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120 S Lasalle St , # 400
Chicago, IL 60603

Palladian Private Bank is headquartered in Chicago and is the 4th largest bank in the state of Illinois. It is also the 94th largest bank in the nation. It was established in 1991 and as of June of 2014, it had grown to 1,144 employees at 28 locations. Palladian Private Bank's savings rates are 2X the national average, and it boasts a A+ health rating.

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Savings Account Promo Rate at Palladian PrivateBank Ends January 31, 2015 - 8/7/2014

Palladian PrivateBank has a Savings Account promo rate (1.25% APY) for accounts opened until January 31, 2015. After that date, the rate reverts to non-promo rate.

Reviews (7)

No Way To Be Able To Apply For An Account Online

I tried multiple times to open an account online but failed. The bank representative told me over the phone that they don't know what's wrong. The only solution they gave me is to reapply for it online again and again until the system accept my application. It's crazy!

Impossible To Open Account

I too have tried several times to open a savings account. The whole exercise is a joke...on the very last page it won't let you complete the opening. I've called several times but no one can help me put $200,000 in their ridiculous bank! Hard to believe they're in business and you wonder who runs the place. They must be total incompetents.

Not Happy...

Okay... I filled out their lengthy application on-line...and was rejected like the others above.
I'm not real happy about giving out all that sensitive information & wasting my time with an organization that doesnt seem to have their act together.
If you read the fine print, it also sounds like it may be difficult to withdraw your funds once deposited.
Another case of if it sounds too good to be true, it likely is. I recommend not wasting your time.

Bait And Switch

Unable to open account due to being "on some government political list" or someone with a similar name (huh?), I am as vanilla as they come. So, applied in my husband's name only. Again, denied access to opening an account. But, I can go open one at the branch "at an interest rate much lower" - like 0.01% instead on 1.25% -- it should be illegal!

Won't Let Me Open Account Online

I tried multiple times to open the account online but the system kept saying it won't allow me to open it. Called customer service and they said to keep trying but for security purposes they won't be able to tell me why it's failing. I have accounts open with many banks - this is ridiculous. Great rate if you can get it. I can't. So 1 star.

Slight Quirk In The Application

I was able to apply for the savings account. The one quirk on the online application was that it asked for an issue date for the driver's license. My Michigan driver's license has a printed expiration date but not an issue date. The online application won't go through without the issue date. Customer support didn't know what to do, and I recalled that my license gets renewed every four years, so I believe that the issue date has to be four years from the expiration date. Customer support consulted with someone on their end and seemed to conform the four year issue date. Using the issue date as four years prior to expiration date worked and I'm able to apply for the savings account. I will provide a follow up review.
The only fee that's not reasonable is the $25 fee for accounts closed within 90 days of opening.

Easily Opened An Account In 5 Minutes

I have read all negative reviews about difficulties in opening an account, but decided to give it a try. Well, it took me 5 minutes to open an account (I still need to very them my funding source). They do thoroughly verify your personal info and ask questions about you car year, length of staying at a particular address etc. (I guess they are getting this info from credit agencies), but this is what most online banks do. I guess, people who were unable to open their account did not correctly answered some questions. The only negative thing is Palladia don't tell you the interest rate after promotional period and won't let you withdraw money online, but I called them and confirmed I can initiate a draft from another bank.


Data for Q2 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 June 30, 2014 Palladian Private Bank had $96.41 million in non-current loans and owned real-estate with $1.81 billion in equity and loan loss allowances on hand to cover it. This gives Palladian Private Bank a Texas Ratio of 5.33% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Palladian Private Bank decreased dramatically from 10.63% as of June 30, 2013 to 5.33% as of June 30, 2014, resulting in a positive change of 49.86%.This indicates that the balance sheet and financial strength for Palladian Private Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, Palladian Private Bank has increased its total deposits by $954.4 million, resulting in 8.39% 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 Palladian Private Bank has shown is excellent.



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. Palladian Private Bank has $14.57 billion in assets with $1.81 billion in equity, resulting in a capitalization level of 12.41%, which is excellent.

Institution Statistics

FDIC Certificate #33306
Year Established1991
Primary RegulatorFDIC
Assets and Liabilities
Assets$14.57 billion
Loans$11.13 billion
Deposits$12.33 billion
Equity Capital$1.65 billion
Loan Loss Allowance$160.87 million
Unbacked Noncurrent Loans$76.59 million
Real Estate Owned$19.82 million
Historic Data - June 2013
Assets$13.45 billion
Equity Capital$1.51 billion
Loan Loss Allowance$173.18 million
Unbacked Noncurrent Loans$76.59 million
Real Estate Owned$57.13 million
Profit Margin - Quarterly
Return on Assets1.21%
Return on Equity10.77%
Interest Income$254.11 million
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Palladian Private Bank Savings Account Rates

1.26%$10k-Savings Account

Palladian Private Bank CD Rates

1.10%$10k-24 Month CD
1.05%$10k-18 Month CD
1.00%$10k-12 Month CD

Palladian Private Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 120 S Lasalle St , # 400 - Chicago, IL 60603