The Federal Savings Bank is headquartered in CHICAGO and is the 49th largest bank in the state of Illinois. It is also the 884th largest bank in the nation. It was established in 2000 and as of June of 2024, it had grown to 1,068 employees at 2 locations. The Federal Savings Bank's money market rates are 6X the national average, and it has an A health rating.
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9/23 - Great Rate, Not-So-Great Customer Service
9/22 - 12 Month CD Paying 5.80% APY
Can't Speak Highly Enough Of This Bank And Its People
I couldn't have had a better experience opening a CD with this bank. Jackie, a VP, was over-the-top helpful, cordial, and competent. I was transferring an IRA from another bank, and the other bank made it into a major hassle with all their abnormal requirements. Jackie was patient and helpful to a fault helping me work through it all. Federal Savings customer service can't be beat. Highly recommended.
CD I Applied For
Easy, pezy and no glitches. Website for CD application went smoothly.
I called customer service before application and they were responsive and answered my questions. Kudos to all and especially CELESTINA BIERNA
Fantastic Service - Repeat Customer
I had a fantastic experience with The Federal Savings Bank, back in April I started a refinance, and then just a few months back I started a construction loan with them. Both times, rates, and fees were lower, and the customer service has been excellent. Outside of a few delays from my builder, this was outside of the banks control. I appreciate their transparency, competitive nature, and their great staff who kept us up to date all the way through. Thanks for two smooth transactions.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35518 |
| Year Established | 2000 |
| Employees | 1068 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.48% |
| Return on Equity - YTD | -3.83% |
| Annual Interest Income | $35.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $1.18B$1.08B |
| Loans | Q2 2024vs Q2 2023 | $1.04B$840MM |
| Deposits | Q2 2024vs Q2 2023 | $714.1MM$592.7MM |
| Equity Capital | Q2 2024vs Q2 2023 | $148.6MM$149.7MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $9.2MM$6.8MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $11.7MM$8MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$200K |