Lake Forest Bank & Trust Company started in 1986 and is headquartered in Lake Forest, Illinois. Lake Forest Bank & Trust Company handles $4 billion in assets and $3 billion in deposits, classifying it as a large bank. Lake Forest Bank & Trust Company lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. At a SmartAsset rating of 4.1 out of 5 stars, Lake Forest Bank & Trust Company should be solidly in contention for your choice of bank. Lake Forest Bank & Trust Company offers a full array of banking products, which include savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, the bank's standard checking does not carry a monthly fee. Locating a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same bank is the best bet for getting the most income from your deposits while maintaining convenient access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.15%, Lake Forest Bank & Trust Company ranks poorly in comparison to the national average. Lake Forest Bank & Trust Company's one-year and five-year term lengths CDs earn at a rate of 0.20% and 1.00%, respectively, while its highest-yielding money market account earns at an APY of 0.20%. Given Lake Forest Bank & Trust Company's poor savings rate, you should consider looking elsewhere to open savings accounts.
How Lake Forest Bank & Trust Company's Savings Rates Compare
Lake Forest Bank & Trust Company charges its customers extremely low fees in comparison to the average U.S. bank. Lake Forest Bank & Trust Company's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. Lake Forest Bank & Trust Company doesn't reimburse out-of-network ATM charges, meaning you'll need to find a Lake Forest Bank & Trust Company ATM or pay the fee.
Lake Forest Bank & Trust Company is a brick-and-mortar bank, with eight total bank locations in Illinois. With mobile and web apps, Lake Forest Bank & Trust Company makes mobile banking easy, even on the go. Lake Forest Bank & Trust Company's online and mobile banking services receive poor feedback from users. The Lake Forest Bank & Trust Company mobile app scored a 3.3 out of 5 (with 18 ratings on Apple and Android) compared to the national average of 3.8. Lake Forest Bank & Trust Company's mobile app allows you to control your accounts by checking monthly statements, sending and receiving money and reaching customer service. Lake Forest Bank & Trust Company gets an exceptional consumer satisfaction rating based on relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
Lake Forest Bank & Trust Company is currently a large bank owning assets totaling $4 billion and deposits totaling $3 billion. Its Texas Ratio is 4.03%, denoting that the bank is in outstanding financial well-being and far from failure. Additionally, Lake Forest Bank & Trust Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.
Texas Ratio Analysis
The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.Back to Overview
Compare Lake Forest Bank & Trust Company to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.15% APY||$1|
|Checking Account||0.05% APY||$1|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.2% APY||$10000|
Lake Forest Bank & Trust Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Lake Forest Bank & Trust Company does not have the best savings rate, which means you should consider taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Lake Forest Bank & Trust Company's CD rates are fair compared to other U.S. banks.Back to Overview
Find a Lake Forest Bank & Trust Company Near Me
Lake Forest Bank & Trust Company has eight physical branches in the U.S.Back to Overview