Bank of Springfield


Overview / Commentary
217-529-5555
3400 West Wabash
Springfield, IL 62711

Bank of Springfield is headquartered in SPRINGFIELD and is the 41st largest bank in the state of Illinois. It is also the 667th largest bank in the nation. It was established in 1965 and as of March of 2025, it had grown to 341 employees at 17 locations. Bank of Springfield has a B+ health rating.

Reviews (2)

Overzealous Fraud Prevention

Posted by: |

After 53 years of my family (and my Dads first local employer, VFW State HQs... which BOS VP Harry Argus helped relocating across the street and) doing business here, today will likely be my last. Too bad for the other nice people who work there!
I find it odd and inconsistent with other recent laws (specifically Privacy and POA Laws) that somehow or other at least certain banks can assume POA powers and stick their noses into customers personal business whenever they deem transactions suspicious.. declining transactions or threatening and/or closing accounts!
I would suggest that such banks (unless customer conducts illegal business or has been found to be medically incompetent and unable to handle their own affairs) mind their OWN business, of which closing too many accounts certainly wont help!!

Inept Idiots

This has been the worst bank I've ever dealt with. Their bill pay system is a joke. It was working great until I closed one account and somehow it remained as an option on the bill pay webpage. Twice within a year I had funds they tried to take out of a closed account that remained listed on the menu. The first time I let it go, but made it clear I wanted only one account attached to the bill pay. Then it happened again so I closed one account. You'd think if there's only ONE ACCOUNT they'd figure out their mistake in accessing it. But no. Even a year later the closed account still showed up and again it was deemed my fault for not paying attention. That second time cost me over $80 in bounce fees from my creditors plus late fees when the payment didn't go through. I got the late fees refunded but the bounce fees the creditors referred me back to the bank which asked for copies of my personal credit card statements to show the charges then lost them and I had to submit them again! Finally after several more weeks of waiting I inquired again and they washed their hands of it all and referred me to their bill pay company. After another couple weeks of phone calls and emails they too washed their hands of it saying it was all my fault after leading me on to think they saw my side. How this bank still stays in business is a wonder. If there's any justice here they'll be out of business soon. Do not trust them with your money.



Health
B+

Health Grade Components

Overall
FDIC Certificate #19506
Year Established1965
Employees341
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.13%
Return on Equity - YTD12.83%
Annual Interest Income$24.3MM
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$1.75B$1.59B
LoansQ1 2025vs Q1 2024$1.49B$1.32B
DepositsQ1 2025vs Q1 2024$1.46B$1.33B
Equity CapitalQ1 2025vs Q1 2024$155MM$137.2MM
Loan Loss AllowanceQ1 2025vs Q1 2024$15.2MM$12.8MM
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$24MM$20.2MM
Real Estate OwnedQ1 2025vs Q1 2024$370K$476K
Rates
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Bank of Springfield CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.41%$1k-5 Year CD
1.17%$1k-4 Year CD
1.12%$1k-42 Month CD
0.91%$1k-3 Year CD
0.75%$1k-2 Year CD
0.51%$1k-18 Month CD
0.46%$10k-15 Month Flex CD
0.41%$1k-12 Month CD
0.26%$1k-6 Month CD
0.21%$1k-3 Month CD
Locations

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