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1601 North Lewis Avenue
Waukegan, IL 60085

NorStates Bank is headquartered in Waukegan and is the 108th largest bank in the state of Illinois. It is also the 1,703rd largest bank in the nation. It was established in 1962 and as of March of 2014, it had grown to 112 employees at 8 locations. NorStates Bank has a C- health rating.

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Reviews (1)

My Service With Norstate

Norstate bank has provided the upmost service to me by offering high earning checking accounts, on line banking and friendly service. I decided to leave one of the big three about 4 years ago, and looked for a community bank. In the first 6 months with Norstates I earned more on my checking than I did in 3 years with Chase, and I held more $ with Chase. I just hope Norstate doesn't become a target of merger (as happens with many others). I would recommend this bank.


Data for Q1 2014

Institution Health


Texas Ratio


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 NorStates Bank had $33.79 million in non-current loans and owned real-estate with $34.41 million in equity and loan loss allowances on hand to cover it. This gives NorStates Bank a Texas Ratio of 98.22% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for NorStates Bank increased slightly from 68.27% as of March 31, 2013 to 98.22% as of March 31, 2014, resulting in a negative change of 43.86%. This indicates that the balance sheet and financial strength for NorStates Bank has declined slightly in recent periods.

Deposit Growth


In the past year, NorStates Bank has decreased its total deposits by -$7.44 million, resulting in -2.09% 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 NorStates Bank has shown is average.



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. NorStates Bank has $392.02 million in assets with $34.41 million in equity, resulting in a capitalization level of 8.78%, which is average.

Institution Statistics

FDIC Certificate #18626
Year Established1962
Primary RegulatorFDIC
Assets and Liabilities
Assets$392.02 million
Loans$209.85 million
Deposits$349.34 million
Equity Capital$25.20 million
Loan Loss Allowance$9.21 million
Unbacked Noncurrent Loans$20.12 million
Real Estate Owned$13.67 million
Historic Data - March 2013
Assets$403.66 million
Equity Capital$28.88 million
Loan Loss Allowance$20.91 million
Unbacked Noncurrent Loans$20.12 million
Real Estate Owned$10.15 million
Profit Margin - Quarterly
Net Interest Margin3%
Return on Assets-0.16%
Return on Equity-2.42%
Interest Income$2.79 million

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NorStates Bank Savings Account Rates

0.05%$1k-Education Individual Retirement Account
0.05%$1k-Roth Individual Retirement Account
0.05%$1k-Traditional Individual Retirement Account
0.01%--Holiday Club Account
0.01%$100-Personal Savings
0.01%--Junior Savings
0.01%--Trust Savings

NorStates Bank Money Market Rates

0.05%--NorStates Money Market Account
0.05%--Business NorStates Money Market Account

NorStates Bank Checking Account Rates

0.50%--High-Yield Checking - Qualifying
0.01%--High-Yield Checking - Non Qualifying

NorStates Bank CD Rates

0.50%$1k-4 Year CD
0.50%$1k-Business 4 Year CD
0.50%$1k-5 Year CD
0.50%$1k-Business 5 Year CD
0.35%$1k-3 Year CD
0.35%$1k-Business 3 Year CD
0.25%$1k-2 Year CD
0.25%$1k-Business 2 Year CD
0.15%$1k-1 Year CD
0.15%$1k-Business 1 Year CD
0.10%$1k-180 Day CD
0.10%$1k-Business 180 Day CD
0.05%$1k-30 Day CD
0.05%$1k-90 Day CD
0.05%$1k-Business 30 Day CD
0.05%$1k-Business 90 Day CD

NorStates Bank IRA Rates

0.50%$1k-4 Year IRA
0.50%$1k-5 Year IRA
0.35%$1k-3 Year IRA
0.25%$1k-2 Year IRA
0.15%$1k-1 Year IRA

NorStates Bank Locations
Norstates Bank1601 North Lewis AvenueWaukegan, IL 60085
Cedar Lake Office Branch1777 North Cedar Lake RoadRound Lake, IL 60073
Madison At County Branch216 W. Madison St.Waukegan, IL 60085
Gurnee Branch5384 Grand AvenueGurnee, IL 60031
Winthrop Harbor Facility700 N Sheridan RdWinthrop Harbor, IL 60096
Goodnow BranchAvilon and Goodnow BoulevardsRound Lake, IL 60073
Westside FacilityGreenbay Road and Grand AvenueWaukegan, IL 60085
Antioch FacilityRoute 59 and Grass Lake RoadAntioch, IL 60002