Republic Bank of Chicago is headquartered in Oak Brook and is the 22nd largest bank in the state of Illinois. It is also the 452nd largest bank in the nation. It was established in 1964 and as of June of 2022, it had grown to 257 employees at 19 locations. Republic Bank of Chicago's money market rates are 10X the national average, and it has a B+ health rating.
Related Posts
1/25 - Digital Savings Account Now 4.37% APY
1/20 - Republic Bank of Chicago Digital Money Market APY Inches Upward
1/11 - Digital Savings Rate 4.28%
12/20 - Republic Bank Is Now 4.25% APY
11/16 - Republic Bank Of Chicago Has Joined The 4% Club
9/21 - Republic Bank Of Chicago Raises Digital Money Market To 2.76% APY
8/25 - Republic Bank of Chicago Unveils Digital Money Market In 46 States
8/13 - 2.26% Digital Money Market
6/20 - 9 Month CD At 1.67% Apy
10/8/17 - Republic Bank Power Index Money Market - Chicagoland
8/30/17 - Republic Bank (Chicago) Adds 19-Month CD Special
8/21/17 - 1.80% 19-Month CD Special - Chicagoland
3/12/17 - 1.15% 13-Month CD Special - Chicagoland
5/22/14 - Special 2-Year CD at Republic Bank of Chicago - Local Only
10/4/09 - 2.50% 18-Month CD & 2.25% Money Market Account at AztecAmerica Bank in Chicago - Local Only
6/7/09 - 2.50% 16-Month CD at Republic Bank of Chicago - Local Only
6/5/09 - 37th Bank Failure of 2009
10/14/08 - 4.44% 13-Month CD at Republic Bank in Illinois
6/24/07 - 6% 11-Month CD at an Illinois Bank (Republic Bank of Chicago)
EXCELLENT STARTING EXPERIENCE !!!!!!
I just opened a MM account with Republic/Chicago and can not speak high enough of their professional and friendly service.
In no certain order:
1) Opening an account: Their online system was straight forward and uncomplicated with good identification security to determine who I was.
It was still quick, and virtually immediate in response and establishing my account.
2) Funding: Their funding system was easy and none of this PLAID system whereby you have to give your passwords/etc, They sent trial deposits immediately.
3) Beneficiaries: POD designations are done by separate and quick E-mail. (POD designations are very important to me in regard to both estate planning and FDIC insurance coverage.)
I reached a CSR IMMEDIATELY who immediately supplied me the forms,, and followed through immediately with confirmation and evidence that my beneficiaries were properly of bank record.(If you are unaware, it is extremely important that those records are of proper bank record in regard to FDIC coverage and estate records.)
4)Security: In completing my online account, I had to second confirm several decisions with telephone or text confirmations. Worked flawlessly. I like good security.!!!!
Their ACH transfer capability, originated by Republic , is relatively very limited in dollars permitted... but they fully honor an external source's push or pull demand. I understand their limited originator restrictions, as it minimizes their liability, and I consider it an additional security measure for me.
CUSTOMER SERVICE: I give it **********+ plus stars on my experience. I reached a representative immediately. BIANCA was well spoken and fully understandable and a local bank agent. She was knowledgeable, professional, courteous and honestly friendly. Her subsequent E-mail responses were almost immediate and her follow-up thorough with additional helpful information.
She even caught MY MISTAKE and promptly took care of it.
I felt like I had a local banker that honestly gave a darn about my business and wanted to do a great job. I suspect any other interactions with Republic will be similar.
Telephone banking: I'm older and don't use that, so I can not speak to it.
From my initial experience, I very much look forward to banking with this institution.
Nicest Bank
I have been going to this Bank in Lincolnwood since 1967 when it was called Bank Of Lincolnwood & continued on after Republic Bank took over in 2008. I want to say that these are the nicest people who work at this Bank, & always have time to take care of their customers. Always pleasant & helpful. The best in customer service. U really feel good ?? that there are such caring people. I live now in Park Ridge, about 5 miles away, & while I wish they were closer for convenience, have no problem making the trip to this branch. Open an account & stick with them. U will be happy.
