Morton Community Bank

Headquarters

721 W Jackson St
Morton, IL 61550
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 4.01% →
1-Year CD N.A. 4.65% →
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

Morton Community Bank is an FDIC insured institution located in Morton, IL. It was founded in 1961 and has approximately $5.02 billion in assets. Customers can open an account at one of its 41 branches.

FDIC Insured Yes
FDIC Certificate # 18429
Date Established 1961
Assets $ 5.02 billion
Loans $ 2.65 billion
Deposits $ 4.41 billion
Capital $ 294.75 million
 

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

Deposit Rates - December 1, 2022

Your Current Location: Virginia, VA 20146

Checking Rates APY MIN FEE
Interest Checking 0.03% $1,000 $5.00 Learn MoreShow Less
 

Loan Rates - December 1, 2022

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Morton Community Bank

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 2022

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Morty, Inc.
NMLS ID: 1429243
5.758% 5.690%
0.75 points
$1,858 fees
$1,450 Learn More
Neighbors Bank
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Eligibility.org
NMLS ID: 1907

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Featured - Virginia 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
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Third Federal Savings and Loan
Third Federal Savings and Loan
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6.240 %
$0 Learn More
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Note to Morton Community Bank
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Branches

Morton Community 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:
Ashburn,Virginia


Morton Community Bank Locations



Climate Initiatives

Morton Community Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

Morton Community Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Morton Community 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
Morton Community Bank U.S. Bank Average
13.96% 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, Morton Community Bank had $34,953,000 in non-current loans and $11,665,000 in owned real estate. To cover these potential losses it had $294,751,000 in equity and $39,127,000 in loans loss reserves. That gives it a Texas Ratio of 13.96%.

Return on Equity
Morton Community Bank U.S. Bank Average
19.83% 9.98%

Morton Community Bank has a Return on Equity of 19.83% 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.

Capitalization
Morton Community Bank U.S. Bank Average
5.88% 10.23%

Morton Community Bank has a Capitalization of 5.88% 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.

Morton Community Bank Balance Sheet Analysis

As of June 30, 2022, Morton Community Bank had assets of $5,016,084,000, loans of $2,648,700,000, and deposits of $4,410,364,000. 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
ASSETS
Cash & Balances due from depository institutions $ 195.48 million
Interest-bearing balances $ 149.87 million
Total securities $ 1,906.15 million
Federal funds sold and reverse repurchase $ 86.48 million
Net loans and leases $ 2.65 billion
Loan loss allowance $ 39.13 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 11.67 million
Goodwill and other intangibles $ 38.87 million
All other assets $ 84.37 million
     Total Assets $ 4.72 billion
LIABILITIES
Total deposits $ 4.41 billion
      Interest-bearing deposits $ 3.45 billion
      Deposits held in domestic offices $ 4.41 billion
      % insured (estimated) 72.31%
Federal funds purchased and repurchase agreements $ 0.10 million
Trading liabilities N.A.
Other borrowed funds $ 298.62 million
Subordinated debt N.A.
All other liabilities $ 12.25 million
      Total Liabilities $ 4.72 billion
      Shareholders’ Equity $ 294.75 million

Summary Income Statement

June 30, 2022
INCOME AND EXPENSES
Total Interest Income $ 70.99 million
Total Interest Expense $ 8.44 million
Net interest income $ 62.54 million
Provision for loan and lease losses N.A.
Total non interest income $ 8.60 million
Total non interest expense $ 33.19 million
Pre-tax Net Operating Income $ 37.96 million

Bank Loan Profile?

The top three loan types in Morton Community Bank’s loan portfolio are Commercial Real Estate, Multifamily Mortgages, and Commercial and Industrial Loans.

Compared to other banks in Illinois, Morton Community Bank 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 15.16
Multifamily
Mortgages
17.00
Credit Card Loans 0.11
Consumer Auto Loans 0.34
Small Business Loans 7.83
Construction and Development Loans 4.52
Commercial Real Estate 29.52
Commercial and Industrial Loans 16.74
Farm Loans 3.51

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