CIBC Bank USA
Headquarters
120 S La Salle St
Chicago, IL 60603
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Phone 877-448-6500
2024 Overview
General Bank Information
CIBC Bank USA is an FDIC insured institution located in Chicago, IL. It was founded in 1991 and has approximately $54.85 billion in assets. Customers can open an account at one of its 29 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 33306 |
| Date Established | 1991 |
| Assets | $ 54.85 billion |
| Loans | $ 32.85 billion |
| Deposits | $ 43.88 billion |
| Capital | $ 9.18 billion |
For a more detailed analysis of CIBC Bank USA's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 16, 2024
Your Current Location: Ohio, OH 43085
Online Only Savings Rates of Canadian Imperial Bank USA
| Online Savings Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Agility Savings Account
|
5.01% | $1,000 | $500,000 |
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|
Online Only CD Rates of Canadian Imperial Bank USA
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 9 Month CD
|
5.11% | $25,000 | - |
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|
| 13 Month CD
|
5.36% | $25,000 | - |
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|
| 18 Month Online CD
|
4.47% | $25,000 | - |
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|
| 24 Month Online CD
|
4.45% | $25,000 | - |
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|
| 30 Month CD
|
4.25% | $25,000 | - |
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|
Bank Offers
CIBC Has 15-Month In-Branch CD Special
Jul 10, 2018
Canadian Imperial Bank of Commerce (CIBC) is offering a 15-month CD special at 2.68%. This rate is attractive compared to 18 month online CDs and depending on where you live you may not find a local 18-month CD rate this high. You'll need to get to a CIBC Bank branch to take advantage of this offer and unfortunately those are only in WI, IL and MI.
CIBC Bank USA Raises Online Savings Rate to 2.39% APY
Dec 21, 2018
CIBC Bank USA has raised its online savings rate to 2.39%. The account may be opened online with a $1,000 deposit and has a $0.01 minimum to maintain free of fees.
Bank Online Offers
CIBC Lowers Its Online Savings Rate to 1.35% APY
May 27, 2020
CIBC has lowered the online savings rate offered at its US subsidiary to 1.35% APY. With some analysts suggesting that a major Canadian bank could be in trouble as a result of the collapse in oil prices, it seems like an important time to maintain your deposits within FDIC limits with this bank.
CIBC Lowers Its Agility Savings Rate to 0.80% APY
Sep 1, 2020
CIBC has lowered its online savings rate from 0.90% APY to 0.80% APY.
CIBC Agility Savings is Lowered from 0.70% to 0.62% APY
Nov 2, 2020
CIBC Agility Savings is Lowered from 0.62% to 0.52% APY
Dec 10, 2020
CIBC, the Canadian bank that is trying to compete in the US online market, has dropped its online savings rate from 0.62% to 0.52%.
They have also dropped their 12-month CD rate to 0.50%.
CIBC US Discontinues 1-Year CD Product
Feb 22, 2024
CIBC US has discontinued offering its one-year CD product. They offered 5.51% APY and the product only had a 1-month early withdrawal penalty. It has been replaced with other products that are not as compelling.
Loan Rates - April 16, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for CIBC Bank USA
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 401822 |
6.806% |
6.625% 0.88 points $6,000 fees |
$2,049 | Learn More |
NMLS ID: 447490 |
6.825% |
6.750% 0.75 points $2,480 fees |
$2,076 | Learn More |
NMLS ID: 3029 |
7.020% |
6.875% 1.00 points $4,905 fees |
$2,103 | Learn More |
NMLS ID: 3030 |
7.451% |
7.375% 0.75 points $2,400 fees |
$2,211 | Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to CIBC Bank USA
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Branches
CIBC Bank USA 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:
Columbus,Ohio
Climate Policy and Initiatives
CIBC is a lender to carbon intensive industries but has implemented and continues to follow a plan to reduce the carbon intensity of its loan book. The bank has also launched a renewables and energy transition lending group.
Updated April 3, 2024
CIBC is aggressively reducing its oil and gas lending, but has further to go and should be disclosing more about its plans to lend to major renewable energy projects in Canada and the US.
