A recent report in Crain’s Chicago Business ranks Community Bank of Oak Park-River Forest as one of the top-20 banks in the Chicago area for return on assets.
Community Bank placed 16th out of 191 banks, in the top 8 percent. The rankings position the Oak Park-based bank as the top performer in Oak Park, River Forest and Forest Park. The list is based on banks’ return on average assets as of the end of 2008.
Community Bank posted a 1.02 percent return on average assets last year, and a 10.52 percent return on equity. In 2008, the bank had a net income of $3.3 million on assets of $345 million.
Meanwhile Oak Park’s other locally owned bank, Park National, is in a less rosy position. Its parent company, FBOP Corp., lost $99 million in the first half of this year. With that, the company is left with $18.6 million in assets, according to another report in Crain’s.
FBOP is “critically undercapitalized” and is currently being sued by JPMorgan Chase & Co. for repayment of $246 million in loans. The company is trying to raise $500 million to improve its position, but according to the report, FBOP may need closer to $1 billion.
