Morton Community Bank

Headquarters

721 West Jackson Street
Morton, IL 61550
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 0.95% →
1-Year CD 0.17% 1.01% →
2-Year CD 0.31% 0.95% →
5-Year CD 0.84% 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Morton Community Bank is an FDIC insured institution located in Morton, IL. It was founded in 1961 and has approximately $4.02 billion in assets. Customers can open an account at one of its 41 branches.

FDIC Insured Yes
FDIC Certificate # 18429
Date Established 1961
Assets $ 4.02 billion
Loans $ 2.82 billion
Deposits $ 3.17 billion
Capital $ 437.62 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 - October 22, 2020

Your Current Location: Connecticut, CT 06828

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
0.05% $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
0.11% $100,000 $199,999 Learn More
6 Mo CD
0.08% $10,000 $14,999 Learn More
6 Mo CD
0.14% $100,000 $199,999 Learn More
Special: 9 Mo CD
0.41% $10,000 $99,999 Learn More
Special: 9 Mo CD
0.47% $100,000 - Learn More
12 Mo CD
0.11% $10,000 $14,999 Learn More
12 Mo CD
0.17% $100,000 $199,999 Learn More
24 Mo CD
0.25% $10,000 $14,999 Learn More
24 Mo CD
0.31% $100,000 $199,999 Learn More
36 Mo CD
0.38% $10,000 $14,999 Learn More
36 Mo CD
0.44% $100,000 $199,999 Learn More
Special: 39 Mo CD
0.51% $10,000 $99,999 Learn More
Special: 39 Mo CD
0.57% $100,000 - Learn More
48 Mo CD
0.42% $10,000 $14,999 Learn More
48 Mo CD
0.48% $100,000 $199,999 Learn More
60 Mo CD
0.78% $10,000 $14,999 Learn More
60 Mo CD
0.84% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less
Checking Rates APY MIN FEE
The Amazing Account 4.01% $0 $0.00 Learn MoreShow Less

Loan Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828

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 - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.569% 2.500% 0.88 $2,258 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More
First Internet Bank
NMLS ID: 424182
2.565% 2.500% 0.88 $2,142 $988 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info

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:
Fairfield,Connecticut


Morton Community Bank Locations


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
9.04% 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, Morton Community Bank had $21,680,000 in non-current loans and $20,388,000 in owned real estate. To cover these potential losses it had $437,615,000 in equity and $27,969,000 in loans loss reserves. That gives it a Texas Ratio of 9.04%.

Return on Equity
Morton Community Bank U.S. Bank Average
12.26% 7.80%

Morton Community Bank has a Return on Equity of 12.26% 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
Morton Community Bank U.S. Bank Average
10.89% 12.68%

Morton Community Bank has a Capitalization of 10.89% 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.

Morton Community Bank Balance Sheet Analysis

As of March 31, 2020, Morton Community Bank had assets of $4,017,911,000, loans of $2,816,534,000, and deposits of $3,170,929,000. 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 $ 88.79 million
Interest-bearing balances $ 54.10 million
Total securities $ 897.60 million
Federal funds sold and reverse repurchase $ 27.80 million
Net loans and leases $ 2.82 billion
Loan loss allowance $ 27.97 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 20.39 million
Goodwill and other intangibles $ 36.40 million
All other assets $ 85.38 million
     Total Assets $ 3.58 billion
LIABILITIES
Total deposits $ 3.17 billion
      Interest-bearing deposits $ 2.73 billion
      Deposits held in domestic offices $ 3.17 billion
      % insured (estimated) 82.09%
Federal funds purchased and repurchase agreements $ 7.97 million
Trading liabilities N.A.
Other borrowed funds $ 383.91 million
Subordinated debt N.A.
All other liabilities $ 17.49 million
      Total Liabilities $ 3.58 billion
      Shareholders’ Equity $ 437.62 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 38.87 million
Total Interest Expense $ 9.94 million
Net interest income $ 28.93 million
Provision for loan and lease losses $ 3.75 million
Total non interest income $ 3.05 million
Total non interest expense $ 14.80 million
Pre-tax Net Operating Income $ 13.43 million

Bank Loan Profile?

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

Compared to other banks in Illinois, Morton Community Bank has a significantly higher percent of Small Business 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 15.48
Multifamily
Mortgages
12.15
Credit Card Loans 0.10
Consumer Auto Loans 0.43
Small Business Loans 7.87
Construction and Development Loans 6.98
Commercial Real Estate 29.40
Commercial and Industrial Loans 16.67
Farm Loans 4.10

Frequently Asked Questions About Morton Community Bank

Branches and Savings

Is Morton Community Bank FDIC insured?

Yes. It is covered under FDIC Certificate #18429.

Why does Morton Community Bank pay such low interest on savings accounts?

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

Why are Morton Community Bank CD rates not competitive?

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

Is Morton Community Bank a commercial bank?

Yes

Where are Morton Community Bank locations?

See branch locations nearby.

Is Morton Community Bank open on Saturdays?

Is Morton Community Bank open on Sundays?

What time does Morton Community Bank open?

What time does Morton Community Bank close?

Are Morton Community Bank ATMs Open 24/7?

Do Morton Community Bank ATMs accept cash deposits?

Can Morton Community Bank customers use other ATMs?

Do Morton Community Bank branches have notaries?

Will Morton Community Bank notarize my document?

What address for Morton Community Bank should I put for incoming ACH transfers?

Will the Morton Community Bank branch print checks?

Do Morton Community Bank checks expire?

Does Morton Community Bank require US citizenship to open account?

Can Morton Community Bank close my account?

Does Morton Community Bank Report to credit bureaus?

Does Morton Community Bank Use Equifax?

What is Morton Community Bank's ACH Routing Number?

What is Morton Community Bank's SWIFT code?

Products

Does Morton Community Bank offer mortgages?

Compare mortgage rates here.

Does Morton Community Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Morton Community Bank offer personal loans?

Compare personal loan rates here.

Does Morton Community Bank offer student loans?

Will Morton Community Bank cash a check?

Will Morton Community Bank redeem a savings bond?

Does Morton Community Bank cash savings bonds?

Will Morton Community Bank cash money orders?

Can Morton Community Bank issue a money order?

Does Morton Community Bank do currency exchange?

Background on The Bank

Who owns Morton Community Bank?

How long has Morton Community Bank been around?

Can Morton Community Bank transfer to other banks?

Does Morton Community Bank have quick pay?

Does Morton Community Bank accept rolled coins?

Will Morton Community Bank accept loose change?

Where is Morton Community Bank headquarters?

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