BMO Harris Bank National Association
111 West Monroe Street
Chicago, IL 60603
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Phone 888 340 2265
2020 Overview
General Bank Information
BMO Harris Bank National Association is an FDIC insured institution located in Chicago, IL. It was founded in 1947 and has approximately $145.17 billion in assets. Customers can open an account at one of its 630 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 16571 |
| Date Established | 1947 |
| Assets | $ 145.17 billion |
| Loans | $ 91.69 billion |
| Deposits | $ 117.02 billion |
| Capital | $ 17.45 billion |
For a more detailed analysis of BMO Harris Bank National Association's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - October 22, 2020
Your Current Location: Connecticut, CT 06828
| Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.05% | $2,500 | $4,999 |
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|
Money Market
|
0.05% | $10,000 | $14,999 |
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|
|
Money Market
|
0.10% | $25,000 | $29,999 |
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|
| CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 3 Mo CD
|
0.05% | $10,000 | $14,999 |
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|
| 3 Mo CD
|
0.05% | $100,000 | $199,999 |
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|
| 6 Mo CD
|
0.30% | $10,000 | $14,999 |
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|
| 6 Mo CD
|
0.30% | $100,000 | $199,999 |
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|
| Special: 11 Mo CD
|
0.70% | $5,000 | - |
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|
| 12 Mo CD
|
0.15% | $10,000 | $14,999 |
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|
| 12 Mo CD
|
0.15% | $100,000 | $199,999 |
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|
| 18 Mo CD
|
0.25% | $10,000 | $14,999 |
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|
| 18 Mo CD
|
0.25% | $100,000 | $199,999 |
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|
| 24 Mo CD
|
0.30% | $10,000 | $14,999 |
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|
| 24 Mo CD
|
0.30% | $100,000 | $199,999 |
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|
| Special: 25 Mo CD
|
0.80% | $5,000 | - |
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|
| 30 Mo CD
|
0.35% | $10,000 | $14,999 |
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|
| 30 Mo CD
|
0.35% | $100,000 | $199,999 |
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|
| 36 Mo CD
|
0.40% | $10,000 | $14,999 |
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|
| 36 Mo CD
|
0.40% | $100,000 | $199,999 |
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|
| 48 Mo CD
|
0.50% | $10,000 | $14,999 |
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|
| 48 Mo CD
|
0.50% | $100,000 | $199,999 |
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|
| Special: 55 Mo CD
|
1.00% | $5,000 | - |
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|
| 60 Mo CD
|
0.60% | $10,000 | $14,999 |
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|
| 60 Mo CD
|
0.60% | $100,000 | $199,999 |
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|
| Fixed IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Special: 11 Mo FIRA
|
0.70% | $5,000 | - | Learn More |
| Special: 25 Mo FIRA
|
0.80% | $5,000 | - | Learn More |
| Special: 55 Mo FIRA
|
1.00% | $5,000 | - | Learn More |
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Int Ckg
|
0.01% | $2,500 | $3,499 | Learn More |
Online Only CD Rates of Bank of Montreal Harris
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 9-Month CD
|
0.10% | $5,000 | - |
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| 1 Year Add-on CD
|
0.20% | $1,000 | - |
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|
| 2-Year CD
|
0.10% | $5,000 | - |
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|
| Checking Rates | APY | MIN | FEE | |
|---|---|---|---|---|
| Smart Money™ Account | 0.00% | $0 | $5.00 | Learn More |
| Smart Advantage™ Account | 0.00% | $0 | $0.00 | Learn More |
| Premier™ Account | 0.00% | $25,000 | $30.00 | Learn More |
Bank Offers
BMO Harris Drops Money Market Rate to 1.85% APY
Bank of Montreal Harris has been aggressively trying to move into the US online banking system with offers that are available only in certain states. That rate offered by BMO has been lowered now from 1.95% APY to 1.85%.
