Better Banks


10225 N Knoxville Ave
Peoria, IL 61615
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 4.01% →
1-Year CD N.A. 4.50% →
2-Year CD N.A. 4.73% →
5-Year CD N.A. 4.75% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 1.93% →

2022 Overview

General Bank Information

Better Banks is an FDIC insured institution located in Peoria, IL. It was founded in 1898 and has approximately $0.44 billion in assets. Customers can open an account at one of its 8 branches.

FDIC Insured Yes
FDIC Certificate # 1808
Date Established 1898
Assets $ 439.47 million
Loans $ 262.68 million
Deposits $ 415.37 million
Capital $ 22.57 million

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

Deposit Rates - November 28, 2022

Your Current Location: Connecticut, CT 06828

There are currently no rates available for Better Banks, but see these great savings and CD rates:

Advertiser Disclosure
Checking Rates APY MIN FEE
Better Interest Checking 2.00% $0 $0.00 Learn MoreShow Less

Loan Rates - November 28, 2022

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Better Banks

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 2022

Lender APR Rate (%) Monthly
Learn More
Embrace Home Loans (ICB)
NMLS ID: 2184
6.722% 6.625%
1.00 points
$2,500 fees
$1,601 Learn More
NMLS ID: 2890
License#: 13256
6.226% 6.125%
0.63 points
$2,685 fees
$1,520 Learn More
NMLS ID: 1907

Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 6.490 %
After Intro: 7.500 %
Intro Period: 12 months
$25,000 Learn More
More Info

Note to Better Banks
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Climate Initiatives

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Financial Details

Better Banks Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Better Banks. 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
Better Banks U.S. Bank Average
12.1% 4.06%

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 June 30, 2022, Better Banks had $2,153,000 in non-current loans and $1,001,000 in owned real estate. To cover these potential losses it had $22,572,000 in equity and $3,491,000 in loans loss reserves. That gives it a Texas Ratio of 12.1%.

Return on Equity
Better Banks U.S. Bank Average
13.42% 9.98%

Better Banks has a Return on Equity of 13.42% versus the BestCashCow average of 9.98%. 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.

Better Banks U.S. Bank Average
5.14% 10.23%

Better Banks has a Capitalization of 5.14% versus the BestCashCow average of 10.23. 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.

Better Banks Balance Sheet Analysis

As of June 30, 2022, Better Banks had assets of $439,469,000, loans of $262,683,000, and deposits of $415,370,000. 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

June 30, 2022
Cash & Balances due from depository institutions $ 15.31 million
Interest-bearing balances $ 10.19 million
Total securities $ 148.90 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 262.68 million
Loan loss allowance $ 3.49 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.00 million
Goodwill and other intangibles $ 2.13 million
All other assets $ 6.41 million
     Total Assets $ 416.90 million
Total deposits $ 415.37 million
      Interest-bearing deposits $ 336.21 million
      Deposits held in domestic offices $ 415.37 million
      % insured (estimated) 82.31%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 1.53 million
      Total Liabilities $ 416.90 million
      Shareholders’ Equity $ 22.57 million

Summary Income Statement

June 30, 2022
Total Interest Income $ 6.98 million
Total Interest Expense $ 0.27 million
Net interest income $ 6.72 million
Provision for loan and lease losses $ 0.28 million
Total non interest income $ 2.24 million
Total non interest expense $ 6.53 million
Pre-tax Net Operating Income $ 2.14 million

Bank Loan Profile?

The top three loan types in Better Banks’s loan portfolio are Consumer Auto Loans, 1-4 Family Residential Loans, and Commercial Real Estate.

Compared to other banks in Illinois, Better Banks has a significantly higher percent of Credit Card Loans, Consumer Auto 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 28.67
Credit Card Loans 0.47
Consumer Auto Loans 41.55
Small Business Loans 3.21
Construction and Development Loans 1.60
Commercial Real Estate 7.59
Commercial and Industrial Loans 7.36
Farm Loans 2.54

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