State Farm Bank, NA

Headquarters

One State Farm Plaza E-6
Bloomington, IL 61710
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.65% →
1-Year CD N.A. 0.70% →
2-Year CD N.A. 0.75% →
5-Year CD N.A. 1.15% →
30-Year Mortgage 3.99% 2.72% →
15-Year Mortgage 3.35% 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

State Farm Bank, NA is an FDIC insured institution located in Bloomington, IL. It was founded in 1999 and has approximately $0.72 billion in assets.

FDIC Insured Yes
FDIC Certificate # 34617
Date Established 1999
Assets $ 717.33 million
Loans $ 283.83 million
Deposits $ 0.50 million
Capital $ 408.17 million
 

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

Deposit Rates - August 1, 2021

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Money Market
0.25% $0 $5,000 Learn More


Checking Rates APY MIN FEE
Checking Account 0.00% $0 $0.00 Learn MoreShow Less
Interest Checking Account 0.00% $500 $0.00 Learn MoreShow Less
 

Loan Rates - August 1, 2021

Your Current Location: Connecticut, CT 06828

Home Equity Rates APR Rate Monthly Payment
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

State Farm Bank, NA 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 Farm Bank, NA Locations


Financial Details

State Farm Bank, NA Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of State Farm Bank, NA. 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 Farm Bank, NA U.S. Bank Average
2.09% 5.29%

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, 2021, State Farm Bank, NA had $8,183,000 in non-current loans and $331,000 in owned real estate. To cover these potential losses it had $408,169,000 in equity and $0 in loans loss reserves. That gives it a Texas Ratio of 2.09%.

Return on Equity
State Farm Bank, NA U.S. Bank Average
0% 11.43%

State Farm Bank, NA has a Return on Equity of 0% versus the BestCashCow average of 11.43%. 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 Farm Bank, NA U.S. Bank Average
56.9% 11.51%

State Farm Bank, NA has a Capitalization of 56.9% versus the BestCashCow average of 11.51. 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 Farm Bank, NA Balance Sheet Analysis

As of December 31, 2020, State Farm Bank, NA had assets of $717,331,000, loans of $283,827,000, and deposits of $500,000. 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, 2021
ASSETS
Cash & Balances due from depository institutions $ 265.00 million
Interest-bearing balances $ 0.26 million
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 283.83 million
Loan loss allowance N.A.
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.33 million
Goodwill and other intangibles N.A.
All other assets $ 168.17 million
     Total Assets $ 309.16 million
LIABILITIES
Total deposits $ 0.50 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices $ 0.50 million
      % insured (estimated) 50.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 308.66 million
      Total Liabilities $ 309.16 million
      Shareholders’ Equity $ 408.17 million

Summary Income Statement

March 31, 2021
INCOME AND EXPENSES
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in State Farm Bank, NA’s loan portfolio are Commercial Real Estate, Small Business Loans, and Credit Card Loans.

Compared to other banks in Illinois, State Farm Bank, NA has a significantly higher percent of Credit Card Loans, Small Business Loans, Commercial Real Estate 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 0.00
Multifamily
Mortgages
0.01
Credit Card Loans 26.57
Consumer Auto Loans 0.00
Small Business Loans 54.21
Construction and Development Loans 0.00
Commercial Real Estate 58.29
Commercial and Industrial Loans 15.14
Farm Loans 0.00

Frequently Asked Questions About State Farm Bank, Na

Branches and Savings

Is State Farm Bank, Na FDIC insured?

Yes. It is covered under FDIC Certificate #34617.

Why does State Farm Bank, Na pay such low interest on savings accounts?

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

Why are State Farm Bank, Na CD rates not competitive?

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

Is State Farm Bank, Na a commercial bank?

Yes

Where are State Farm Bank, Na locations?

See branch locations nearby.

Is State Farm Bank, Na open on Saturdays?

Is State Farm Bank, Na open on Sundays?

What time does State Farm Bank, Na open?

What time does State Farm Bank, Na close?

Are State Farm Bank, Na ATMs Open 24/7?

Do State Farm Bank, Na ATMs accept cash deposits?

Can State Farm Bank, Na customers use other ATMs?

Do State Farm Bank, Na branches have notaries?

Will State Farm Bank, Na notarize my document?

What address for State Farm Bank, Na should I put for incoming ACH transfers?

Will the State Farm Bank, Na branch print checks?

Do State Farm Bank, Na checks expire?

Does State Farm Bank, Na require US citizenship to open account?

Can State Farm Bank, Na close my account?

Does State Farm Bank, Na Report to credit bureaus?

Does State Farm Bank, Na Use Equifax?

What is State Farm Bank, Na's ACH Routing Number?

What is State Farm Bank, Na's SWIFT code?

Products

Does State Farm Bank, Na offer mortgages?

Compare mortgage rates here.

Does State Farm Bank, Na offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does State Farm Bank, Na offer personal loans?

Compare personal loan rates here.

Does State Farm Bank, Na offer student loans?

Will State Farm Bank, Na cash a check?

Will State Farm Bank, Na redeem a savings bond?

Does State Farm Bank, Na cash savings bonds?

Will State Farm Bank, Na cash money orders?

Can State Farm Bank, Na issue a money order?

Does State Farm Bank, Na do currency exchange?

Background on The Bank

Who owns State Farm Bank, Na?

How long has State Farm Bank, Na been around?

Can State Farm Bank, Na transfer to other banks?

Does State Farm Bank, Na have quick pay?

Does State Farm Bank, Na accept rolled coins?

Will State Farm Bank, Na accept loose change?

Where is State Farm Bank, Na headquarters?

Customer Reviews for State Farm Bank, NA


  • May 8, 2019 |

    One of the worst experiences I have ever had. Do not use them for loans, their servicing department is lazy, unorganized and terrible to work with. Sent in check over 3 months ago to get PMI removed and they are still trying to figure it out. I would rather pay a higher interest rate than to have to deal with the yahoo's that work here.

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