This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Illinois Banks Fail at Fast Rate

Stocks in this article: NTRS BMO CORS

CHICAGO ( TheStreet) -- Illinois has had 12 banks fail so far this year, the most of any state except Georgia, with 16.

Still, an analysis of Illinois banks and thrifts by Ratings identified 76 institutions that were in good shape as of March 31. The state has had so many failures, as well as successes, because there are so many banks and thrifts -- 645 -- as regulators allowed branch banking later than most other states. So the Land of Lincoln is lagging behind in the consolidation of its small banks. (See's interactive Bank Failure Map for a summary of all failed banks and thrifts for 2008 and 2009.)

Strongest Illinois Banks and Thrifts

Based on March 31 financial reports, 76 Illinois institutions were rated B-plus (good) or higher, down from 80 the previous quarter.

Illinois Banks and S&Ls Rated B+ or Higher
Source: SNL Financial

The ratings encompass a large number of data, with the greatest weight on capital strength, credit quality and earnings stability. To be considered well-capitalized, most banks, and saving and loans need to maintain a total risk-based capital ratio of at least 10%.

Largest Illinois Institutions

The following table includes capital, earnings and asset-quality ratios for the 10 largest Illinois banks and thrifts.

10 Largest Illinois Banks and S&Ls
Source: SNL Financial

The highest-rated and largest bank among the 10 largest institutions in the state is Northern Trust Co. of Chicago, the main subsidiary of Northern Trust Corp. (NTRS), which was assigned a B-minus (good) financial-strength rating.

The second-biggest is Harris NA, a subsidiary of Bank of Montreal (BMO), which was rated C-minus (fair).

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs