1st Equity Bank

Headquarters

3956 West Dempster Street
Skokie, IL 60076
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

1st Equity Bank is an FDIC insured institution located in Skokie, IL. It was founded in 1997 and has approximately $0.09 billion in assets.

FDIC Insured Yes
FDIC Certificate # 34393
Date Established 1997
Assets $ 93.46 million
Loans $ 74.59 million
Deposits $ 73.44 million
Capital $ 14.71 million
 

For a more detailed analysis of 1st Equity Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 27, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - October 27, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for 1st Equity Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

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3.746% 3.625% 1.00 $3,750 $1,141 Learn More
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Featured - Virginia Home Equity Line Of Credit Rates 2020

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2.240 %
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2.990 %
After Intro: 3.500 %
Intro Period: 12 months
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Note to 1st Equity Bank
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Branches

1st Equity Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


1st Equity Bank Locations


Financial Details

1st Equity Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of 1st Equity Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
1st Equity Bank U.S. Bank Average
27.32% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, 1st Equity Bank had $4,329,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $14,711,000 in equity and $1,136,000 in loans loss reserves. That gives it a Texas Ratio of 27.32%.

Return on Equity
1st Equity Bank U.S. Bank Average
7.22% 7.80%

1st Equity Bank has a Return on Equity of 7.22% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
1st Equity Bank U.S. Bank Average
15.74% 12.68%

1st Equity Bank has a Capitalization of 15.74% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

1st Equity Bank Balance Sheet Analysis

As of March 31, 2020, 1st Equity Bank had assets of $93,462,000, loans of $74,592,000, and deposits of $73,436,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 16.36 million
Interest-bearing balances $ 13.10 million
Total securities $ 0.19 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 74.59 million
Loan loss allowance $ 1.14 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 0.92 million
     Total Assets $ 78.75 million
LIABILITIES
Total deposits $ 73.44 million
      Interest-bearing deposits $ 65.84 million
      Deposits held in domestic offices $ 73.44 million
      % insured (estimated) 87.10%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 5.18 million
Subordinated debt N.A.
All other liabilities $ 0.14 million
      Total Liabilities $ 78.75 million
      Shareholders’ Equity $ 14.71 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 0.98 million
Total Interest Expense $ 0.27 million
Net interest income $ 0.71 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.03 million
Total non interest expense $ 0.47 million
Pre-tax Net Operating Income $ 0.27 million

Bank Loan Profile?

The top three loan types in 1st Equity Bank’s loan portfolio are Multifamily Mortgages, 1-4 Family Residential Loans, and Commercial Real Estate.

Compared to other banks in Illinois, 1st Equity Bank has a significantly higher percent of Multifamily Mortgages on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 26.28
Multifamily
Mortgages
29.98
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 0.00
Construction and Development Loans 6.38
Commercial Real Estate 20.62
Commercial and Industrial Loans 18.25
Farm Loans 0.00

Frequently Asked Questions About 1st Equity Bank

Branches and Savings

Is 1st Equity Bank FDIC insured?

Yes. It is covered under FDIC Certificate #34393.

Why does 1st Equity Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are 1st Equity Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is 1st Equity Bank a commercial bank?

Yes

Where are 1st Equity Bank locations?

See branch locations nearby.

Is 1st Equity Bank open on Saturdays?

Is 1st Equity Bank open on Sundays?

What time does 1st Equity Bank open?

What time does 1st Equity Bank close?

Are 1st Equity Bank ATMs Open 24/7?

Do 1st Equity Bank ATMs accept cash deposits?

Can 1st Equity Bank customers use other ATMs?

Do 1st Equity Bank branches have notaries?

Will 1st Equity Bank notarize my document?

What address for 1st Equity Bank should I put for incoming ACH transfers?

Will the 1st Equity Bank branch print checks?

Do 1st Equity Bank checks expire?

Does 1st Equity Bank require US citizenship to open account?

Can 1st Equity Bank close my account?

Does 1st Equity Bank Report to credit bureaus?

Does 1st Equity Bank Use Equifax?

What is 1st Equity Bank's ACH Routing Number?

What is 1st Equity Bank's SWIFT code?

Products

Does 1st Equity Bank offer mortgages?

Compare mortgage rates here.

Does 1st Equity Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does 1st Equity Bank offer personal loans?

Compare personal loan rates here.

Does 1st Equity Bank offer student loans?

Will 1st Equity Bank cash a check?

Will 1st Equity Bank redeem a savings bond?

Does 1st Equity Bank cash savings bonds?

Will 1st Equity Bank cash money orders?

Can 1st Equity Bank issue a money order?

Does 1st Equity Bank do currency exchange?

Background on The Bank

Who owns 1st Equity Bank?

How long has 1st Equity Bank been around?

Can 1st Equity Bank transfer to other banks?

Does 1st Equity Bank have quick pay?

Does 1st Equity Bank accept rolled coins?

Will 1st Equity Bank accept loose change?

Where is 1st Equity Bank headquarters?

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