First American Bank (IL) is headquartered in ELK GROVE VILLAG and is the 10th largest bank in the state of Illinois. It is also the 214th largest bank in the nation. It was established in 1901 and as of June of 2024, it had grown to 872 employees at 59 locations. First American Bank (IL) has a B+ health rating.
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Careful With This Bank
Very poor customer service. I have been charged a $500 penalty fee for closing an account I have never used nor extracted a penny but apparently had a fee fir closing nobody warned me about. They position this as a free account / credit line I could use any time in case I needed it, but ending costing me $60 a year. When I asked to close it as I didn’t use it, they charged the 500 bucks and when I asked for refund they said “you should have read what you signed for” (on the many pages I sign with all the small numbers it was impasible to notice, the sales person who convinced me to open this account didn’t tell me anything). Really bad experience. Stay away from this bank
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 3657 |
| Year Established | 1901 |
| Employees | 872 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.72% |
| Return on Equity - YTD | 21.32% |
| Annual Interest Income | $214MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $7.07B$6.28B |
| Loans | Q2 2024vs Q2 2023 | $2.9B$2.7B |
| Deposits | Q2 2024vs Q2 2023 | $4.88B$4.79B |
| Equity Capital | Q2 2024vs Q2 2023 | $568.2MM$474.1MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $38.7MM$34.1MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $15.5MM$7.7MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $614K$0 |
