There are a total of 185 banks currently operating in the state of Illinois that are also insured by the federal deposit insurance corporation. Of this amount, 394 of these banks are headquartered in the state and therefore can be considered Illinois-based banks. Banks operating within the state had in total $631 billion of assets, $529 billion of deposits and $304 billion of loans outstanding as of this writing. Looking at the asset composition of banks in Illinois, residential mortgages made up 7% of the assets managed by these banks. In addition to this, these banks in total employ 67,009 people within the state. This represents 0.5% of the population.

Density of Banks in Illinois

There are a total of 3,912 bank branches located within the state of Illinois. This works out to a ratio of approximately 3.1 branches per 10,000 people in Illinois.  Comparing the banks in Illinois to banks operating in other states on this measure, Illinois ranks 17th out of 52 states and territories in terms of branches per capita.  Another way to view this is by looking at the physical accessibility. On this basis, banks in Illinois had on average 7.0 branches per 100 square miles. As a result, Illinois ranks 13rd out of 52 states and territories in terms of most branches per square mile.

Performance of Banks in Illinois

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  • Net Interest Margin – banks in this state are on average below the national average on this metric. In total the net interest margin for the banks in Illinois is ranked 48th out of the 52 states and main territories in the country.
  • Return on Assets – banks in the state of Illinois are on average lower the average bank’s Return on Assets in the United States. Overall, the Return on Assets for banks in Illinois is ranked 40th out of the 52 states and main territories in the United States.
  • Return on Equity – banks in the state of Illinois are on average generating a lower return on equity than the average bank in the United States. In total, the return on equity for banks in Illinois is ranked 37th out of the 52 states and main territories in the United States.
  • Loan to Deposit – Banks in this state are on average below the national average when it comes to loan to deposit. Loan to deposit ratio is a good way to assess the liquidity of a bank. Lower is better as it means that a bank is funding more of its lending activities with its deposit base. Banks in Illinois are ranked 41st out of the 52 states and main territories in the country when it comes to loan to deposits.
  • Nonperforming Assets – this metric gives us an idea of the quality of a bank’s assets and their performance. Banks in this state are on average better than the national average when it comes to nonperforming assets. We’re specifically looking at the level of nonperformance among the asset base. A higher figure indicates lower quality. Overall, banks in Illinois are ranked 22nd out of the 52 states and main territories in the country when it comes to the percentage of their assets that are nonperforming.

5 Largest Banks in the state of Illinois

deposit-market-share-of-banks-in-Illinois

Based on the latest available data, JPMorgan Chase Bank is the largest bank operating in Illinois based on its deposit share. JPMorgan Chase Bank currently has a 20% share of deposits within the state. Below is summary information on the top 5 largest banks in Illinois.

JPMorgan Chase Bank

JPMorgan Chase Bank currently has the largest share of deposits within the state and has $130.6 billion of deposits. In addition to this the bank also has 305 offices within the state, which represents 6% of its total domestic offices.

Main Office Address: 1111 Polaris Pkwy. Columbus, OH 43240

Website: www.jpmorganchase.com

Bmo Harris Bank 

Bmo Harris Bank  currently has the second largest share of deposits within the state and has $85.4 billion of deposits. The bank also has 193 offices within the state, which represents 35% of its total domestic offices.

Main Office Address: 111 W. Monroe St. Chicago, IL 60603

Website: http://www.bmoharris.com

Bank of America

Bank of America currently has the third largest share of deposits within the state and has $48.6 billion of deposits. The bank also has 139 offices within the state, which represents 3% of its total domestic offices.

Main Office Address: 100 N Tryon St Charlotte, NC 28202

Website: www.bankofamerica.com

The Northern Trust Company

The Northern Trust Company currently has the fourth largest share of deposits within the state and has $38.4 billion of deposits. Further, the bank also has 5 offices within the state, which represents 8% of its total domestic offices.

Main Office Address: 50 S. Lasalle St. Chicago, IL 60603

Website: www.northerntrust.com

Cibc Bank USA

Cibc Bank USA currently has the fifth largest share of deposits within the state and has $32.2 billion of deposits. In addition, the bank also has 21 offices within the state, which represents 78% of its total domestic offices.

Main Office Address: 120 S La Salle St Chicago, IL 60603

Website: us.cibc.com