Five area banks were upgraded and none was downgraded in the latest ratings from BauerFinancial based on data for the quarter that ended Dec. 31, 2013.
Two major banks — JP MorganChase and Regions Bank — were upgraded from 31/2 stars ("good") to 4 stars ("excellent"), as was First National Bank of Ogden. Chase has branches in Champaign and Urbana; Regions, in Champaign and Clinton; and the Ogden bank has them in Royal and St. Joseph.
CIBM Bank, which operates in Illinois as Central Illinois Bank, was upgraded from 3 stars ("adequate") to 31/2 stars ("good"). Its seven Illinois locations include two in Champaign and one each in Urbana, Danville, Monticello, Bloomington and Peoria.
MainSource Bank was upgraded from 4 stars ("excellent") to 5 stars ("superior"), BauerFinancial's top rating. The Greensburg, Ind.-based bank has area branches in Hoopeston and Watseka.
The other 71 banks in East Central Illinois retained the ratings they had at the close of the Sept. 30 quarter.
More than half of the area banks received BauerFinancial's highest rating of 5-star. No area banks received the lowest and second-lowest ratings — zero stars and 1 star.
Two banks retained a 2-star (“problematic”) rating. That included First National Bank of Sullivan, which held a 5-star rating at the close of the first quarter of 2013, was downgraded to 3-star in the second quarter and downgraded again to 2-star in the third quarter.
In a Dec. 31 call report filed with federal regulators, the Sullivan bank listed a net loss of $703,000 for 2013. During the year, it charged off $715,000 in commercial and industrial loans. As of Dec. 31, the Sullivan bank had total assets of $63.7 million.
Also receiving a 2-star rating was First Federal Savings & Loan of Central illinois, based in Shelbyville and with offices in Windsor and Charleston.
BauerFinancial bases its ratings on capital ratios, profitability trends, levels of delinquent loans, charge-offs and repossessed assets, liquidity, historical data and supervisory ratings by regulatory agencies. BauerFinancial is one of several bank-rating services. It distinguishes itself from others by making its ratings accessible to the public.
Area bank ratings for 4th quarter 2013
Here's the breakdown of BauerFinancial's ratings of 76 banks with offices in East Central Illinois based on data from the quarter tha ended Dec. 31.
— Arcola First Bank.
— Bank of Gibson City.
— Bank of Rantoul.
— Buckley State Bank.
— Busey Bank.
— Cissna Park State Bank.
— Community Bank of Hoopeston.
— DeWitt Savings Bank, Clinton.
— Farmers State Bank, Danforth.
— First Bank & Trust Savings Bank, Paris.
— First Farmers Bank & Trust, Converse, Ind.
— First Federal Savings & Loan of Mattoon.
— First Mid-Illinois Bank & Trust.
— First National Bank & Trust, Clinton.
— First National Bank in Georgetown.
— The First National Bank, Mattoon.
— First National Bank in Paxton.
— First National Bank of Chrisman.
— First National Bank of Nokomis.
— First Trust and Savings Bank, Watseka.
— Fisher National Bank.
— Flanagan State Bank.
— Gifford State Bank.
— Hardware State Bank, Lovington.
— Hickory Point Bank & Trust.
— Iroquois Farmers State Bank.
— Iroquois Federal Savings and Loan.
— MainSource Bank.
— Midland States Bank.
— Philo Exchange Bank.
— Prairie State Bank & Trust.
— Scott State Bank, Bethany.
— Sidell State Bank.
— Soy Capital Bank & Trust, Decatur.
— State Bank of Arthur.
— State Bank of Bement.
— State Bank of Cerro Gordo.
— State Bank of Lincoln.
— Tuscola National Bank.
— Vermilion Valley Bank, Piper City.
— Villa Grove State Bank.
— Woodforest National Bank.
— Commerce Bank.
— Edgar County Bank & Trust.
— Farmers-Merchants National Bank, Paxton
— Federated Bank, Onarga.
— First Federal Savings Bank of C-U.
— First Financial Bank of Terre Haute, Ind.
— First Midwest Bank.
— First National Bank of Catlin.
— First National Bank of Ogden.
— First Neighbor Bank, Toledo.
— First Savings Bank, Danville.
— First State Bank, Monticello.
— Heartland Bank & Trust, Bloomington.
— Illinois National Bank.
— JP MorganChase.
— Kenney Bank & Trust.
— Longview State Bank, Sidney.
— Old National Bank.
— Peoples Bank & Trust, Pana.
— Regions Bank.
— State Bank of Chrisman.
— State Farm Bank.
— Sumner National Bank, Sheldon.
— United Community Bank, Oakwood.
— U.S. Bank.
3 1/2-star ('good')
— CIBM Bank.
— Marine Bank, Springfield.
— Milford Building & Loan.
— PNC Bank.
— Citizens State Bank, Milford.
— Dewey Bank.
— First Federal Savings & Loan of Central Illinois, Shelbyville.
— First National Bank of Sullivan.