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

Illinois' Strongest and Weakest Banks

Next was Harris NA, held by Bank of Montreal (BMO - Get Report). It maintained its C-minus (fair) rating after posting a second-quarter loss of $44 million. After charging-off $248 million in problem loans in the fourth quarter, nonperforming loans crept up during the first and second quarters, leaving Harris with a nonperforming-assets ratio of 1.62% as of June 30. Loan-loss reserves covered 2.65% of total loans, well ahead of the 1.75% annualized ratio of net charge-offs to total loans for the second quarter.

The bank with the weakest asset quality among the 10 biggest in the state was Amcore Bank NA, a subsidiary of Amcore Financial (AMFI). Amcore was in serious trouble, with an 8.98% nonperforming-assets ratio and a total risk-based capital of 8.78% as of June 30. In late June, the bank agreed with the Federal Reserve and the Office of the Comptroller of the Currency to achieve and maintain a total risk-based capital ratio of 12% by Sept. 30.

Amcore is scheduled to release third-quarter results Oct. 27. While the company announced the sale of four branches in August, it has remained silent about compliance with its regulatory capital requirement.

Illinois Banks With Weakest Loan Quality

Fifteen Illinois institutions were included in TheStreet.com's list of Undercapitalized Banks and Thrifts published Aug. 28 and based on June 30 financial reports. Of 116 undercapitalized institutions on the list, 13 have failed. From 89 banks and thrifts on a similar list published in May, more than half have been shuttered.

There were 23 Illinois banks and thrifts with nonperforming-assets ratios above 10% as of June 30. Nonperforming assets include nonaccrual loans, accruing loans past due 90 days or more, and repossessed real estate.

2 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
Only $9.95
14-Days Free
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 $60.08 0.00%
MBFI $31.21 0.00%
NTRS $70.05 0.00%
AAPL $124.25 0.00%
FB $81.66 0.00%

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs