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773-487-4800
645 East 87th Street
Chicago, IL 60619

Seaway Bank and Trust Company is headquartered in Chicago and is the 81st largest bank in the state of Illinois. It is also the 1,315st largest bank in the nation. It was established in 1965 and as of June of 2014, it had grown to 277 employees at 11 locations. Seaway Bank and Trust Company has a C- health rating.

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Reviews (1)

Horrible Bank Go Elsewhere!!

Do not even think about it.

This bank really is bad. Customer service is terrible, and they do not subordinate. STAY AWAY!!



Health

Data for Q2 2014

Institution Health

C-

Texas Ratio

GRADE:
F

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 Seaway Bank and Trust Company had $53.99 million in non-current loans and owned real-estate with $48.95 million in equity and loan loss allowances on hand to cover it. This gives Seaway Bank and Trust Company a Texas Ratio of 110.29% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C-

The Texas Ratio for Seaway Bank and Trust Company increased slightly from 87.73% as of June 30, 2013 to 110.29% as of June 30, 2014, resulting in a negative change of 25.71%. This indicates that the balance sheet and financial strength for Seaway Bank and Trust Company has declined slightly in recent periods.

Deposit Growth

GRADE:
D

In the past year, Seaway Bank and Trust Company has decreased its total deposits by -$29.91 million, resulting in -6.06% 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 Seaway Bank and Trust Company has shown is below average.

Capitalization

GRADE:
B

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. Seaway Bank and Trust Company has $514.48 million in assets with $48.95 million in equity, resulting in a capitalization level of 9.51%, which is above average.

Institution Statistics

Overall
FDIC Certificate #19328
Year Established1965
Employees277
Primary RegulatorFDIC
Assets and Liabilities
Assets$514.48 million
Loans$254.26 million
Deposits$463.71 million
Equity Capital$32.19 million
Loan Loss Allowance$16.77 million
Unbacked Noncurrent Loans$53.15 million
Real Estate Owned$836,000
Historic Data - June 2013
Assets$555.93 million
Equity Capital$44.18 million
Loan Loss Allowance$20.77 million
Unbacked Noncurrent Loans$53.15 million
Real Estate Owned$961,000
Profit Margin - Quarterly
Return on Assets-1.71%
Return on Equity-27.69%
Interest Income$11.65 million
Rates

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

Seaway Bank and Trust Company Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%--Electronic Transfer Account
0.15%--Christmas Club
0.15%--Vacation Club
0.15%--Young Savers
0.03%--Regular Savings

Seaway Bank and Trust Company Money Market Rates

DetailsAPYMINMAXPRODUCT
0.10%$100k-Platinum Money Market
0.05%$1,500-Commercial Money Market
0.03%$1k-Money Market Account

Seaway Bank and Trust Company Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$100-Classic Club Plus
0.05%$1,500-Non-Profit NOW
0.05%$100-Classic Club
0.03%$100-NOW Checking

Seaway Bank and Trust Company CD Rates

DetailsAPYMINMAXPRODUCT
0.45%$1k-5 Year CD
0.40%$1k-4 Year CD
0.35%$1k-3 Year CD
0.20%$1k-2 Year CD
0.18%$1k-1 Year CD
0.17%$100k-1 Year Jumbo CD
0.13%$100k-270 Day Jumbo CD
0.10%$100k-150 Day Jumbo CD
0.10%$100k-180 Day Jumbo CD
0.07%$100k-120 Day Jumbo CD
0.06%$1k-182 Day CD
0.06%$100k-60 Day Jumbo CD
0.06%$100k-90 Day Jumbo CD
0.03%$1k-92 Day CD

Seaway Bank and Trust Company IRA Rates

DetailsAPYMINMAXPRODUCT
0.45%$1k-5 Year IRA
0.40%$1k-4 Year IRA
0.35%$1k-3 Year IRA
0.20%$1k-2 Year IRA
0.18%$1k-1 Year IRA
0.17%$100k-1 Year Jumbo IRA
0.13%$100k-270 Day Jumbo IRA
0.10%$100k-150 Day Jumbo IRA
0.10%$100k-180 Day Jumbo IRA
0.07%$100k-120 Day Jumbo IRA
0.06%$100k-60 Day Jumbo IRA
0.06%$100k-90 Day Jumbo IRA
0.06%$1k-182 Day IRA
0.03%$1k-92 Day IRA
Locations

Seaway Bank and Trust Company has 12 locations. Click to view all Seaway Bank and Trust Company locations.