BMO Harris Bank is headquartered in Chicago and is the largest bank in the state of Illinois. It is also the 25th largest bank in the nation. It was established in 1947 and as of June of 2022, it had grown to 10,809 employees at 526 locations. BMO Harris Bank has a B+ health rating.
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5/1 - BMO Harris Savings Drops To 1.65% APY
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3/25 - 3% 5 Year CD As Of March 25
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7/3/17 - BMO Harris Bank Adds CD Specials (Checking Relationship)
5/10/17 - BMO Harris Bank's $200 Checking Bonus Available Nationwide
3/2/17 - Earn $200 Checking Bonus At BMO Harris Bank
2/28/17 - $200 Checking Bonus From BMO Harris Bank
2/21/17 - BMO Harris Bank Adds Three Relationship CD Specials
11/15/16 - Special 2% 59-Month CD And $50 Checking Bonus At BMO Harris
4/29/16 - $200 Checking Bonus Has Been Extended At BMO Harris
7/31/15 - BMO Harris Bank Promotes New Checking $200 Cash Bonus
6/19/14 - Up to $200 Checking Account Bonus at BMO Harris Bank
3/19/14 - BMO Harris $200 Checking Account Bonus - May Be Targeted
3/11/13 - Up to $200 Checking Account Bonus at BMO Harris Bank in Some States
8/2/10 - $1,000 Business Checking Promotion At Harris Bank In IL, WI & IN
11/11/09 - $150 Checking Account Bonus at Harris Bank
9/1/09 - $150 Checking Account Bonus at Southwest Bank in Missouri - Local Only
3/13/09 - 3.00% 10-Month CD & 3.75% 39-Month CD at AMCORE Bank in IL & WI
1/20/09 - 4.00% 39-Month CD and 3.50% 10-Month CD at Amcore Bank in IL and WI
10/24/08 - 4.50% 7-Month / 5.10% 60-Month CD at Harris Bank
7/19/08 - 5.00% 39-Month / 4.00% 19-Month CD at an IL/WI Bank (Amcore)
5/24/08 - 4.70% 60-Month / 3.60% 20-Month CD at M&I Bank
4/20/08 - 4.50% 60-Month CD at M&I Bank
1/9/06 - CD Specials (5% 13-mo) at an Indiana Bank
Good customer service
Harris bank has good customer service but is lacking in products and fees. They had a good partnership with local elementary schools to help kids start saving. This was great as it gave the community a jump start and showed that they cared. I am happy I got a chance to know the local tellers and start my understanding of savings with them.
Did not feel the love...
We have dealt with BMO for many years. A few years ago we had the unfortunate opportunity to find out that accounts will now be charged for inactivity. What a sham! It is my money, seriously, how hard is it to let it sit?! Any time I have to go into my local bank for help with my savings or checking, I might find that I have to wait a number of hours or even days for attention. It also bothers me that the savings account rates are so low. Each time I visit the bank, the staff tries to "sell" me on the idea of opening another account to get better interest rates. When I see the low interest rates, I can see t is not worth my time. The low rates are discouraging, and while they are the norm, there was a time BMO led the banks with great rates.
There Are BETTER Banks To Do Business With
In the first week of account opening, BMO Harris froze my account claiming they couldn’t verify my identity. This prevented me from making deposits and withdrawals for a number of days until the matter was finally resolved after numerous calls. Also, external transfers take days to post to your BMO Harris account even though the funds are deducted immediately from your transferring bank. Investors are losing interest income during these
posting delays while BMO benefits from having the use of your money -other banks are much quicker. I will be closing my account with BMO and doing business elsewhere !
Worst Business Bank Ever
Worst business bank ever. It took a year. A YEAR. for them to get my online business services running for me.
This week I have spent THREE DAYS on the phone with them trying to get their system to let me send a time-sensitive wire. That's 3 days not getting my wire sent. Three days not tending to customers. Three days losing sales. Three days not getting ANY work done that I will now need to do evenings and weekends.
For help, you can expect to have to go through layer after layer of option menus, then invariably you get the wrong department and when they transfer you they end up disconnecting you. I have never been so frustrated with a bank in my life.
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 16571 |
| Year Established | 1947 |
| Employees | 10809 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.07% |
| Return on Equity - YTD | 11.12% |
| Annual Interest Income | $2.02B |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $163.2B$159.8B |
| Loans | Q2 2022vs Q2 2021 | $93.19B$82.27B |
| Deposits | Q2 2022vs Q2 2021 | $133.3B$134.3B |
| Equity Capital | Q2 2022vs Q2 2021 | $15.40B$18.47B |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $779.8MM$934.3MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $476.4MM$784.4MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $5.2MM$3.2MM |
