McHenry Savings Bank is headquartered in Mchenry and is the 152nd largest bank in the state of Illinois. It is also the 2,415th largest bank in the nation. It was established in 1955 and as of June of 2022, it had grown to 50 employees at 3 locations. McHenry Savings Bank has an A 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 | 50 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.48% |
| Return on Equity - YTD | 5.76% |
| Annual Interest Income | $4.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $313.9MM$267.9MM |
| Loans | Q2 2022vs Q2 2021 | $219.1MM$195.3MM |
| Deposits | Q2 2022vs Q2 2021 | $271.7MM$226.2MM |
| Equity Capital | Q2 2022vs Q2 2021 | $23.8MM$24.6MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $2.0MM$1.6MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $243.00K$1.0MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $430.00K$934.00K |
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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 Dr | Mchenry, IL 60050 |
| 4000-M N. Wilmot Road Branch | 4000-M N. Wilmot Road | Mchenry, IL 60051 |