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Byline Bank is the top Illinois community bank, with assets of $9.48BN.
US Community Banks
In Q4 2024 combined US community bank total assets were $3.51TN across 3,982 financial institutions. The Federal Reserve defines community banks as those with less than $10 billion in assets.
Illinois ranks second to Texas, which has 322 banks and $295BN (8.4%) in assets, and above California in third which has 107 community banks and $188BN (5.4%) in assets.
A total of 313 Illinois-based community banks held $224.8BN in total assets. This represents 8.1% of all community banks holding 6.4% of total assets. Illinois community bank assets grew by 3.9% in Q4 2024, adding $8.5BN, and by 0.28% over Q4 2023.
Top Illinois Community Bank by Assets
Byline Bank is the top Illinois community bank, with assets of $9.48BN, up 6.85% Year-on-Year (YoY) from $8.87BN in December 2023, and 0.74% Qtr-on-Qtr (QoQ) from $9.41BN in September 2024. The top 10 community banks are shown below.
Top Community Bank by 1st Mortgage Portfolio
First Collinsville Bank is the largest holder of single family residential 1st mortgages (closed end) on the balance sheet at $785MM, up 6.97% YoY from $734MM in December 2023, and down slightly 1.13% QoQ from $794MM in September 2024.
Top Illinois Community Banks in Q4 2024
The Top Illinois Community Banks in Q4 2024, in an easy-to-use format for easy analysis. Includes all community banks with assets less than $10BN as reported in Q4 2024 – more than 300 institutions – showing lender name, website, and ranking by total assets, and 1st mortgages, 2nd mortgages and HELOCs held for investment in Q4 2024, and compared to the prior Q3 2024 quarter and same period Q4 2023 a year ago.
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Top Bank by 2nd Mortgage Portfolio
First American Bank is the largest holder of single family residential 2nd mortgages on the balance sheet at $41.4MM, up 9.52% YoY from $37.8MM in December 2023, and 4.98% QoQ from $39.4MM in September 2024.
Top Bank by HELOC Portfolio
First American Bank is the largest holder of single family residential home equity lines of credit (HELOCs) on the balance sheet at $388MM, up 11.82% YoY from $305MM in December 2023, and 1.70% QoQ from $370MM in September 2024.
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Resources & References
Sources for the Top Illinois Community Bank include Recursion, MtgeFi, FFIEC and SEC.
Illinois Bankers Association
Community & Regional Financial Institutions