Bank Online Offers
Loan Rates - October 22, 2020
Your Current Location: Connecticut, CT 06828
| Auto Loan Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 5 Year | 5.30% | 5.30% | $475.22 |
| Refinance Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 7 Year Adjustable Conforming See Amortization Table |
4.89% | 4.38% | $1,248.95 | |
| 10 Year Adjustable Conforming See Amortization Table |
4.84% | 4.50% | $1,266.71 | |
| 10 Year Adjustable Jumbo See Amortization Table |
4.81% | 4.50% | $1,266.71 | |
| 15 Year Fixed Conforming See Amortization Table |
4.49% | 4.38% | $1,897.19 | |
| 15 Year Fixed Jumbo See Amortization Table |
4.43% | 4.38% | $1,897.19 | |
| 20 Year Fixed Conforming See Amortization Table |
4.84% | 4.75% | $1,615.56 | |
| 20 Year Fixed Jumbo See Amortization Table |
4.81% | 4.75% | $1,615.56 | |
| 30 Year Fixed Conforming See Amortization Table |
4.94% | 4.88% | $1,323.78 | |
| 30 Year Fixed Jumbo See Amortization Table |
4.93% | 4.88% | $1,323.78 |
| Purchase Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 7 Year Adjustable Conforming See Amortization Table |
4.89% | 4.38% | $1,248.95 | |
| 10 Year Adjustable Conforming See Amortization Table |
4.84% | 4.50% | $1,266.71 | |
| 10 Year Adjustable Jumbo See Amortization Table |
4.81% | 4.50% | $1,266.71 | |
| 15 Year Fixed Conforming See Amortization Table |
4.49% | 4.38% | $1,897.19 | |
| 15 Year Fixed Jumbo See Amortization Table |
4.43% | 4.38% | $1,897.19 | |
| 20 Year Fixed Conforming See Amortization Table |
4.84% | 4.75% | $1,615.56 | |
| 20 Year Fixed Jumbo See Amortization Table |
4.81% | 4.75% | $1,615.56 | |
| 30 Year Fixed Conforming See Amortization Table |
4.94% | 4.88% | $1,323.78 | |
Compare with 3.620% APR and 3.500% 30-Year Fixed RATE from Rocket Mortgage
See All Mortgage Rates |
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| 30 Year Fixed Jumbo See Amortization Table |
4.93% | 4.88% | $1,323.78 | |
|
Compare with 3.620% APR and 3.500% 30-Year Fixed RATE from Rocket Mortgage
See All Mortgage Rates |
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Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.
Branches
BMO Harris Bank National Association 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:
Fairfield,Connecticut
BMO Harris Bank National Association Locations
Financial Details
BMO Harris Bank National Association Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of BMO Harris Bank National Association. 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
| BMO Harris Bank National Association | U.S. Bank Average |
|---|---|
| 5.63% | 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, BMO Harris Bank National Association had $1,016,373,000 in non-current loans and $19,319,000 in owned real estate. To cover these potential losses it had $17,454,894,000 in equity and $933,271,000 in loans loss reserves. That gives it a Texas Ratio of 5.63%.
Return on Equity
| BMO Harris Bank National Association | U.S. Bank Average |
|---|---|
| 3.89% | 7.80% |
BMO Harris Bank National Association has a Return on Equity of 3.89% 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
| BMO Harris Bank National Association | U.S. Bank Average |
|---|---|
| 12.02% | 12.68% |
BMO Harris Bank National Association has a Capitalization of 12.02% 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.
BMO Harris Bank National Association Balance Sheet Analysis
As of March 31, 2020, BMO Harris Bank National Association had assets of $145,168,865,000, loans of $91,687,129,000, and deposits of $117,024,635,000. 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 | $ 14.61 billion |
| Interest-bearing balances | $ 13.41 billion |
| Total securities | $ 27.09 billion |
| Federal funds sold and reverse repurchase | $ 199.71 million |
| Net loans and leases | $ 91.69 billion |
| Loan loss allowance | $ 933.27 million |
| Trading account assets | $ 754.45 million |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 19.32 million |
| Goodwill and other intangibles | $ 3.21 billion |
| All other assets | $ 6.57 billion |
| Total Assets | $ 127.71 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 117.02 billion |
| Interest-bearing deposits | $ 89.01 billion |
| Deposits held in domestic offices | $ 117.02 billion |
| % insured (estimated) | 43.74% |
| Federal funds purchased and repurchase agreements | $ 295.98 million |
| Trading liabilities | $ 39.01 million |
| Other borrowed funds | $ 7.20 billion |
| Subordinated debt | $ 400.00 million |
| All other liabilities | $ 2.75 billion |
| Total Liabilities | $ 127.71 billion |
| Shareholders’ Equity | $ 17.45 billion |
Summary Income Statement
March 31, 2020| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 1,111.12 million |
| Total Interest Expense | $ 290.62 million |
| Net interest income | $ 820.50 million |
| Provision for loan and lease losses | $ 190.06 million |
| Total non interest income | $ 241.64 million |
| Total non interest expense | $ 664.95 million |
| Pre-tax Net Operating Income | $ 207.13 million |
Bank Loan Profile?
