State Bank of The Lakes is headquartered in Antioch and is the 38th largest bank in the state of Illinois. It is also the 618th largest bank in the nation. It was established in 1926 and as of September of 2019, it had grown to 90 employees at 9 locations. State Bank of The Lakes' savings rates are 3X the national average, and it has an A health rating.
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Unprofessional And Borderline Unethical
I recently attended a networking event in which there were representatives from this bank along with several other banks from the community. I happened to observe some of the other banks passing out business cards and networking, which was the entire purpose of the event. When one of the other banks approached the representative from State Bank of the Lakes, the woman from State Bank of the Lakes was so unbelievably rude and insulted the other banks saying they didn't deserve to be there and said they shouldn't bother coming back.
I couldn't believe what I saw. While this bank has been a staple in the Antioch community for years, I can see they are threatened by other banks that have come into the area. Their rates may be nice, but their service, professionalism and ability to meet the needs of their customers is nothing compared to their competitors.
In my opinion this bank feels that they deserve your business just because they have been in town longest and take their customers for granted. I would consider using other banks in town that reward you for your business and take customer service to a much higher level.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 5744 |
| Year Established | 1926 |
| Employees | 90 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.84% |
| Return on Equity - YTD | 6.33% |
| Annual Interest Income | $36.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $1.32B$1.21B |
| Loans | Q3 2019vs Q3 2018 | $945.9MM$863.5MM |
| Deposits | Q3 2019vs Q3 2018 | $1.12B$1.02B |
| Equity Capital | Q3 2019vs Q3 2018 | $172.9MM$157.2MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $7.2MM$4.2MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $8.5MM$2.6MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $698.00K$1.4MM |