First Southern Bank

Overview / Commentary
300 Tower Sq. Plz
Marion, IL 62959-2405

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.

Reviews (2)


Posted by: |

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!


Health Grade Components

FDIC Certificate #15565
Year Established1937
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.23%
Return on Equity - YTD13.95%
Annual Interest Income$20.9MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$1.01B$815.2MM
LoansQ2 2023vs Q2 2022$637.9MM$519.3MM
DepositsQ2 2023vs Q2 2022$859.0MM$661.0MM
Equity CapitalQ2 2023vs Q2 2022$88.4MM$60.4MM
Loan Loss AllowanceQ2 2023vs Q2 2022$8.8MM$4.9MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$11.1MM$7.3MM
Real Estate OwnedQ2 2023vs Q2 2022$2.1MM$215.00K
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Always verify rates and promotions with the bank or credit union. We are not First Southern Bank; 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.

First Southern Bank Savings Account Rates

0.10%--Business Savings
0.10%--HSA Health Plan
0.10%--Star Account

First Southern Bank Money Market Rates

0.25%$2.5k-Premier Money Market
0.25%$2.5k-Premier Business Money Market

First Southern Bank Checking Account Rates

1.05%*-$25kKasasa Cash
OTHER TIERS: 0.15% $25k+
0.20%$1k-Interest Checking
0.20%$1k-Business Interest Checking
0.15%--Fortune 55

First Southern Bank CD Rates

2.53%$1k-30 Month CD
2.53%$1k-36 Month CD
2.53%$1k-48 Month CD
2.53%$1k-60 Month CD
2.53%$1k-28 Month CD
2.42%$1k-24 Month CD
2.27%$1k-18 Month CD
2.27%$1k-15 Month CD
2.22%$1k-12 Month CD
2.01%$2.5k-6 Month CD
1.61%$5k-9 Month Liquid CD
1.51%$2.5k-3 Month CD

First Southern Bank IRA Rates

2.53%$1k-30 Month IRA
2.53%$1k-36 Month IRA
2.53%$1k-48 Month IRA
2.53%$1k-60 Month IRA
2.53%$1k-28 Month IRA
2.42%$1k-24 Month IRA
2.27%$1k-18 Month IRA
2.27%$1k-15 Month IRA
2.22%$1k-12 Month IRA
2.01%$2.5k-6 Month IRA
1.51%$2.5k-3 Month IRA


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