Covenant Bank
Chicago, IL · Owner: Covenant Bancshares Inc
$58.4M
total assets, December 31, 2012
$58.4M
total assets, December 31, 2012
Covenant Bank was a state nonmember bank in Chicago, IL, owned by Covenant Bancshares Inc. It failed on Feb 15, 2013, and Liberty Bank And Trust Company took over its deposits. At its last report it held $58.4 million in assets.
Updated Oct 11, 2026 · numbers as of December 31, 2012
This bank failed
- Failed on
- Feb 15, 2013
- Assets
- $58.4M
- Deposits
- $54.2M
- Estimated cost
- $19.6M
- Deposits went to
- Liberty Bank And Trust Company, New Orleans, LA
Total assets
$58.4M
-8.0% in a year · -2.4% in a quarter
Deposits
$54.2M
-4.1% in a year · -8.1% in a quarter
Loans
$40.6M
-9.4% in a year · -2.9% in a quarter
Profit so far
-$1.5M
Jan 1 to Dec 31, 2012
Capital ratio
1.37%
-3.06 pts in a year
Return on assets
-2.47%
-0.08 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 1111 South Homan Avenue, Chicago, IL, 60624
- County
- Cook
- Holding company
- Covenant Bancshares Inc
- Established
- Jun 20, 1977
- Failed
- Feb 15, 2013
- Employees
- 23
- Branches
- 1
- Id
- b22476
Quarter by quarter
March 31, 1984 to December 31, 2012
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Covenant Bank?
$58.4 million in total assets and $54.2 million in deposits as of December 31, 2012, with assets down 8.0% from a year before. Its loans were $40.6 million.
How many branches does Covenant Bank have?
1 branch in Illinois as of June 30, 2026.
Is Covenant Bank profitable?
No: it lost $1.50 million from January 1 to December 31, 2012. Its return on assets was -2.47% a year; about 1% is typical.
Who owns Covenant Bank?
Covenant Bank is owned by Covenant Bancshares Inc, its holding company.
When did Covenant Bank fail?
Feb 15, 2013. Liberty Bank And Trust Company of New Orleans, LA took over its deposits. The estimated cost of the failure was $19.6 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.