Better Banks

10225 North Knoxville Avenue
Peoria, IL 61615

Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 1808
Date Established 1898
Assets $0.29 billion
Loans $0.19 billion
Deposits $0.27 billion
Capital $0.03 billion

Better Banks is an FDIC insured institution located in Peoria, IL. It was founded in 1898 and has approximately $0.29 billion in assets. Customers can open an account at one of its 8 branches.

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.

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 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 32.91
Multifamily
Mortgages
0.14
Credit Card Loans 0.56
Consumer Auto Loans 41.11
Small Business Loans 5.60
Construction and Development Loans 1.27
Commercial Real Estate 6.62
Commercial and Industrial Loans 5.39
Farm Loans 3.39

Deposit Rates

Your Current Location: Virginia, VA 20146

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

Your Current Location: Virginia, VA 20146

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 - Virginia 30 Year Fixed Mortgage Rates 2018

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com NMLS#2890
NMLS ID: 2890
License#: MC-3098
4.409% 4.375% 0.00 $1,104 $1,249 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
5.125% 5.125% 0.00 $0 $1,362 Learn More
Rocket Mortgage
NMLS ID: 3030
4.990% 4.990% 0.00 $0 $1,341 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2018

Lender Rate (%) Monthly Payment Learn More
Flagstar Bank 5.490% $283.58 Learn More
Third Federal Savings & Loan Assoc. of Cleveland 3.990% $238.42 Learn More

Note to Better Banks
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Better Banks 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


Better Banks Locations

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 BestCashCow.com 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
5.24% 8.32%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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 September 30, 2017, Better Banks had $1,405,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $25,391,000 in equity and $1,435,000 in loans loss reserves. That gives it a Texas Ratio of 5.24%.

Return on Equity
Better Banks U.S. Bank Average
8.94% 8.84%

Better Banks has a Return on Equity of 8.94% versus the BestCashCow average of 8.84%. 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
Better Banks U.S. Bank Average
8.61% 12.21%

Better Banks has a Capitalization of 8.61% versus the BestCashCow average of 12.21. 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 December 31, 2017, Better Banks had assets of $294,904,000, loans of $190,734,000, and deposits of $268,551,000. 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

ASSETS
Cash & Balances due from depository institutions $0.02 billion
Interest-bearing balances $0.02 billion
Total securities $0.08 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.19 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.00 billion
     Total Assets $0.27 billion
LIABILITIES
Total deposits $0.27 billion
      Interest-bearing deposits $0.22 billion
      Deposits held in domestic offices $0.27 billion
      % insured (estimated) 91.40%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.00 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.27 billion
      Shareholders’ Equity $0.03 billion

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $0.01 billion
Total Interest Expense $0.00 billion
Net interest income $0.01 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.01 billion
Pre-tax Net Operating Income $0.00 billion

Frequently Asked Questions About Better Banks

Branches and Savings

Is Better Banks FDIC insured?

Yes. It is covered under FDIC Certificate #1808.

Why does Better Banks pay such low interest on savings accounts?

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

Why are Better Banks CD rates not competitive?

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

Is Better Banks a commercial bank?

Yes

Where are Better Banks locations?

See branch locations nearby.

Is Better Banks open on Saturdays?

Is Better Banks open on Sundays?

What time does Better Banks open?

What time does Better Banks close?

Are Better Banks ATMs Open 24/7?

Do Better Banks ATMs accept cash deposits?

Can Better Banks customers use other ATMs?

Do Better Banks branches have notaries?

Will Better Banks notarize my document?

What address for Better Banks should I put for incoming ACH transfers?

Will the Better Banks branch print checks?

Do Better Banks checks expire?

Does Better Banks require US citizenship to open account?

Can Better Banks close my account?

Does Better Banks Report to credit bureaus?

Does Better Banks Use Equifax?

What is Better Banks's ACH Routing Number?

What is Better Banks's SWIFT code?

Products

Does Better Banks offer mortgages?

Compare mortgage rates here.

Does Better Banks offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Better Banks offer personal loans?

Compare personal loan rates here.

Does Better Banks offer student loans?

Will Better Banks cash a check?

Will Better Banks redeem a savings bond?

Does Better Banks cash savings bonds?

Will Better Banks cash money orders?

Can Better Banks issue a money order?

Does Better Banks do currency exchange?

Background on The Bank

Who owns Better Banks?

How long has Better Banks been around?

Can Better Banks transfer to other banks?

Does Better Banks have quick pay?

Does Better Banks accept rolled coins?

Will Better Banks accept loose change?

Where is Better Banks headquarters?

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