First National Bank of Waterloo is headquartered in WATERLOO and is the 61st largest bank in the state of Illinois. It is also the 1,157th largest bank in the nation. It was established in 1912 and as of March of 2023, it had grown to 140 employees at 13 locations. First National Bank of Waterloo's CD rates are 5X the national average, and it has a B+ health rating.
Must Open Your Account Locally
Their procedures call for in person account opening at the bank.
Horrible Terrible Bank
This bank has tellers mainly the red head named Rikki. who look up your address and view your house and talk about you when you leave. How much money you have or don’t have. It’s really embarrassing for clients if they only knew. Phil is really quick to shut his door when the tellers are being attacked verbally because he “cares so much for his employees”. It’s a really joke there. I’d steer so clear from them. They have people moving branches and leaving on a regular basis. People leave the banks for poor service. Isn’t that sad? I know. I worked at this crook of a place. No one has a CLUE what’s going on. It’s comical. They are all miserable up there. The red headed teller supervisor doesn’t want to work. They all lie. They are all dishonest. They all talk about one another and their customers! If you are a customer there, they have definitely invaded your privacy!?
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 Q1 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 3842 |
| Year Established | 1912 |
| Employees | 140 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.27% |
| Return on Equity - YTD | 3.75% |
| Annual Interest Income | $7.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $833.9MM$802.1MM |
| Loans | Q1 2023vs Q1 2022 | $482.1MM$403.4MM |
| Deposits | Q1 2023vs Q1 2022 | $678.4MM$693.1MM |
| Equity Capital | Q1 2023vs Q1 2022 | $59.5MM$65.0MM |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $6.4MM$5.4MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $1.2MM$1.2MM |
| Real Estate Owned | Q1 2023vs Q1 2022 | $0$1.1MM |
