Illinois Banks: Strongest and Weakest

Largest Illinois Banks

JPMorgan Chase Bank NA (the main banking subsidiary of JPMorgan Chase (JPM)) continues to lead in deposit market share in Illinois, with 15.6% of all deposits in the state as of June 30, 2011, according to the most recent FDIC data. JPMorgan Chase's market share increased from 13.5% a year earlier.

BMO Harris BANK, NA of Chicago, which is the second-largest Illinois bank, with $97.3 billion in total assets as of Dec. 30, moved into a second-place deposit market share of 9% as of June 30, 2011. The bank is held by Bank of Montreal (BMO).

Bank of America, NA, which is the main banking subsidiary of Bank of America (BAC), slipped to third place, with a 7% deposit market share in Illinois, declining from 9% a year earlier. This was in part because of continued poaching of customers from the former LaSalle Bank, which Bank of America acquired in 2007.

Here are the 10 largest banks headquartered in the state, along with key metrics as of Dec. 30:

The largest Illinois bank is Northern Trust Co. of Chicago, which had $99.8 billion in total assets as of Dec 30, and is the largest subsidiary of Northern Trust Corp. (NTRS). Northern Trust Co.'s fourth-quarter return on average assets (ROA) was 0.92%, which is a respectable return in the current environment.

The holding company's shares have returned 11% year-to-date, through Thursday's market close at $43.88. Based on a quarterly payout of 28 cents, the shares have a dividend yield of 2.55%. The shares are costly in the current environment, trading for 1.6 times tangible book value, according to HighlineFI, and for 15 times the consensus 2012 earnings estimate of $2.94 a share. The Consensus 2013 EPS estimate is $3.38.

Interested in more on Northern Trust? See TheStreet Ratings' report card for this stock.

After Northern Trust Co. and BMO Harris, the next largest Illinois bank held by a publicly traded holding company is PrivateBank & Trust Co. of Chicago, which had $12.4 billion in total assets as of Dec. 30, and is the main subsidiary of PrivateBancorp (PVTB).

PrivateBank & Trust's fourth-quarter ROA was 0.62%, and the bank's nonperforming assets ratio was a stubbornly high 4.06% as of Dec. 30, although it improved from 4.55% the previous quarter and 4.47% in the fourth quarter of 2010.

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