Enticed By 4.25% APY. So Far, No Major Problems
Due to numerous bad experiences over many years with many banks, I emailed questions BEFORE applying online to open a Digital Money Market account. I received a very prompt response and here is what I learned:
1. No $ cap on balance in the high yield account.
2. Initial funding by ACH from your other bank.
3. Initial funding limit: $75,000.
4. $50 credit for wiring $ into account (limit 1).
5. Online application process was as easy as they get but you do not get instant approval or account number so I deducted 1 overall star.
6. Two mini deposits will be made to link external funding account within 1 to 3 days. After you verify with Republic, your ACH deposit/transfer will be made. They don't have/use Plaid for instant linking so I deducted 2nd overall star.
What A Mess
I recently opened a new account from a webpage ad for this bank as they have a good interest rate. I called and spoke to several people in Chicago and they couldn't have been nicer, answered my questions, and were so nice made me want to visit Chicago! Then the microdeposits when through and I clicked on the link in the email they sent to open the account. Using the activation code, etc provided, it said "no such code exists" and other error messages. I tried refreshing the browser, etc etc and nothing worked. Then the problem started. I called and spoke to a woman who had no idea what I was talking about. She said she was in the online banking dept. but she was no help at all, and I was very courteous and patient as it's not her fault she's not properly trained. So I tried a different person and lady #2 was the first person I ran into that wasn't very nice. She also couldn't help me. I remained calm and courteous and ended up with a dial tone, the signal a cust ser rep gives you when they can't help you and they just give up, or if you are rude they hang up on you. So I tried lady #3 and she was GREAT. She said YOU ARE NOT THE FIRST CALL ON THIS, WE'VE GOTTEN OTHER CALLS ON THIS, WE KNOW WE HAVE A PROBLEM AND WE'VE SENT NOTES TO MARKETING TO GET THEM TO FIX IT FOR SOMETIME. Great. So they want me to trust them with my money online with no local branch for me to go to as I live in Idaho, and they can't even figure out how to establish new accounts without a big huge mess and numerous phone calls to poorly trained employees. Thank God I was able to finally get through to a rep who knew WTF she was doing. What a mess. I'm a senior citizen disabled veteran and frankly I don't need this stress in my life.
Cannot Get A Simple Answer…Confused
I was considering opening an account. Called the customer service to find out where on their website I could find Legal Terms and Agreement.
Day 1
Spoke with a person number 1. The person number one did not know how to find the legal document and was not willing to answer any of my questions on their products….
was transferred to a person number 2. No answer. Was prompt to leave a message with my phone number and name. Message left. No call from the bank.
Day 2.
Spoke with a person number 1 who was not willing to answer any of my basic questions on potential accounts, was transferred to a person number 2 who did not want to talk with me either. Was transferred to a person number 3. Same story. Was transferred to person number 4 who appeared to be the same person I left a message a day before. No answer. Left a message with my name and phone number. No call back…
How can I trust a bank which my funds if I cannot find out how my account would be handled?
Confused…
Horrible Service And Horrible Republic Bank Of Berkeley IL
this bank is horrid! they are flat out liars and dont follow through with things, my husband went in there to deposit a check and they wouldnt let him, i am living out of state from him so they told him to have me sign it and they will deposit it! it was endorsed and they told him when he was there they would do it as soon as i signed it! well i did so and sent it to my husband for it to be deposited they refused to do it! it was a tax check, which means that there was no way for it to not be good! weve done it before and now all of a sudden they cant! which is flat out ridiculous! my husband and i have always done this and we were treated very badly by them! Their rates are terrible and you dont save with them! someone who wasnt even the manager was snooty to us so we are done with these liars!
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 19333 |
| Year Established | 1964 |
| Employees | 257 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.45% |
| Return on Equity - YTD | 13.83% |
| Annual Interest Income | $41.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $2.43B$2.60B |
| Loans | Q2 2022vs Q2 2021 | $1.47B$1.46B |
| Deposits | Q2 2022vs Q2 2021 | $2.11B$2.19B |
| Equity Capital | Q2 2022vs Q2 2021 | $253.7MM$253.4MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $22.3MM$24.7MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $16.5MM$23.9MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $7.8MM$9.6MM |
