The Federal Savings Bank is headquartered in CHICAGO and is the 56th largest bank in the state of Illinois. It is also the 1,113th largest bank in the nation. It was established in 2000 and as of March of 2023, it had grown to 1,170 employees at 2 locations. The Federal Savings Bank's CD rates are 6X the national average, and it has a B health rating.
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.
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 Q1 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35518 |
| Year Established | 2000 |
| Employees | 1170 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -2.42% |
| Return on Equity - YTD | -13.27% |
| Annual Interest Income | $9.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $879.9MM$800.0MM |
| Loans | Q1 2023vs Q1 2022 | $649.5MM$473.7MM |
| Deposits | Q1 2023vs Q1 2022 | $492.4MM$575.7MM |
| Equity Capital | Q1 2023vs Q1 2022 | $149.1MM$162.8MM |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $4.8MM$1.9MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $7.9MM$3.8MM |
| Real Estate Owned | Q1 2023vs Q1 2022 | $0$1.8MM |