First Southern Bank is headquartered in MARION and is the 50th largest bank in the state of Illinois. It is also the 979th largest bank in the nation. It was established in 1937 and as of June of 2023, it had grown to 159 employees at 19 locations. First Southern Bank's CD rates are 2X the national average, and it has a B+ health rating.
DO NOT TRUST THIS FIRST SOUTHERN BANK - SOUTHERN ILLINOIS - WITH YOUR MONEY!
DO NOT TRUST THIS BANK WITH YOUR MONEY!!!!!! Customer for over 10 years with several small business loans. Loved my loan officer who approved several loans for our small business in Southern Illinois felt really respected from this bank and felt like they wanted to help us grow. .He ALWAYS helped us through any issues we had. For more than 7 of those years stayed current on those loans, sometimes were late but always paid our late fees. 2012 our business took a hard hit and we got behind with the IRS. Our Loan officer told us to get the IRS paid off and helped us consolidate a loan and arranged for our company to pay interest only on our loans for a particular time to help us. THEN FIRST SOUTHERN BANK MERGED WITH THE BANK OF MARION…….maybe this was good for them but TERRIBLE FOR FIRST SOUTHERN CUSTOMERS. We continued to have problems getting our loans current (they stay about 30-60 days late, but I continued to pay them late). This bank sent me to their collection division who has a collection manager from HELL WHO IS VERY RUDE. They harassed me to a point that I have blocked them from all my phones, calling me 3-4 times per week and sending me daily late notices in the mail. They even went as far as to pull the money I owed them out of my business checking account and caused me to bounce over $3000 in other venders and employee checks. Forcing me to shut down our account with them which not only caused me distress, but took away a lot of the trust our venders and employees had for our company. They now continue to try to foreclose on all of our loans at 60 days late. I am now getting threating letters from their attorneys AT 60 DAYS LATE. Its hard enough these days to run small business with 13 employees in this economy, but to not be able to trust your bank, when they empty out your account without any notice. And to have to deal with constant harassing phone calls and threating letters. When owners are stressed and trying their best to keep their business a float, to have to received several harassing phone calls and letters on a daily basis……Owners cannot be in a Positive state of mind and a productive state of mind……ITS NOT RIGHT what they are did us…….this could happen to your business too!!! DO NOT TRUST FIRST SOUTHERN BANK WITH YOUR MONEY!!!! If you own a small business or a business do not bank here!!!
First Southern "Creative" Accounting
Never ever have my husband or myself had such a terrible time with a bank! Since we opted out of overdraft protection they have literally taken checks that have been cleared for over a week (I check my account sometimes several times a day) and then return them as NSF if my husband uses the ATM and goes over a few dollars. Which us NOT supposed to happen. The card in not supposed to clear at all. We then get charged fees for the returned check and for every item since that check was written. It is totally over $1000 now. I am disabled and my husband is retired and a disabled Viet Nam Veteran. This is an awful money grubbing bank. STAY AWAY!
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 15565 |
| Year Established | 1937 |
| Employees | 159 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.23% |
| Return on Equity - YTD | 13.95% |
| Annual Interest Income | $20.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.01B$815.2MM |
| Loans | Q2 2023vs Q2 2022 | $637.9MM$519.3MM |
| Deposits | Q2 2023vs Q2 2022 | $859.0MM$661.0MM |
| Equity Capital | Q2 2023vs Q2 2022 | $88.4MM$60.4MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $8.8MM$4.9MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $11.1MM$7.3MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $2.1MM$215.00K |
