Devon Bank

Overview / Commentary
6445 North Western Avenue
Chicago, IL 60645

Devon Bank is headquartered in Chicago and is the 111th largest bank in the state of Illinois. It is also the 1,917th largest bank in the nation. It was established in 1945 and as of June of 2021, it had grown to 139 employees at 3 locations. Devon Bank has a B+ health rating.

Related Posts

Devon Bank Kasasa Cash Continues To Be Near Rate Leader - 12/23/2020

Devon Bank's Kasasa Cash continues to earn a very competitive rate on qualifying balances. The companion savings account, Kasasa Saver, also earns a competitive rate.

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Reviews (2)

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 - YTD0.79%
Return on Equity - YTD11.14%
Annual Interest Income$5.4MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$434.6MM$357.0MM
LoansQ2 2021vs Q2 2020$225.3MM$242.5MM
DepositsQ2 2021vs Q2 2020$325.6MM$290.4MM
Equity CapitalQ2 2021vs Q2 2020$29.6MM$28.0MM
Loan Loss AllowanceQ2 2021vs Q2 2020$5.8MM$4.2MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$645.00K$2.6MM
Real Estate OwnedQ2 2021vs Q2 2020$618.00K$224.00K
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Always verify rates and promotions with the bank or credit union. We are not Devon Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Devon Bank Savings Account Rates

0.85%*-$50kKasasa Saver
OTHER TIERS: 0.25% $50k+
0.15%*$25k*-Passport Savings
OTHER TIERS: 0.05% $100 - $5k | 0.10% $5k - $25k

Devon Bank Money Market Rates

0.15%*$25k*-Tiered Money Market
OTHER TIERS: 0.10% Up to $25k

Devon Bank Checking Account Rates

2.50%*-$10kKasasa Cash
OTHER TIERS: 0.25% $10k+
0.10%*$25k*-Tiered NOW Checking
OTHER TIERS: 0.05% Up to $5k | 0.07% $5k - $25k

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

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