Overview / Commentary
700 Busse Rd
Elk Grove Village, IL 60007

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 235th largest bank in the nation. It was established in 1901 and as of June of 2018, it had grown to 659 employees at 54 locations. First American Bank (IL)'s money market rates are 5X the national average, and it has a B+ health rating.

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Reviews (3)

This Should Be Your Next Bank!

This is the best bank I have ever dealt with. They have the most wonderful customer service people in the industry. They have helped me deal with all of my financial matters in a friendly and professional manner. I had a no headache time when calling to have charges removed from my debit card. I would recommend this bank! Free checking and competitive fees are also a couple more reasons to consider First American Bank. For me, it's all about the superior customer service!

All My Dealings With First American Bank Have Been Positive, Staff Is Helpful And Responsive.

I am a long-distance customer, so I haven't visited a branch.  Website is easy to use, quick to access and seems secure (uses multiple security features).  I only had one problem and it was quickly rectified.  Special requests have been cheerfully and promptly handled.

Very Disgruntled HSA Account Holder

I've had an HSA account with them for about 5 years. I've used their ATM card and online banking. Tonight I try to access my account for a transfer and I'm denied because I won't sign an online agreement. This is not an informative agreement, it has stipulations I now have to agree to in order to access my funds. They have my money and want to change the conditions of the agreement they have with my company that uses them for the HSA. They are unbelievably crooked. I doubt that it is even legal and they are denying access to my funds. Stay away.


Health Grade Components

FDIC Certificate #3657
Year Established1901
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.92%
Return on Equity - YTD10.38%
Annual Interest Income$73.6MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$4.58B$3.85B
LoansQ2 2018vs Q2 2017$1.78B$1.43B
DepositsQ2 2018vs Q2 2017$3.03B$2.40B
Equity CapitalQ2 2018vs Q2 2017$377.1MM$367.5MM
Loan Loss AllowanceQ2 2018vs Q2 2017$21.9MM$20.4MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$21.8MM$11.0MM
Real Estate OwnedQ2 2018vs Q2 2017$604.00K$525.00K
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Always verify rates and promotions with the bank or credit union. We are not First American Bank (IL); 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.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

First American Bank (IL) Savings Account Rates

1.25%*$100k*-HSA SavingsPLUS Account
OTHER TIERS: 0.30% Up to $10k | 0.40% $1k - $5k | 0.75% $5k - $50k | 1.15% $50k - $100k
0.65%*$100k*$1mHealth Savings Account
OTHER TIERS: 0.05% Up to $1k | 0.25% $1k - $5k | 0.40% $5k - $50k | 0.55% $50k - $100k
0.25%--Easy Savings Account

First American Bank (IL) Money Market Rates

2.30%$15k-Optimal Money Market Special - In Branch (New Money)

First American Bank (IL) Checking Account Rates

1.00%*-$15kEveryday Rewards Checking
OTHER TIERS: 0.21% $15k+
0.65%*$250k*-Optimal Checking Account
OTHER TIERS: 0.25% $1k - $5k | 0.30% $5k - $25k | 0.45% $25k - $50k | 0.55% $50k - $250k

First American Bank (IL) CD Rates

2.60%$5k-14 Month CD Special
2.15%$5k-7 Month CD Special
1.50%$5k-12 Month CD
1.00%$5k-6 Month CD
0.75%$5k-3 Month CD


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