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Financial Details
CIBC Bank USA Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of CIBC Bank USA. 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
| CIBC Bank USA | U.S. Bank Average |
|---|---|
| 3.31% | 3.96% |
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 December 31, 2024, CIBC Bank USA had $320,011,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $9,182,824,000 in equity and $485,954,000 in loans loss reserves. That gives it a Texas Ratio of 3.31%.
Return on Equity
| CIBC Bank USA | U.S. Bank Average |
|---|---|
| 9.71% | 12.20% |
CIBC Bank USA has a Return on Equity of 9.71% versus the BestCashCow average of 12.20%. 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
| CIBC Bank USA | U.S. Bank Average |
|---|---|
| 16.74% | 10.76% |
CIBC Bank USA has a Capitalization of 16.74% versus the BestCashCow average of 10.76. 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.
CIBC Bank USA Balance Sheet Analysis
As of December 31, 2023, CIBC Bank USA had assets of $54,847,358,000, loans of $32,849,383,000, and deposits of $43,884,606,000. 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
December 31, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 9.94 billion |
| Interest-bearing balances | $ 9.68 billion |
| Total securities | $ 7.92 billion |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 32.85 billion |
| Loan loss allowance | $ 485.95 million |
| Trading account assets | $ 1.61 million |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 2.84 billion |
| All other assets | $ 740.15 million |
| Total Assets | $ 45.66 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 43.88 billion |
| Interest-bearing deposits | $ 33.84 billion |
| Deposits held in domestic offices | $ 43.88 billion |
| % insured (estimated) | 33.96% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | $ 16.29 million |
| Other borrowed funds | $ 1,140.91 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 445.45 million |
| Total Liabilities | $ 45.66 billion |
| Shareholders’ Equity | $ 9.18 billion |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 3.11 billion |
| Total Interest Expense | $ 1,373.53 million |
| Net interest income | $ 1,732.56 million |
| Provision for loan and lease losses | $ 118.56 million |
| Total non interest income | $ 145.65 million |
| Total non interest expense | $ 639.36 million |
| Pre-tax Net Operating Income | $ 325.67 million |
Bank Loan Profile?
The top three loan types in CIBC Bank USA’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and 1-4 Family Residential Loans.
Compared to other banks in Illinois, CIBC Bank USA has a significantly higher percent of 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 | 6.01 | ✓ | ||
| Multifamily Mortgages |
5.56 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 0.26 | ✓ | ||
| Construction and Development Loans | 4.79 | ✓ | ||
| Commercial Real Estate | 24.06 | ✓ | ||
| Commercial and Industrial Loans | 33.56 | ✓ | ||
| Farm Loans | 0.04 | ✓ | ||
Customer Reviews for CIBC Bank USA
me
October 13, 2021
Good for savers. Easy to transfer funds in and out, not paying high transaction processing $ or being limited to low amounts per day. Does not subject applicants to very much ID interrogation and apparently does not make hard pulls against depositors. I am referring to many credit unions in that last sentence who make it so hard for anyone except the favored few near branches to get their advertised special offers.
Is this review helpful? Yes:0 / No: 0
krfjtk
July 9, 2021 |
Improved greatly over the experiences of earlier reviewers. Smooth approval. Everything is fine, helped in recovering sign-in protocols and in deposits/withdrawals. Not some hinky fintech that has to be worked only out of a buggy app, assuming approval which is often denied for unclear reasons.
Is this review helpful? Yes:0 / No: 0
Ari S
February 6, 2019 |
I opened an account in January. I found the opening process easy and am enjoying earning a savings rates for a $1 minimum that is higher than that offered by the other well-recognized online banks.
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Michael Guttman
December 23, 2018 |
The 2.39% rate was nice enough to get be to just open a CIBC account, but I closed it 5 minutes later. I was not able to bring money in from an external bank account (in my case, Chase). You have to wire it over or send them a check. I also learned you absolutely cannot withdraw anything for 90 days. There are better options out there.
Is this review helpful? Yes:1 / No: 0
Nothing but Frustration
July 13, 2018 |
nothing works. trying to call the number and get someone is futile.
Is this review helpful? Yes:1 / No: 0
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