McHenry Savings Bank is headquartered in Mchenry and is the 167th largest bank in the state of Illinois. It is also the 2,603rd largest bank in the nation. It was established in 1955 and as of March of 2021, it had grown to 49 employees at 3 locations. McHenry Savings Bank has a B+ health rating.
McHenry Savings Bank has more than money problems, they have ethical problems as well. I spent almost three years fighting them in court for taking money out of my savings account (well into five figures). They used every excuse in the book to defend their actions. I finally got my money back and they had to pay all my attorney fees (about $10k), as well as their attorney fees (which by the way they went through 4 different attorney offices because they kept quitting). We found out a lot about them in the process and also discovered that I wasn't the only one suing them for unethical and illegal activity. I recently learned about the FDIC threatening them to raise capital, or they'll be shut down; I guess that would explain their need to steal money. Stay away from this bank - I selected one star for this bank only because the system made me. They don't deserve any stars.
| Overall | |
|---|---|
| FDIC Certificate # | 30864 |
| Year Established | 1955 |
| Employees | 49 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.67% |
| Return on Equity - YTD | 7.9% |
| Annual Interest Income | $2.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2021vs Q1 2020 | $274.7MM$239.2MM |
| Loans | Q1 2021vs Q1 2020 | $194.9MM$173.9MM |
| Deposits | Q1 2021vs Q1 2020 | $228.4MM$189.5MM |
| Equity Capital | Q1 2021vs Q1 2020 | $23.0MM$21.8MM |
| Loan Loss Allowance | Q1 2021vs Q1 2020 | $1.6MM$1.3MM |
| Unbacked Noncurrent Loans | Q1 2021vs Q1 2020 | $1.2MM$2.3MM |
| Real Estate Owned | Q1 2021vs Q1 2020 | $815.00K$786.00K |
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| McHenry Savings Bank Locations | ||
|---|---|---|
| 10520 North Main St Branch | 10520 North Main Street | Richmond, IL 60071 |
| Mchenry Savings Bank | 353 Bank Drive | Mchenry, IL 60050 |
| 4000-M N. Wilmot Road Branch | 4000-M N. Wilmot Road | Mchenry, IL 60051 |