First National Bank of Waterloo
First National Bank of Waterloo is headquartered in Waterloo and is the 63rd largest bank in the state of Illinois. It is also the 1,181st largest bank in the nation. It was established in 1912 and as of June of 2022, it had grown to 139 employees at 13 locations. First National Bank of Waterloo has a B+ health rating.
Must Open Your Account Locally
Their procedures call for in person account opening at the bank.
Bank Elsewhere
I strongly encourage anyone considering a bank to go anywhere but First National Bank of Waterloo. I would also encourage anyone banking with First National Bank of Waterloo to understand their ignorant and/or malicious policies. We recently had an unexpected family death. The spouse of the deceased was not notified of any account changes. First National Bank of Waterloo allowed money to go out of the account and did not allow money to go in. Again money was allowed out to pay bills but deposits were not allowed to come in. The spouse's own direct deposit from her current employer was denied deposit. On top of all of this, they never contacted her. They also took it upon themselves to deny social security without a death certificate. She found this out while looking at her online banking. When she went to the bank to discuss the issue, the First National Bank of Waterloo had the nerve to say they were trying to protect her. Yes, protect her, by not allowing any deposits, allowing money to be taken out and by not notifying her of their brilliant safeguards. Words cannot express my disappointment in First National Bank of Waterloo and their policies. I pray that anyone facing a similar tragedy does not have to experience this unnecessary stress.
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 3842 |
| Year Established | 1912 |
| Employees | 139 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.62% |
| Return on Equity - YTD | 7.63% |
| Annual Interest Income | $11.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $811.3MM$801.3MM |
| Loans | Q2 2022vs Q2 2021 | $431.8MM$408.3MM |
| Deposits | Q2 2022vs Q2 2021 | $677.2MM$696.6MM |
| Equity Capital | Q2 2022vs Q2 2021 | $61.7MM$68.9MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $5.7MM$4.6MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $1.3MM$2.9MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $1.0MM$992.00K |
