Overview / Commentary
Better Banks is headquartered in Peoria and is the 107th largest bank in the state of Illinois. It is also the 1,909th largest bank in the nation. It was established in 1898 and as of June of 2022, it had grown to 82 employees at 10 locations. Better Banks has a B health rating.
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Reviews (1)
Must Be Qualified To Sell
Posted by: Nicoli Thompson | Apr 24, 2016
I tried to sell a rental property to an individual who was using Better Banks. Apparently it is policy to ask the seller for the sellers tax returns to see if the buyer is going to qualify to purchase the property. Even after being provided the traditional P&L, they still wanted information they weren't supposed to have. Very odd, beware!
Health
B
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 1808 |
| Year Established | 1898 |
| Employees | 82 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.85% |
| Return on Equity - YTD | 13.42% |
| Annual Interest Income | $7.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $439.5MM$380.3MM |
| Loans | Q2 2022vs Q2 2021 | $262.7MM$224.0MM |
| Deposits | Q2 2022vs Q2 2021 | $415.4MM$346.6MM |
| Equity Capital | Q2 2022vs Q2 2021 | $22.6MM$32.0MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $3.5MM$2.6MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $2.2MM$1.5MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $1.0MM$1.0MM |