The American Chartered Bank is a full-service commercial and retail bank, serving privately owned small and medium-sized businesses and individual customers throughout the Chicagoland area. The bank is insured and regulated by the FDIC and has been locally owned and operated since 1987.

Background

American Chartered Bancorp is the holding company for American Chartered Bank, which serves primarily closely held small to midsized businesses and individuals in and around Chicago. Through its 10 branches, the bank offers commercial and consumer deposit products such as checking, savings, and money market accounts, and certificates of deposit, as well as loan products like residential mortgage and commercial real estate loans, and home equity and working capital lines of credit. American Chartered Bank is considered a Regional Bank & Thrift.

Bank Financial Information

The bank has grown strongly throughout its history. Average assets were up 36% during 2003, after gains of 20% in 2002 and 22% in 2001. The growth has been and will continue to be supported by an expanding branch network. Although the low interest rate environment put unusual pressure on earnings in 2003, the bank recorded record earnings, just as it has in every year.

Returns on assets have consistently been near 1% over the past several years. The earnings of the bank are driven by the net interest margin, supported by a large commercial loan portfolio and high levels of demand deposits. The bank is not overly reliant on fee income, but remains committed to supporting and adding products that serve the customer’s needs. The balance of the financial success is attributed to careful management of the bank’s cost structure.

Although asset growth has been impressive and earnings strong it has not been accomplished at the expense of safety and soundness. Past due and non-accrual loans, as a percentage of all loans, have been consistently maintained at levels lower than peer banks. Bank capital has been maintained in excess of levels specified by regulatory agencies in order for the bank to be considered well capitalized, the regulator’s highest rating. The safety of depositor’s accounts is, of course, further protected by FDIC insurance.

American Chartered Bank is owned by a holding company, American Chartered Bancorp, Inc. which in turn is owned by local shareholders, a large percentage of whom are bank employees and directors. Holders of Bancorp stock have experienced above average returns on equity, with returns that have averaged more than 15% over the past three years.

Branch Locations

932 W. Randolph St.
Chicago, IL 60607

388 S. Main Street
Bartlett, IL 60103

111 E. Rand Road
Mount Prospect, IL 60056

450 E. Higgins Road
Elk Grove Village, IL 60007

459 S. Rand Road
Lake Zurich, IL 60047

700 W. Euclid Avenue
Palatine, IL 60067

1199 E. Higgins Rd.
Schaumburg, IL 60173

4685 Winfield Road
Warrenville, IL 60555

3196 W. Route 60
Mundelein, IL 60060

External links

American Chartered Bank website

FDIC website

American Chartered Financial Calculator

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