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This institution is no longer active

Operations ceased on February 15, 2013. CRA examination history below reflects the period it was active.

COVENANT BANK

CHICAGO, IL · Supervised by FDIC

Est. 1977FDIC #22,476RSSD: FDIC-22476
Part ofCOVENANT BANCSHARES INC→ View all charters
Satisfactory Same

Current rating · Exam: March 2010

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At a Glance

Community Lending (CRA)

Satisfactory

Meets federal requirements for community lending

Financial Health

Needs Attention

ROA -2.47%

Institution Profile

FDIC BankFind

Address

1111 South Homan Avenue, CHICAGO, IL

County

Cook County

Established

June 20, 1977

Total Assets

$58M(latest call report)

Community Reinvestment Rating

CRA / FFIEC

Federal regulators examine banks to ensure they lend and invest in the communities they serve, especially low- and moderate-income areas.

Overall Rating

Satisfactory

Meets federal requirements for community lending

Exam Date

March 1, 2010

Exam Type

Small Bank

Regulator

FDIC
What is a CRA rating? →
⚠️This exam is 16 years old — CRA data may not reflect current lending practices. Regulators typically re-examine banks every 2–4 years.
Estimated next exam:Overdue(based on asset size)

Financial Snapshot

As of Q4 2012Call Report / FDIC

Total Assets

$58M

Total Deposits

$54M

Net Loans

$39M

Net Income

$-1,498K

ROA

-2.47%

ROE

-84.76%

Risk-Based Capital

3.48%

Regulatory minimum: 8%

Total Assets — Last 8 Quarters

Total AssetsROA

Peer Comparison

Small banks

Compared to the peer-bank Small peer group (same asset tier).

Mortgage Denial Rate1.96%Peer avg: 7.63%▲ Above avg

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Mortgage Lending

CFPB HMDA
YearApplicationsOrig. RateDenial Rate
20195180.39%1.96%
20183290.63%0.00%

2024 national avg denial rate: 23.75% · Small bank avg: 7.63% · above-average shown in red

Rating History

CRA / FFIEC

Rating Trend

↓ Declining

Based on last 3 exams

4 previous ratings locked — dating back to 1992

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Rating Over Time

🔒 Locked
OutstandingSatisfactoryNeeds to ImproveSubst. Noncompliance

Exam dates and details are paywalled

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