First American Bank

Headquarters

700 Busse Road
Elk Grove Village, IL 60007
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.01% 0.95% →
1-Year CD 0.25% 1.01% →
2-Year CD 0.35% 0.95% →
5-Year CD 0.70% 1.30% →
30-Year Mortgage 3.95% 2.80% →
15-Year Mortgage 3.56% 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

First American Bank is an FDIC insured institution located in Elk Grove Village, IL. It was founded in 1901 and has approximately $5.6 billion in assets. Customers can open an account at one of its 54 branches.

FDIC Insured Yes
FDIC Certificate # 3657
Date Established 1901
Assets $ 5.60 billion
Loans $ 2.12 billion
Deposits $ 3.72 billion
Capital $ 328.86 million
 

For a more detailed analysis of First American Bank'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
0.01% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.05% $10,000 $14,999 Learn More
3 Mo CD
0.05% $100,000 $199,999 Learn More
6 Mo CD
0.10% $10,000 $14,999 Learn More
6 Mo CD
0.10% $100,000 $199,999 Learn More
12 Mo CD
0.25% $10,000 $14,999 Learn More
12 Mo CD
0.25% $100,000 $199,999 Learn More
18 Mo CD
0.35% $10,000 $14,999 Learn More
18 Mo CD
0.35% $100,000 $199,999 Learn More
24 Mo CD
0.35% $10,000 $14,999 Learn More
24 Mo CD
0.35% $100,000 $199,999 Learn More
30 Mo CD
0.35% $10,000 $14,999 Learn More
30 Mo CD
0.35% $100,000 $199,999 Learn More
36 Mo CD
0.50% $10,000 $14,999 Learn More
36 Mo CD
0.50% $100,000 $199,999 Learn More
48 Mo CD
0.55% $10,000 $14,999 Learn More
48 Mo CD
0.55% $100,000 $199,999 Learn More
60 Mo CD
0.70% $10,000 $14,999 Learn More
60 Mo CD
0.70% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.01% $2,500 $3,499 Learn MoreShow Less

Loan Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828

Auto Loan Rates APR Rate Monthly Payment
3 Year 3.25% 3.25% $729.79
4 Year 3.25% 3.25% $556.12
5 Year 3.50% 3.50% $454.79
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

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

First American 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:
Fairfield,Connecticut


First American Bank Locations


Financial Details

First American Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of First American 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
First American Bank U.S. Bank Average
7.36% 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, First American Bank had $24,635,000 in non-current loans and $1,305,000 in owned real estate. To cover these potential losses it had $328,858,000 in equity and $23,371,000 in loans loss reserves. That gives it a Texas Ratio of 7.36%.

Return on Equity
First American Bank U.S. Bank Average
7.63% 7.80%

First American Bank has a Return on Equity of 7.63% 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
First American Bank U.S. Bank Average
5.87% 12.68%

First American Bank has a Capitalization of 5.87% 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.

First American Bank Balance Sheet Analysis

As of March 31, 2020, First American Bank had assets of $5,600,015,000, loans of $2,118,794,000, and deposits of $3,723,309,000. 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 $ 110.25 million
Interest-bearing balances $ 47.44 million
Total securities $ 3.18 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.12 billion
Loan loss allowance $ 23.37 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.31 million
Goodwill and other intangibles $ 40.42 million
All other assets $ 74.59 million
     Total Assets $ 5.27 billion
LIABILITIES
Total deposits $ 3.72 billion
      Interest-bearing deposits $ 2.68 billion
      Deposits held in domestic offices $ 3.72 billion
      % insured (estimated) 58.24%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 117.51 million
Other borrowed funds $ 1,412.35 million
Subordinated debt N.A.
All other liabilities $ 17.99 million
      Total Liabilities $ 5.27 billion
      Shareholders’ Equity $ 328.86 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 46.17 million
Total Interest Expense $ 13.68 million
Net interest income $ 32.49 million
Provision for loan and lease losses $ 1.70 million
Total non interest income N.A.
Total non interest expense $ 34.19 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

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

Compared to other banks in Illinois, First American Bank has a significantly higher percent of Construction and Development 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 25.40
Multifamily
Mortgages
9.16
Credit Card Loans 0.00
Consumer Auto Loans 4.25
Small Business Loans 6.05
Construction and Development Loans 7.36
Commercial Real Estate 25.33
Commercial and Industrial Loans 21.36
Farm Loans 0.00

Frequently Asked Questions About First American Bank

Branches and Savings

Is First American Bank FDIC insured?

Yes. It is covered under FDIC Certificate #3657.

Why does First American Bank pay such low interest on savings accounts?

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

Why are First American Bank CD rates not competitive?

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

Is First American Bank a commercial bank?

Yes

Where are First American Bank locations?

See branch locations nearby.

Is First American Bank open on Saturdays?

Is First American Bank open on Sundays?

What time does First American Bank open?

What time does First American Bank close?

Are First American Bank ATMs Open 24/7?

Do First American Bank ATMs accept cash deposits?

Can First American Bank customers use other ATMs?

Do First American Bank branches have notaries?

Will First American Bank notarize my document?

What address for First American Bank should I put for incoming ACH transfers?

Will the First American Bank branch print checks?

Do First American Bank checks expire?

Does First American Bank require US citizenship to open account?

Can First American Bank close my account?

Does First American Bank Report to credit bureaus?

Does First American Bank Use Equifax?

What is First American Bank's ACH Routing Number?

What is First American Bank's SWIFT code?

Products

Does First American Bank offer mortgages?

Compare mortgage rates here.

Does First American Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does First American Bank offer personal loans?

Compare personal loan rates here.

Does First American Bank offer student loans?

Will First American Bank cash a check?

Will First American Bank redeem a savings bond?

Does First American Bank cash savings bonds?

Will First American Bank cash money orders?

Can First American Bank issue a money order?

Does First American Bank do currency exchange?

Background on The Bank

Who owns First American Bank?

How long has First American Bank been around?

Can First American Bank transfer to other banks?

Does First American Bank have quick pay?

Does First American Bank accept rolled coins?

Will First American Bank accept loose change?

Where is First American Bank headquarters?

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