5 star ratingAverage User Rating:
5 star rating based on 2 reviews.

Mutual Federal Bank

Mutual Federal Bank Locations
2212 W. Cermak Rd.
Chicago, IL 60608
(773) 847-7747
www.mutualfederalbank.com



Mutual Federal Bank is headquartered in Chicago and is the 379th largest bank in the state of Illinois. It is also the 5,378th largest bank in the nation. It was established in 1905 and as of September of 2011, it had grown to 21 employees at 2 locations. Mutual Federal Bank's money market rates are 48% higher than the national average, and it has a 3-star health rating.

Mutual Federal Bank Routing Number: 271071062

Related Posts

Competitive 3-Year CD & IRA CD Rate at Mutual Federal Bank in Chicago - Local Only - 4/10/2011

Mutual Federal Bank is offering a 2.00% APY 3-year CD and IRA CD. Minimum deposit is $500. I last reported on this bank in October when it was offering a top 5-year CD. That rate has fallen quite a bi ...

Top 5-Year CD Rate Continues at Mutual Federal Bank in Chicago - Local Only - 10/7/2010

Mutual Federal Bank continues to offer a competitive 5-year CD rate of 3.10% APY. Minimum deposit is $500. I last reported on this in August. Since that time, many banks have cut their 5-year CD rates ...

Top 5-Year CD Rate at Mutual Federal Bank in Chicago - Local Only - 8/13/2010

Mutual Federal Bank is offering a competitive 5-year CD rate of 3.10% APY. The 30-month CD rate is also fairly competitive at 2.00% APY. Minimum deposit is $500. These rates are listed at the bank's C ...

Top 6-Month Jumbo CD at Mutual Federal Bank in Chicago - Local Only - 3/30/2010

Mutual Federal Bank continues to offer very competitive 6-month CD rates. Its Jumbo 6-month CD has a 1.75% APY. This requires a $100,000 minimum deposit. Its 6-month CD rate for a $1,000 minimum is a ...

2010

2009




See Rates for: Checking | Savings | Money Market | CD | IRA

Mutual Federal Bank Checking Account Rates

ApyMinMaxProduct
0.50%--Interest Checking

Mutual Federal Bank Savings Account Rates

ApyMinMaxProduct
0.75%$25-GreatKids Savings
0.35%--Statement Savings
0.35%--Passbook Savings

Mutual Federal Bank Money Market Rates

ApyMinMaxProduct
0.65%$2,500-Money Market Account

Mutual Federal Bank CD Rates

ApyMinMaxProduct
2.00%$500-5 Year Certificate
1.75%$500-4 Year Certificate
1.50%$500-3 Year Certificate
1.25%$500-2 1/2 Year Certificate
1.10%$500-2 Year Certificate
1.00%$500-18 Month Certificate
0.90%$500-1 Year Certificate
0.60%$900-9 Month Certificate
0.40%$1k-6 Month Certificate
0.30%$1k-3 Month Certificate

Mutual Federal Bank IRA Rates

ApyMinMaxProduct
2.00%$500-5 Year IRA
2.00%$500-5 Year Roth IRA
1.75%$500-4 Year IRA
1.75%$500-4 Year Roth IRA
1.50%$500-3 Year IRA
1.50%$500-3 Year Roth IRA
1.25%$500-2 1/2 Year IRA
1.25%$500-2 1/2 Year Roth IRA
1.10%$500-2 Year IRA
1.10%$500-2 year Roth IRA
1.00%$500-1 1/2 Year IRA
1.00%$500-1 1/2 Year Roth IRA
0.90%$500-1 Year IRA
0.90%$500-1 Year Roth IRA
0.60%$500-9 Month IRA
0.60%$500-9 Month Roth IRA
0.40%$1k-6 Month IRA
0.40%$1k-6 Month Roth IRA
0.30%$1k-3 Month IRA
0.30%$1k-3 Month Roth IRA

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


Mutual Federal Bank
OTS #01330
FDIC Certificate #28302
BankRate ReportView
Year Established1905
Employees21
Primary RegulatorOCC

Assets and Liabilities

Assets$84.80 million
Loans$46.42 million
Deposits$70.81 million
Equity Capital$12.85 million
Loan Loss Allowance$1.10 million
Unbacked Noncurrent Loans$7.88 million
Real Estate Owned$1.02 million

Historic Data - September 2010

Assets$74.29 million
Equity Capital$17.06 million
Loan Loss Allowance$1.17 million
Unbacked Noncurrent Loans$1.67 million
Real Estate Owned$2.69 million

Profit Margin - Quarterly

Net Interest Margin2.34%
Return on Assets-3.9%
Return on Equity-23%
Interest Income$2.00 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio2
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Mutual Federal Bank had $8.9 million in non-current loans and owned real-estate with $13.95 million in equity and loan loss allowances on hand to cover it. This gives Mutual Federal Bank a Texas Ratio of 63.80% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Mutual Federal Bank increased slightly from 23.87% as of September 30, 2010 to 63.80% as of September 30, 2011, resulting in a negative change of 167.28%. This indicates that the balance sheet and financial strength for Mutual Federal Bank has declined slightly in recent periods.
Deposit Growth5
In the past year, Mutual Federal Bank has increased its total deposits by $16.77 million, resulting in 31.03% 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.
Capitalization5
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 $84.8 million in assets with $13.95 million in equity, resulting in a capitalization level of 16.45%, which is excellent.
Write Review

Super Nice And Helpful
5 stars - BankGoer04 - Wednesday, January 12, 2011 - 2:18 PM

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.

3

Mutual Federal
5 stars - Anonymous - Wednesday, October 20, 2010 - 12:32 PM

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

3