Institution Statistics
| Waukegan Savings Bank | | FDIC Certificate # | 28243 | | BankRate Report | View | | Year Established | 1924 | | Employees | 26 | | Primary Regulator | FDIC |
Assets and Liabilities | | Assets | $88.94 million | | Loans | $63.36 million | | Deposits | $77.50 million | | Equity Capital | $1.76 million | | Loan Loss Allowance | $956,000 | | Unbacked Noncurrent Loans | $3.92 million | | Real Estate Owned | $2.80 million |
Historic Data - March 2011 | | Assets | $93.17 million | | Equity Capital | $2.58 million | | Loan Loss Allowance | $789,000 | | Unbacked Noncurrent Loans | $2.06 million | | Real Estate Owned | $1.80 million |
Profit Margin - Quarterly | | Net Interest Margin | 3.59% | | Return on Assets | -2.8% | | Return on Equity | -115.19% | | Interest Income | $896,000 |
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Institution Health
Overall Score:
1 out of 5 
| Texas Ratio |  | | 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 March 31, 2012 Waukegan Savings Bank had $6.72 million in non-current loans and owned real-estate with $2.71 million in equity and loan loss allowances on hand to cover it. This gives Waukegan Savings Bank a Texas Ratio of 247.92% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk. | | Texas Ratio Trend |  | | The Texas Ratio for Waukegan Savings Bank increased slightly from 114.71% as of March 31, 2011 to 247.92% as of March 31, 2012, resulting in a negative change of 116.12%. This indicates that the balance sheet and financial strength for Waukegan Savings Bank has declined slightly in recent periods. | | Deposit Growth | | | In the past year, Waukegan Savings Bank has decreased its total deposits by -$1.43 million, resulting in -1.82% 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 Waukegan Savings Bank has shown is below average. | | Capitalization | | | 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. Waukegan Savings Bank has $88.94 million in assets with $2.71 million in equity, resulting in a capitalization level of 3.05%, which is poor. |
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Average User Rating:
Condition And Rating Of My Bank Is Worrisome
I have been with the bank for quite a few years. I have noticed a dramatic decrease in employees and customers alike within the last four to five years. This really concerned me so I started checking up on the bank's financial state as well as how it stands with the FDIC. What I read on the FDIC was alittle worrisome. They have been issued an order of "Prompt Corrective Action" because they are so severly "Undercapitalized." According to the FDIC, this is due to management failing to perform their duties in bringing the bank to a "safe and sound" condition. I have already found another institution because I do not believe this one will be around much longer. I need access to my money and when the bank closes or is aquired by another, I don't know if access to my funds will be immediate while they go through this process. It is a shame this bank is in trouble. They have been around for many many years. I had good relationships with some very good employees that had been there for years, but are no longer due to the economy and downsizing because of the bank's troubles it seems. Again, what a shame.