Bank of Springfield


3400 West Wabash
Springfield, IL 62711
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Notable Rates APY Vs.Others
Savings 0.15% 1.40% →
1-Year CD 0.31% 1.15% →
2-Year CD 0.65% 1.26% →
5-Year CD 1.31% 1.56% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Bank of Springfield is an FDIC insured institution located in Springfield, IL. It was founded in 1965 and has approximately $1.04 billion in assets. Customers can open an account at one of its 13 branches.

FDIC Insured Yes
FDIC Certificate # 19506
Date Established 1965
Assets $ 1,037.17 million
Loans $ 858.38 million
Deposits $ 853.76 million
Capital $ 99.20 million

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

Deposit Rates - July 12, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
0.15% $100 - Learn More
Money Market
0.20% $1 $19,999 Learn More
Money Market
0.25% $20,000 $49,999 Learn More
3 Mo CD
0.11% $1,000 - Learn More
6 Mo CD
0.16% $1,000 - Learn More
12 Mo CD
0.31% $1,000 - Learn More
18 Mo CD
0.41% $1,000 - Learn More
24 Mo CD
0.65% $1,000 - Learn More
36 Mo CD
0.81% $1,000 - Learn More
48 Mo CD
1.06% $1,000 - Learn More
60 Mo CD
1.31% $1,000 - Learn More

Fixed IRA
0.31% $2,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
0.81% $250 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.10% $1 $4,999 Learn MoreShow Less

Loan Rates - July 12, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Bank of Springfield

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

Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
3.494% 3.375% 1.00 $3,750 $1,106 Learn More
NMLS ID: 2890
License#: 13256
2.950% 2.875% 1.00 $2,438 $1,038 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
More Info
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
4.000 %
$0 Learn More
More Info

Note to Bank of Springfield
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Financial Details

Bank of Springfield Ratio Analysis

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

Texas Ratio
Bank of Springfield U.S. Bank Average
32.88% 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, Bank of Springfield had $28,958,000 in non-current loans and $7,468,000 in owned real estate. To cover these potential losses it had $99,199,000 in equity and $11,586,000 in loans loss reserves. That gives it a Texas Ratio of 32.88%.

Return on Equity
Bank of Springfield U.S. Bank Average
7.81% 7.80%

Bank of Springfield has a Return on Equity of 7.81% 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.

Bank of Springfield U.S. Bank Average
9.56% 12.68%

Bank of Springfield has a Capitalization of 9.56% 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.

Bank of Springfield Balance Sheet Analysis

As of March 31, 2020, Bank of Springfield had assets of $1,037,172,000, loans of $858,376,000, and deposits of $853,761,000. 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
Cash & Balances due from depository institutions $ 64.90 million
Interest-bearing balances $ 53.16 million
Total securities $ 55.56 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 858.38 million
Loan loss allowance $ 11.59 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 7.47 million
Goodwill and other intangibles $ 7.57 million
All other assets $ 22.44 million
     Total Assets $ 937.97 million
Total deposits $ 853.76 million
      Interest-bearing deposits $ 697.35 million
      Deposits held in domestic offices $ 853.76 million
      % insured (estimated) 78.49%
Federal funds purchased and repurchase agreements $ 12.61 million
Trading liabilities N.A.
Other borrowed funds $ 65.00 million
Subordinated debt N.A.
All other liabilities $ 6.61 million
      Total Liabilities $ 937.97 million
      Shareholders’ Equity $ 99.20 million

Summary Income Statement

March 31, 2020
Total Interest Income $ 11.02 million
Total Interest Expense $ 1.81 million
Net interest income $ 9.21 million
Provision for loan and lease losses $ 0.90 million
Total non interest income $ 4.45 million
Total non interest expense $ 10.11 million
Pre-tax Net Operating Income $ 2.65 million

Bank Loan Profile?

The top three loan types in Bank of Springfield’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and 1-4 Family Residential Loans.

Compared to other banks in Illinois, Bank of Springfield has a significantly higher percent of Small Business Loans, Construction and Development Loans, Commercial and Industrial Loans 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 12.14
Credit Card Loans 0.00
Consumer Auto Loans 0.22
Small Business Loans 8.61
Construction and Development Loans 11.52
Commercial Real Estate 31.06
Commercial and Industrial Loans 25.09
Farm Loans 5.22

Frequently Asked Questions About Bank Of Springfield

Branches and Savings

Is Bank Of Springfield FDIC insured?

Yes. It is covered under FDIC Certificate #19506.

Why does Bank Of Springfield pay such low interest on savings accounts?

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

Why are Bank Of Springfield CD rates not competitive?

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

Is Bank Of Springfield a commercial bank?


Where are Bank Of Springfield locations?

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Is Bank Of Springfield open on Saturdays?

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Does Bank Of Springfield offer mortgages?

Compare mortgage rates here.

Does Bank Of Springfield offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bank Of Springfield offer personal loans?

Compare personal loan rates here.

Does Bank Of Springfield offer student loans?

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Background on The Bank

Who owns Bank Of Springfield?

How long has Bank Of Springfield been around?

Can Bank Of Springfield transfer to other banks?

Does Bank Of Springfield have quick pay?

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