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Overview / Commentary
773-847-7747
2212 W. Cermak Rd.
Chicago, IL 60608

Mutual Federal Bank is headquartered in Chicago and is the 387th largest bank in the state of Illinois. It is also the 5,274th largest bank in the nation. It was established in 1905 and as of March of 2014, it had grown to 18 employees at 1 location. Mutual Federal Bank's money market rates are 14% higher than the national average, and it has a B health rating.

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Reviews (2)

Super Nice And Helpful

The new Naperville branch (under the name "Great American Bank") was more then helpful with answering all my questions.  The banker I dealt with (Eric) was super nice and extremely helpful with everything.  With their above average rates and free checks for accounts; I will be returning to open new accounts as soon as I have more CD's come due.

Mutual Federal

This is a great bank that treats it's customers with class and kindness.



Health

Data for Q1 2014

Institution Health

B
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Mutual Federal Bank has a relatively low asset base.

Texas Ratio

GRADE:
C

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Mutual Federal Bank had $5.13 million in non-current loans and owned real-estate with $13.82 million in equity and loan loss allowances on hand to cover it. This gives Mutual Federal Bank a Texas Ratio of 37.09% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Mutual Federal Bank experienced no significant changes from 33.57% as of March 31, 2013 to 37.09% as of March 31, 2014, resulting in a negative change of 10.47%. This indicates that the balance sheet and financial strength for Mutual Federal Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Mutual Federal Bank has increased its total deposits by $3.46 million, resulting in 5.68% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Mutual Federal Bank has shown is excellent.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Mutual Federal Bank has $77.44 million in assets with $13.82 million in equity, resulting in a capitalization level of 17.85%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #28302
Year Established1905
Employees18
Primary RegulatorOCC
Assets and Liabilities
Assets$77.44 million
Loans$58.33 million
Deposits$64.43 million
Equity Capital$12.75 million
Loan Loss Allowance$1.07 million
Unbacked Noncurrent Loans$4.92 million
Real Estate Owned$207,000
Historic Data - March 2013
Assets$73.99 million
Equity Capital$12.64 million
Loan Loss Allowance$1.32 million
Unbacked Noncurrent Loans$4.92 million
Real Estate Owned$409,000
Profit Margin - Quarterly
Net Interest Margin3.68%
Return on Assets0.24%
Return on Equity1.45%
Interest Income$813,000
Rates

Always verify rates and promotions with the bank or credit union. We are not Mutual Federal Bank, we are a rate comparison website and can not provide official rates or promotions.

Mutual Federal Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.35%$25-GreatKids Savings
0.15%--Statement Savings
0.15%--Passbook Savings

Mutual Federal Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.50%$2,500-Money Market Account

Mutual Federal Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.15%--Interest Checking

Mutual Federal Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$500-5 Year Certificate
1.15%$500-4 Year Certificate
1.01%$500-3 Year Certificate
0.90%$500-2 1/2 Year Certificate
0.75%$500-2 Year Certificate
0.65%$500-18 Month Certificate
0.55%$500-1 Year Certificate
0.35%$900-9 Month Certificate
0.20%$1k-6 Month Certificate
0.15%$1k-3 Month Certificate

Mutual Federal Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.25%$500-5 Year IRA
1.25%$500-5 Year Roth IRA
1.15%$500-4 Year IRA
1.15%$500-4 Year Roth IRA
1.01%$500-3 Year IRA
1.01%$500-3 Year Roth IRA
0.90%$500-2 1/2 Year IRA
0.90%$500-2 1/2 Year Roth IRA
0.75%$500-2 Year IRA
0.75%$500-2 year Roth IRA
0.65%$500-1 1/2 Year IRA
0.65%$500-1 1/2 Year Roth IRA
0.55%$500-1 Year IRA
0.55%$500-1 Year Roth IRA
0.35%$900-9 Month IRA
0.35%$900-9 Month Roth IRA
0.20%$1k-6 Month IRA
0.20%$1k-6 Month Roth IRA
0.15%$1k-3 Month IRA
0.15%$1k-3 Month Roth IRA
Locations


Mutual Federal Bank Locations
Mutual Federal Bank2212 West Cermak RoadChicago, IL 60608