Heritage Bank of Schaumburg

Headquarters

1535 Schaumburg Road
Schaumburg, IL 60194
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 1.05% →
1-Year CD 0.30% 1.05% →
2-Year CD 0.60% 1.11% →
5-Year CD N.A. 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

Heritage Bank of Schaumburg is an FDIC insured institution located in Schaumburg, IL. It was founded in 1974 and has approximately $0.13 billion in assets.

FDIC Insured Yes
FDIC Certificate # 21721
Date Established 1974
Assets $ 134.80 million
Loans $ 76.47 million
Deposits $ 114.00 million
Capital $ 20.52 million
 

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

Deposit Rates - August 11, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $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
0.07% $25,000 $29,999 Learn More
Premium Money Market Account
0.05% $25,000 $34,999 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
0.15% $10,000 $14,999 Learn More
6 Mo CD
0.15% $100,000 $199,999 Learn More
12 Mo CD
0.30% $10,000 $14,999 Learn More
12 Mo CD
0.30% $100,000 $199,999 Learn More
18 Mo CD
0.45% $10,000 $14,999 Learn More
18 Mo CD
0.45% $100,000 $199,999 Learn More
24 Mo CD
0.60% $10,000 $14,999 Learn More
24 Mo CD
0.60% $100,000 $199,999 Learn More
36 Mo CD
0.75% $10,000 $14,999 Learn More
36 Mo CD
0.75% $100,000 $199,999 Learn More
48 Mo CD
0.90% $10,000 $14,999 Learn More
48 Mo CD
0.90% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Loan Rates - August 11, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Heritage Bank of Schaumburg

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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.914% 2.875% 0.50 $1,250 $1,038 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
Rocket Mortgage
NMLS ID: 3030
3.494% 3.375% 1.00 $3,750 $1,106 Learn More

Featured - Virginia 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
Bethpage Federal Credit Union
Bethpage Federal Credit Union
3.500 %
$25,000 Learn More
More Info
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
More Info

Note to Heritage Bank of Schaumburg
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Heritage Bank of Schaumburg 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


Heritage Bank of Schaumburg Locations


Financial Details

Heritage Bank of Schaumburg Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Heritage Bank of Schaumburg. 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
Heritage Bank of Schaumburg U.S. Bank Average
2.62% 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, Heritage Bank of Schaumburg had $305,000 in non-current loans and $254,000 in owned real estate. To cover these potential losses it had $20,524,000 in equity and $795,000 in loans loss reserves. That gives it a Texas Ratio of 2.62%.

Return on Equity
Heritage Bank of Schaumburg U.S. Bank Average
6.65% 7.80%

Heritage Bank of Schaumburg has a Return on Equity of 6.65% 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
Heritage Bank of Schaumburg U.S. Bank Average
15.23% 12.68%

Heritage Bank of Schaumburg has a Capitalization of 15.23% 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.

Heritage Bank of Schaumburg Balance Sheet Analysis

As of March 31, 2020, Heritage Bank of Schaumburg had assets of $134,796,000, loans of $76,470,000, and deposits of $114,002,000. 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 $ 28.54 million
Interest-bearing balances $ 26.37 million
Total securities $ 19.03 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 76.47 million
Loan loss allowance $ 0.80 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.25 million
Goodwill and other intangibles $ 8.11 million
All other assets $ 0.82 million
     Total Assets $ 114.27 million
LIABILITIES
Total deposits $ 114.00 million
      Interest-bearing deposits $ 93.19 million
      Deposits held in domestic offices $ 114.00 million
      % insured (estimated) 92.46%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.27 million
      Total Liabilities $ 114.27 million
      Shareholders’ Equity $ 20.52 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 1.08 million
Total Interest Expense $ 0.07 million
Net interest income $ 1.02 million
Provision for loan and lease losses $ 0.02 million
Total non interest income $ 0.06 million
Total non interest expense $ 0.72 million
Pre-tax Net Operating Income $ 0.34 million

Bank Loan Profile?

The top three loan types in Heritage Bank of Schaumburg’s loan portfolio are Multifamily Mortgages, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks in Illinois, Heritage Bank of Schaumburg has a significantly higher percent of Multifamily Mortgages 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 20.32
Multifamily
Mortgages
70.49
Credit Card Loans 0.00
Consumer Auto Loans 0.02
Small Business Loans 0.00
Construction and Development Loans 0.76
Commercial Real Estate 3.71
Commercial and Industrial Loans 5.72
Farm Loans 0.00

Frequently Asked Questions About Heritage Bank Of Schaumburg

Branches and Savings

Is Heritage Bank Of Schaumburg FDIC insured?

Yes. It is covered under FDIC Certificate #21721.

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

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

Why are Heritage Bank Of Schaumburg CD rates not competitive?

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

Is Heritage Bank Of Schaumburg a commercial bank?

Yes

Where are Heritage Bank Of Schaumburg locations?

See branch locations nearby.

Is Heritage Bank Of Schaumburg open on Saturdays?

Is Heritage Bank Of Schaumburg open on Sundays?

What time does Heritage Bank Of Schaumburg open?

What time does Heritage Bank Of Schaumburg close?

Are Heritage Bank Of Schaumburg ATMs Open 24/7?

Do Heritage Bank Of Schaumburg ATMs accept cash deposits?

Can Heritage Bank Of Schaumburg customers use other ATMs?

Do Heritage Bank Of Schaumburg branches have notaries?

Will Heritage Bank Of Schaumburg notarize my document?

What address for Heritage Bank Of Schaumburg should I put for incoming ACH transfers?

Will the Heritage Bank Of Schaumburg branch print checks?

Do Heritage Bank Of Schaumburg checks expire?

Does Heritage Bank Of Schaumburg require US citizenship to open account?

Can Heritage Bank Of Schaumburg close my account?

Does Heritage Bank Of Schaumburg Report to credit bureaus?

Does Heritage Bank Of Schaumburg Use Equifax?

What is Heritage Bank Of Schaumburg's ACH Routing Number?

What is Heritage Bank Of Schaumburg's SWIFT code?

Products

Does Heritage Bank Of Schaumburg offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Heritage Bank Of Schaumburg offer personal loans?

Compare personal loan rates here.

Does Heritage Bank Of Schaumburg offer student loans?

Will Heritage Bank Of Schaumburg cash a check?

Will Heritage Bank Of Schaumburg redeem a savings bond?

Does Heritage Bank Of Schaumburg cash savings bonds?

Will Heritage Bank Of Schaumburg cash money orders?

Can Heritage Bank Of Schaumburg issue a money order?

Does Heritage Bank Of Schaumburg do currency exchange?

Background on The Bank

Who owns Heritage Bank Of Schaumburg?

How long has Heritage Bank Of Schaumburg been around?

Can Heritage Bank Of Schaumburg transfer to other banks?

Does Heritage Bank Of Schaumburg have quick pay?

Does Heritage Bank Of Schaumburg accept rolled coins?

Will Heritage Bank Of Schaumburg accept loose change?

Where is Heritage Bank Of Schaumburg headquarters?

Customer Reviews for Heritage Bank of Schaumburg

There are currently no comments for Heritage Bank of Schaumburg. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →