Overview / Commentary
Better Banks is headquartered in Peoria and is the 131st largest bank in the state of Illinois. It is also the 2,249th largest bank in the nation. It was established in 1898 and as of June of 2020, it had grown to 68 employees at 8 locations. Better Banks has an A 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
A
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 1808 |
| Year Established | 1898 |
| Employees | 68 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1% |
| Return on Equity - YTD | 9.92% |
| Annual Interest Income | $5.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $322.5MM$292.9MM |
| Loans | Q2 2020vs Q2 2019 | $216.5MM$197.4MM |
| Deposits | Q2 2020vs Q2 2019 | $285.5MM$261.5MM |
| Equity Capital | Q2 2020vs Q2 2019 | $31.5MM$28.2MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $1.7MM$1.5MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $1.6MM$1.4MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $1.0MM$1.0MM |