Northwest Bank of Rockford

Headquarters

3106 North Rockton Avenue
Rockford, IL 61101
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 1.05% →
1-Year CD 0.25% 0.95% →
2-Year CD 0.40% 1.05% →
5-Year CD N.A. 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

Northwest Bank of Rockford is an FDIC insured institution located in Rockford, IL. It was founded in 1972 and has approximately $0.3 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 20666
Date Established 1972
Assets $ 296.46 million
Loans $ 210.92 million
Deposits $ 256.33 million
Capital $ 27.35 million
 

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

Deposit Rates - September 18, 2020

Your Current Location: Washington, WA 98109

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.15% $2,500 $2,999 Learn More
Money Market
0.25% $10,000 $14,999 Learn More
Money Market
0.75% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $10,000 $14,999 Learn More
3 Mo CD
0.15% $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
0.20% $10,000 $14,999 Learn More
12 Mo CD
0.25% $100,000 $199,999 Learn More
18 Mo CD
0.25% $10,000 $14,999 Learn More
18 Mo CD
0.30% $100,000 $199,999 Learn More
24 Mo CD
0.35% $10,000 $14,999 Learn More
24 Mo CD
0.40% $100,000 $199,999 Learn More
30 Mo CD
0.35% $10,000 $14,999 Learn More
30 Mo CD
0.40% $100,000 $199,999 Learn More
36 Mo CD
0.55% $10,000 $14,999 Learn More
36 Mo CD
0.60% $100,000 $199,999 Learn More
48 Mo CD
0.60% $10,000 $14,999 Learn More
48 Mo CD
0.65% $100,000 $199,999 Learn More


Loan Rates - September 18, 2020

Your Current Location: Washington, WA 98109

There are currently no loan rates available for Northwest Bank of Rockford

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Washington 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
License#: 520-CL-25944
2.815% 2.750% 0.88 $2,120 $1,021 Learn More

Featured - Washington Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
3.500 %
$25,000 Learn More
More Info

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

Branches

Northwest Bank of Rockford 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:
Seattle,Washington


Northwest Bank of Rockford Locations


Financial Details

Northwest Bank of Rockford Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Northwest Bank of Rockford. 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
Northwest Bank of Rockford U.S. Bank Average
5.22% 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, Northwest Bank of Rockford had $1,561,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $27,354,000 in equity and $2,561,000 in loans loss reserves. That gives it a Texas Ratio of 5.22%.

Return on Equity
Northwest Bank of Rockford U.S. Bank Average
6.25% 7.80%

Northwest Bank of Rockford has a Return on Equity of 6.25% 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
Northwest Bank of Rockford U.S. Bank Average
9.23% 12.68%

Northwest Bank of Rockford has a Capitalization of 9.23% 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.

Northwest Bank of Rockford Balance Sheet Analysis

As of March 31, 2020, Northwest Bank of Rockford had assets of $296,464,000, loans of $210,916,000, and deposits of $256,333,000. 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 $ 13.86 million
Interest-bearing balances $ 6.44 million
Total securities $ 50.75 million
Federal funds sold and reverse repurchase $ 3.84 million
Net loans and leases $ 210.92 million
Loan loss allowance $ 2.56 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.95 million
All other assets $ 8.55 million
     Total Assets $ 269.11 million
LIABILITIES
Total deposits $ 256.33 million
      Interest-bearing deposits $ 200.74 million
      Deposits held in domestic offices $ 256.33 million
      % insured (estimated) 87.44%
Federal funds purchased and repurchase agreements $ 0.86 million
Trading liabilities N.A.
Other borrowed funds $ 10.24 million
Subordinated debt N.A.
All other liabilities $ 1.67 million
      Total Liabilities $ 269.11 million
      Shareholders’ Equity $ 27.35 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 3.11 million
Total Interest Expense $ 0.75 million
Net interest income $ 2.36 million
Provision for loan and lease losses $ 0.10 million
Total non interest income $ 0.86 million
Total non interest expense $ 2.58 million
Pre-tax Net Operating Income $ 0.54 million

Bank Loan Profile?

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

Compared to other banks in Illinois, Northwest Bank of Rockford has a significantly higher percent of Small Business Loans, Commercial Real Estate, 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 20.02
Multifamily
Mortgages
2.48
Credit Card Loans 0.00
Consumer Auto Loans 4.24
Small Business Loans 13.23
Construction and Development Loans 4.88
Commercial Real Estate 36.51
Commercial and Industrial Loans 27.22
Farm Loans 0.00

Frequently Asked Questions About Northwest Bank Of Rockford

Branches and Savings

Is Northwest Bank Of Rockford FDIC insured?

Yes. It is covered under FDIC Certificate #20666.

Why does Northwest Bank Of Rockford pay such low interest on savings accounts?

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

Why are Northwest Bank Of Rockford CD rates not competitive?

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

Is Northwest Bank Of Rockford a commercial bank?

Yes

Where are Northwest Bank Of Rockford locations?

See branch locations nearby.

Is Northwest Bank Of Rockford open on Saturdays?

Is Northwest Bank Of Rockford open on Sundays?

What time does Northwest Bank Of Rockford open?

What time does Northwest Bank Of Rockford close?

Are Northwest Bank Of Rockford ATMs Open 24/7?

Do Northwest Bank Of Rockford ATMs accept cash deposits?

Can Northwest Bank Of Rockford customers use other ATMs?

Do Northwest Bank Of Rockford branches have notaries?

Will Northwest Bank Of Rockford notarize my document?

What address for Northwest Bank Of Rockford should I put for incoming ACH transfers?

Will the Northwest Bank Of Rockford branch print checks?

Do Northwest Bank Of Rockford checks expire?

Does Northwest Bank Of Rockford require US citizenship to open account?

Can Northwest Bank Of Rockford close my account?

Does Northwest Bank Of Rockford Report to credit bureaus?

Does Northwest Bank Of Rockford Use Equifax?

What is Northwest Bank Of Rockford's ACH Routing Number?

What is Northwest Bank Of Rockford's SWIFT code?

Products

Does Northwest Bank Of Rockford offer mortgages?

Compare mortgage rates here.

Does Northwest Bank Of Rockford offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Northwest Bank Of Rockford offer personal loans?

Compare personal loan rates here.

Does Northwest Bank Of Rockford offer student loans?

Will Northwest Bank Of Rockford cash a check?

Will Northwest Bank Of Rockford redeem a savings bond?

Does Northwest Bank Of Rockford cash savings bonds?

Will Northwest Bank Of Rockford cash money orders?

Can Northwest Bank Of Rockford issue a money order?

Does Northwest Bank Of Rockford do currency exchange?

Background on The Bank

Who owns Northwest Bank Of Rockford?

How long has Northwest Bank Of Rockford been around?

Can Northwest Bank Of Rockford transfer to other banks?

Does Northwest Bank Of Rockford have quick pay?

Does Northwest Bank Of Rockford accept rolled coins?

Will Northwest Bank Of Rockford accept loose change?

Where is Northwest Bank Of Rockford headquarters?

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