This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Illinois' Strongest and Weakest Banks

CHICAGO ( TheStreet) -- Illinois, which has more banks and thrifts than any other state, counts 71 institutions with "recommended" ratings of B-plus (good) or higher, according to a review by TheStreet.com Ratings. But 11 of Illinois' 641 banks and savings and loan associations were weighed down with critically poor loan quality.

Illinois has had 17 institutions fail during the current credit crisis, trailing only Georgia, with 24 failures, and ahead of California, with 14, and Florida, with eight.

The most recent Illinois failure and the largest in the state during the crisis was Corus Bank of Chicago, closed by federal regulators on Sept. 11. Corus' deposits were sold by the Federal Deposit Insurance Corp. to MB Financial (MBFI - Get Report). (See TheStreet.com's enhanced interactive Bank Failure Map for a detailed summary.)

Strongest Illinois Banks and Thrifts

In addition to 71 institutions rated B-plus or above in the second quarter, down from 75 in the previous quarter, the state has 37 banks and thrifts rated A- (excellent) or higher.

Illinois Banks and Thrifts Rated A- and Higher (in Millions of Dollars)
Source: SNL Financial

TheStreet.com Ratings uses a very conservative model to assign bank and thrift financial-strength ratings, placing the greatest weight on capital strength, credit quality and earnings stability.

Most of the highest-rated Illinois banks and thrifts were relatively small and had nonperforming asset ratios of less than 1%. Almost all had total risk-based capital ratios greatly exceeding the 10% required for most institutions to be considered well-capitalized under regulatory guidelines.

Largest Illinois Institutions

The following includes capital, earnings and asset-quality indicators.

10 Largest Illinois Banks and S&Ls (in Millions of Dollars)
Source: SNL Financial

The largest Illinois bank or thrift held by a publicly traded holding company is Northern Trust Co., a subsidiary of Northern Trust (NTRS - Get Report), with $62 billion in total assets. It achieved a return on equity of slightly less than 20% for the first quarter and was rated B (good).

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG
BMO $61.96 0.44%
MBFI $31.19 -1.11%
NTRS $69.83 -0.50%
AAPL $128.46 -1.50%
FB $78.97 -1.79%

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

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