State Bank of Cherry

110 South Main Street
Cherry, IL 61317

Notable Rates APY Vs.Others
Savings 0.15% 2.20% →
1-Year CD 0.80% 2.20% →
2-Year CD 1.00% 2.20% →
5-Year CD 1.76% 2.60% →
30-Year Mortgage N.A. 3.31% →
15-Year Mortgage N.A. 2.77% →
HELOC N.A. 4.00% →

2020 Overview

General Bank Information

State Bank of Cherry is an FDIC insured institution located in Cherry, IL. It was founded in 1906 and has approximately $0.09 billion in assets.

FDIC Insured Yes
FDIC Certificate # 11686
Date Established 1906
Assets $0.09 billion
Loans $0.06 billion
Deposits $0.08 billion
Capital $0.01 billion
 

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

Deposit Rates - February 24, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.15% $1 - Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.30% $1,000 - Learn MoreShow Less
6 Mo CD
0.50% $1,000 - Learn MoreShow Less
12 Mo CD
0.80% $1,000 - Learn MoreShow Less
18 Mo CD
0.90% $1,000 - Learn MoreShow Less
24 Mo CD
1.00% $1,000 - Learn MoreShow Less
30 Mo CD
1.10% $1,000 - Learn MoreShow Less
36 Mo CD
1.36% $1,000 - Learn MoreShow Less
48 Mo CD
1.51% $1,000 - Learn MoreShow Less
60 Mo CD
1.76% $1,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.90% $1,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.50% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1 - Learn MoreShow Less

Loan Rates - February 24, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for State Bank of Cherry

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
3.163% 3.125% 0.50 $1,192 $1,071 Learn More
Rocket Mortgage
NMLS ID: 3030
4.668% 4.625% 0.00 $1,250 $1,286 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Eastern Bank
Eastern Bank
4.250 %
$25,000 Learn More
More Info
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
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People's United Bank, N.A.
People's United Bank, N.A.
5.000 %
$0 Learn More
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Third Federal Savings and Loans
Third Federal Savings and Loans
3.740 %
$0 Learn More
More Info

Note to State Bank of Cherry
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Branches

State Bank of Cherry 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


State Bank of Cherry Locations


Financial Details

State Bank of Cherry Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of State Bank of Cherry. 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
State Bank of Cherry U.S. Bank Average
3.29% 6.70%

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 September 30, 2019, State Bank of Cherry had $447,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $12,850,000 in equity and $729,000 in loans loss reserves. That gives it a Texas Ratio of 3.29%.

Return on Equity
State Bank of Cherry U.S. Bank Average
10.67% 9.72%

State Bank of Cherry has a Return on Equity of 10.67% versus the BestCashCow average of 9.72%. 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
State Bank of Cherry U.S. Bank Average
14.17% 12.89%

State Bank of Cherry has a Capitalization of 14.17% versus the BestCashCow average of 12.89. 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.

State Bank of Cherry Balance Sheet Analysis

As of September 30, 2019, State Bank of Cherry had assets of $90,673,000, loans of $60,713,000, and deposits of $77,638,000. 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

September 30, 2019
ASSETS
Cash & Balances due from depository institutions $0.01 billion
Interest-bearing balances $0.01 billion
Total securities $0.02 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.06 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.00 billion
     Total Assets $0.08 billion
LIABILITIES
Total deposits $0.08 billion
      Interest-bearing deposits $0.06 billion
      Deposits held in domestic offices $0.08 billion
      % insured (estimated) 89.27%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.00 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.08 billion
      Shareholders’ Equity $0.01 billion

Summary Income Statement

September 30, 2019
INCOME AND EXPENSES
Total Interest Income $0.00 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

The top three loan types in State Bank of Cherry’s loan portfolio are Farm Loans, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks in Illinois, State Bank of Cherry has a significantly higher percent of Farm 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 21.51
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 3.27
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 3.39
Commercial and Industrial Loans 10.20
Farm Loans 23.75

Frequently Asked Questions About State Bank Of Cherry

Branches and Savings

Is State Bank Of Cherry FDIC insured?

Yes. It is covered under FDIC Certificate #11686.

Why does State Bank Of Cherry pay such low interest on savings accounts?

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

Why are State Bank Of Cherry CD rates not competitive?

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

Is State Bank Of Cherry a commercial bank?

Yes

Where are State Bank Of Cherry locations?

See branch locations nearby.

Is State Bank Of Cherry open on Saturdays?

Is State Bank Of Cherry open on Sundays?

What time does State Bank Of Cherry open?

What time does State Bank Of Cherry close?

Are State Bank Of Cherry ATMs Open 24/7?

Do State Bank Of Cherry ATMs accept cash deposits?

Can State Bank Of Cherry customers use other ATMs?

Do State Bank Of Cherry branches have notaries?

Will State Bank Of Cherry notarize my document?

What address for State Bank Of Cherry should I put for incoming ACH transfers?

Will the State Bank Of Cherry branch print checks?

Do State Bank Of Cherry checks expire?

Does State Bank Of Cherry require US citizenship to open account?

Can State Bank Of Cherry close my account?

Does State Bank Of Cherry Report to credit bureaus?

Does State Bank Of Cherry Use Equifax?

What is State Bank Of Cherry's ACH Routing Number?

What is State Bank Of Cherry's SWIFT code?

Products

Does State Bank Of Cherry offer mortgages?

Compare mortgage rates here.

Does State Bank Of Cherry offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does State Bank Of Cherry offer personal loans?

Compare personal loan rates here.

Does State Bank Of Cherry offer student loans?

Will State Bank Of Cherry cash a check?

Will State Bank Of Cherry redeem a savings bond?

Does State Bank Of Cherry cash savings bonds?

Will State Bank Of Cherry cash money orders?

Can State Bank Of Cherry issue a money order?

Does State Bank Of Cherry do currency exchange?

Background on The Bank

Who owns State Bank Of Cherry?

How long has State Bank Of Cherry been around?

Can State Bank Of Cherry transfer to other banks?

Does State Bank Of Cherry have quick pay?

Does State Bank Of Cherry accept rolled coins?

Will State Bank Of Cherry accept loose change?

Where is State Bank Of Cherry headquarters?

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