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Overview / Commentary
110 South Main Street
Cherry, IL 61317

State Bank of Cherry is headquartered in Cherry and is the 335th largest bank in the state of Illinois. It is also the 4,552nd largest bank in the nation. It was established in 1906 and as of September of 2017, it had grown to 10 employees at 1 location. State Bank of Cherry has an A health rating.

Reviews (1)

Local small banks the best way to go

We have banked with our local bank for over 10 years now. When we walk into the bank every worker knows who we are by name and that is a great feeling. They offer free checking, savings, and online banking which is harder to find with the large banks. If we have any discrepancies on any of our accounts we can call and get answers and help immediately. We always feel confident that our needs are being met by our bank. They do offer money markets and IRAs but we do not currently have either. There has been several occassions where a charge did not look right when it came through to our account and the bank has called us immediately to make sure the purchase was made by me or my husband. It is nice to know that we can count on our bank to ensure our money is safe.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. State Bank of Cherry has a relatively low asset base.

Health Grade Components

FDIC Certificate #11686
Year Established1906
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.34%
Return on Equity - YTD10.27%
Annual Interest Income$2.1MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$85.1MM$85.7MM
LoansQ3 2017vs Q3 2016$48.2MM$37.8MM
DepositsQ3 2017vs Q3 2016$73.6MM$74.2MM
Equity CapitalQ3 2017vs Q3 2016$11.5MM$11.3MM
Loan Loss AllowanceQ3 2017vs Q3 2016$501.00K$444.00K
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$8.00K$0
Real Estate OwnedQ3 2017vs Q3 2016$0$0
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State Bank of Cherry Savings Account Rates

0.50%--Passbook IRA
0.15%--Passbook Savings Account
0.10%--Christmas Club
0.05%--HSA Account

State Bank of Cherry Money Market Rates

0.15%--Money Market Account

State Bank of Cherry Checking Account Rates

0.05%--NOW Account

State Bank of Cherry CD Rates

2.02%$1k-60 Month CD
2.02%$25-5 Year Journey Ahead CD
1.51%$1k-48 Month CD
1.51%$25-3 Year Journey Ahead CD
1.00%$1k-36 Month CD
1.00%$25-1 Year Journey Ahead CD
0.70%$1k-30 Month CD
0.60%$1k-24-35 Month CD
0.50%$1k-18-23 Month CD
0.40%$1k-12-17 Month CD
0.30%$1k-6-11 Month CD
0.20%$1k-1-5 Month CD

State Bank of Cherry IRA Rates

2.02%$1k-60 Month IRA
1.51%$1k-48 Month IRA
1.00%$1k-36 Month IRA
0.70%$1k-30 Month IRA
0.60%$1k-24-35 Month IRA
0.50%$1k-18-23 Month IRA
0.40%$1k-12-17 Month IRA
0.30%$1k-6-11 Month IRA
0.20%$1k-1-5 Month IRA

State Bank of Cherry Locations
State Bank Of Cherry110 South Main StreetCherry, IL 61317