The top three loan types in BMO Harris Bank National Association’s loan portfolio are Commercial and Industrial Loans, 1-4 Family Residential Loans, and Commercial Real Estate.
Compared to other banks in Illinois, BMO Harris Bank National Association has a significantly higher percent of 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.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 12.00 | ✓ | ||
| Multifamily Mortgages |
0.94 | ✓ | ||
| Credit Card Loans | 0.44 | ✓ | ||
| Consumer Auto Loans | 5.30 | ✓ | ||
| Small Business Loans | 0.72 | ✓ | ||
| Construction and Development Loans | 3.53 | ✓ | ||
| Commercial Real Estate | 7.66 | ✓ | ||
| Commercial and Industrial Loans | 44.44 | ✓ | ||
| Farm Loans | 0.59 | ✓ | ||
Frequently Asked Questions About Bmo Harris Bank National Association
Branches and Savings
Is Bmo Harris Bank National Association FDIC insured?
Yes. It is covered under FDIC Certificate #16571.
Why does Bmo Harris Bank National Association pay such low interest on savings accounts?
See the best online savings rates here. See the best local savings rates here.
Why are Bmo Harris Bank National Association CD rates not competitive?
See the best online CD rates here. See the best local CD rates here.
Is Bmo Harris Bank National Association a commercial bank?
Yes
Is Bmo Harris Bank National Association open on Saturdays?
Is Bmo Harris Bank National Association open on Sundays?
What time does Bmo Harris Bank National Association open?
What time does Bmo Harris Bank National Association close?
Are Bmo Harris Bank National Association ATMs Open 24/7?
Do Bmo Harris Bank National Association ATMs accept cash deposits?
Can Bmo Harris Bank National Association customers use other ATMs?
Do Bmo Harris Bank National Association branches have notaries?
Will Bmo Harris Bank National Association notarize my document?
What address for Bmo Harris Bank National Association should I put for incoming ACH transfers?
Will the Bmo Harris Bank National Association branch print checks?
Do Bmo Harris Bank National Association checks expire?
Does Bmo Harris Bank National Association require US citizenship to open account?
Can Bmo Harris Bank National Association close my account?
Does Bmo Harris Bank National Association Report to credit bureaus?
Does Bmo Harris Bank National Association Use Equifax?
What is Bmo Harris Bank National Association's ACH Routing Number?
What is Bmo Harris Bank National Association's SWIFT code?
Products
Does Bmo Harris Bank National Association offer home equity lines of credit and home equity loans?
Compare home equity lines of credit rates here.
GAM
May 26, 2020
BEWARE! Very easy to open MM savings account which I did with $5k ACH transfer (minimum for high yield rate). Fortunately I discovered that ACH withdrawals are limited to $5K daily limit and perhaps $10K pending total. They have 7 days notice requirement also but limits were not obvious. No answers from IM communications and customer service reps are of no help. If you intent to fund account with significant amount, liquidity becomes an issue. I will NOT place any additional funds with this bank; will close after 90 days to avoid penalty fee. STAY AWAY!!
Is this review helpful? Yes:5 / No: 0
Richard in AZ
April 05, 2020 |
Difficult to move money from mature CD
Is this review helpful? Yes:1 / No: 0
wolfcreek
April 17, 2019 |
I left my previous bank and went to Bmo.They take good care of me and their cd rates are higher then most
Is this review helpful? Yes:0 / No: 0
iamisay
May 14, 2017 |
Was offered one rate but when I got my monthly statement I was not given what was promised in writing and I have been fighting this for 3 months to get the interest rate I was promised in writing.
Is this review helpful? Yes:7 / No: 0
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