Overview / Commentary
Better Banks is headquartered in Peoria and is the 122nd largest bank in the state of Illinois. It is also the 2,093rd largest bank in the nation. It was established in 1898 and as of March of 2021, it had grown to 70 employees at 8 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 Q1 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 1808 |
| Year Established | 1898 |
| Employees | 70 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.1% |
| Return on Equity - YTD | 12.59% |
| Annual Interest Income | $2.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $378.1MM$292.3MM |
| Loans | Q1 2021vs Q1 2020 | $213.1MM$198.9MM |
| Deposits | Q1 2021vs Q1 2020 | $345.4MM$261.4MM |
| Equity Capital | Q1 2021vs Q1 2020 | $31.2MM$29.7MM |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $2.6MM$1.6MM |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $1.6MM$1.8MM |
| Real Estate Owned | Q1 2021vs Q1 2020 | $1.0MM$1.0MM |