Illinois' banking industry is less consolidated than some other northern states with large populations, which may have contributed to the failures. New York, for example, had only 203 banks and thrifts chartered with the state as of Dec. 31. Illinois' heavy concentration in manufacturing and its proximity to the troubled Michigan market also creates a hurdle for its banks and thrifts.
To be sure, 80 of 658 Illinois banks and thrifts reporting as of Dec. 31 were assigned financial strength ratings of B-plus (Good Financial Strength) or higher by TheStreet.com Ratings.
Highest gradesThe following is a list of 48 institutions rated A-minus (Excellent Financial Strength) or higher. The list is sorted by rating, and then by total assets. Ratings are based on ratios and other data derived from regulatory filings, with capital adequacy, asset quality and profitability carrying the most weight.
Larger institutionsMost of the institutions rated A-minus or higher are relatively small, as these are the banks and thrifts most likely to maintain higher capital ratios. The following list includes the same ratios and ratings for the 10 largest Illinois banks and S&Ls:
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