Devon Bank

Overview / Commentary
6445 North Western Avenue
Chicago, IL 60645

Devon Bank is headquartered in CHICAGO and is the 93rd largest bank in the state of Illinois. It is also the 1,714th largest bank in the nation. It was established in 1945 and as of December of 2023, it had grown to 123 employees at 3 locations. Devon Bank's savings rates are 9X the national average, and it has a B+ health rating.

Reviews (3)

Worst Experience!

Posted by: |

This is the worst bank I have EVER been too! Nobody helps, and everybody is so inhumane. They take your time, and money, AND on top of that break your heart over and over again. Horrible management ! If I could go back and work with another bank I would. Devon Bank is not worth it.

Working With Devon Bank = Pure Misery

Posted by: |

There is one single nice thing about Devon Bank: their rates are low. I'm warning you, though, it's not worth it. Once you have a mortgage, you can't move it, not without a complete refinance. I would GLADLY pay another $1000 and half percent interest to work with a competent bank. Everything I've ever needed to do with Devon Bank has been pure misery.
First, our loan officer filled in our re-fi forms wrong, so I ended up correcting his work quite a bit. Not a few errors, either. There were five meaningful errors I bothered to note, at different times on different forms - wrong names entered, details of the property incorrect, all sorts of things like that. I should have taken that as a warning, but I was blinded by the low price.
I soon discovered that Devon Bank's website is garbage. I've never even been able to log in after years of trying. If you ever need to do anything else with them, good luck! They double billed me one month for my mortgage - that was an unpleasant surprise. Their homemade forms are a joke - shouldn't a bank proofread? Customer service today told me their computers are down (again) so they can't do anything. They sent me to voice mail, which is all they ever do, anyway, since they don't actually seem to know anything themselves. I've yet to have a voice mail returned.
I honestly would never have imagined that a real FDIC-insured bank could even be so awful to deal with. I thought people complaining about banks were just exaggerating and should have read the fine print, but wow, I was wrong. It's not that Devon Bank has hidden fees, it's that they're incompetent. I feel like the whole bank is high school dropouts or head trauma survivors or something. They are really bad at what they do and it's god-awful to have to deal with them.

Poor All Around

Posted by: |

To sum Devon up in one word - POOR


Health Grade Components

FDIC Certificate #16249
Year Established1945
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.04%
Return on Equity - YTD0.67%
Annual Interest Income$23.2MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$530.2MM$528MM
LoansQ4 2023vs Q4 2022$229.9MM$232.7MM
DepositsQ4 2023vs Q4 2022$362.8MM$365.9MM
Equity CapitalQ4 2023vs Q4 2022$32MM$31.2MM
Loan Loss AllowanceQ4 2023vs Q4 2022$3.5MM$3.6MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$0$0
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Devon Bank Savings Account Rates

4.70%*-$500kLegato Saver
OTHER TIERS: 0.25% $500k+
0.85%*-$50kKasasa Saver
OTHER TIERS: 0.25% $50k+

Devon Bank Checking Account Rates

1.50%*-$10kKasasa Cash
OTHER TIERS: 0.25% $10k+

Devon Bank CD Rates

4.50%$10k-12 Month CD Special - New Money
4.50%$10k-Business 12 Month CD Special - New Money
4.25%$10k-24 Month CD Special - New Money
4.25%$10k-Business 24 Month CD Special - New Money

Devon Bank Locations
Wheeling Branch561 North Milwaukee AvenueWheeling, IL 60090
Devon Bank6445 N Western AveChicago, IL 60645
Glenview Branch950 Milwaukee AvenueGlenview, IL 60025

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