The Federal Savings Bank is headquartered in Chicago and is the 42nd largest bank in the state of Illinois. It is also the 692nd largest bank in the nation. It was established in 2000 and as of December of 2020, it had grown to 1,717 employees at 2 locations. The Federal Savings Bank's money market rates are 36% higher than the national average, and it has an A health rating.
Great Refinance Experience...No Hassle
We refinanced our home with The Federal Savings Bank...What a Great Experience. No runarounds just the truth. Had been referred by a friend and glad we went with them. They were upfront with everything in the beginning and said what they would do and did what they said. They worked really hard, most everything was online, very easy. Great Rate with no hassle and a short start to finish. We closed, payoff in two days, we took out a little for home repairs that was deposited in two days, and can't say enough how much I highly recommend. No Scams here or High cost for pulling out a little for repairs.
Waste Of Time
I wasted an hour in an attempt to open a CD with this bank. They're incompetent and their website is for loans, not for purchasing CDs. If you want a CD they will mail you an application (SMH!).
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35518 |
| Year Established | 2000 |
| Employees | 1717 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 10.97% |
| Return on Equity - YTD | 87.34% |
| Annual Interest Income | $26.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $1.42B$604.5MM |
| Loans | Q4 2020vs Q4 2019 | $1.28B$552.1MM |
| Deposits | Q4 2020vs Q4 2019 | $1.19B$467.4MM |
| Equity Capital | Q4 2020vs Q4 2019 | $160.6MM$105.8MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $2.4MM$1.2MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $7.3MM$3.5MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |