# COVENANT BANK
CHICAGO, IL · FDIC certificate 22476 · asset band <$300M · latest filing 2012-12 · FAILED

**Verdict on the desk:** this could be *credit-stressed*. Composite score 9 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $58.4M | |
| Deposits | $54.2M | |
| Loans and leases | $40.6M | |
| Total equity | $917,000 | |
| Loans / deposits | 71.95% (p58 of band) | 68.02% |
| Liquid assets / assets | 25.34% (p27 of band) | |
| Uninsured deposits / deposits | 0.01% (p1 of band) | 8.86% |
| Brokered deposits | 9.31% | |
| Wholesale funding | 14.45% (p92 of band) | |
| FHLB advances / assets | 5.14% | |
| Tier 1 leverage | 1.37% (p0 of band) | 10.05% |
| Unrealized securities loss / equity | -6.65% (p0 of band) | 3.01% |
| AOCI / equity | -6.22% (p1 of band) | |
| ROA (annualized) | -2.47% (p2 of band) | 0.76% |
| Net interest margin | 3.94% (p61 of band) | 3.75% |
| Efficiency ratio | 148.51% (p98 of band) | |
| Noncurrent loans | 19.13% (p100 of band) | 1.21% |
| Net charge-offs (annualized) | 0.73% (p90 of band) | |
| Reserve coverage of noncurrent | 20.74% | |
| Real estate % of loans | 97% | |
| Construction % of loans | 8.51% (p37 of band) | |
| Auto loans | $91,000 (0.22% of loans; DQ 23.08%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p48 of band) | |
| Deposits YoY | -4.1% | |
| Employees | 23 | |

## Flags firing in the latest filing

- **leverage <7%** (`cap_low`)
- **leverage <5%** (`cap_critical`)
- **losing money** (`earn_negative`)
- **expense ratio p90** (`earn_efficiency`)
- **noncurrent p90** (`aq_noncurrent`)
- **reserve under noncurrent** (`aq_reserve`)
- **assets shrinking** (`shrink_assets`)
- **uninsured deposits leaving** (`flight_uninsured`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 8 | brokered >10%, wholesale funding >15%, leverage <7%, losing money, expense ratio p90, noncurrent p90, charge-offs p90, reserve under noncurrent |  |
| 2011-06 | 8 |  |  |
| 2011-09 | 8 |  |  |
| 2011-12 | 11 | leverage <5%, capital falling |  |
| 2012-03 | 12 | deposits shrinking, assets shrinking | wholesale funding >15% |
| 2012-06 | 12 | uninsured deposits leaving | deposits shrinking |
| 2012-09 | 13 | wholesale funding >15% |  |
| 2012-12 | 9 |  | brokered >10%, charge-offs p90, capital falling, wholesale funding >15% |

## In the news (Google News, unfiltered, newest first; check the city)

- 2013-04-09 [Covenant Bank’s path to failure - Forest Park Review](https://news.google.com/rss/articles/CBMigAFBVV95cUxNcjNfbzFrUl82MURQM19Vb05PN05CSUlnY21vZzRvU3A1NnBYaFNhdFVqRjlSdFVRS295QkJUaXVsNWlnUFZFOU1xbk5vQkQyZkQ3VEo5Q1NkSW1YYUQ1VWw2NzJMc3dOWmtsajdmVDlQSlMwOFJYNF9iTzQ5SUEtYQ?oc=5) · Forest Park Review
- 2013-02-18 [Lawndale’s Covenant Bank shut down by feds - Austin Weekly News](https://news.google.com/rss/articles/CBMijwFBVV95cUxOcHNUeUsyLWYyc0NxN29QeGczMk9ZQ21Bb3BPTGNRMXd3ekNpcDR1RW9WbDJncEw2ckVNSUV0ZDFuNnhzSVAzTTJKQTh6dGRTWENjNGNXWC15cnhtVVBlTGJaMlNMWkFNazdBdk5uWUthekJrWS1pX0cxQjJBV0g0NTdIYlliclJFcjAzOHFXTQ?oc=5) · Austin Weekly News
- 2013-02-18 [Covenant Bank shut down by FDIC - Wednesday Journal of Oak Park and River Forest](https://news.google.com/rss/articles/CBMidkFVX3lxTE9DZHF4aXVjRC1HSjJXRWtVYzV0bkFTczJLQ191a1p6N1RqdlZ2OUpfVlZTV3AzX3VkbUlmZFotMFRqUVY1a2F1ZWs5Q09aT01RQUtBd0JoMGZWS0QzYlZZOU9Pd0RuLVlsYy1Odlk5eVRBN0JLaEE?oc=5) · Wednesday Journal of Oak Park and River Forest
- 2026-02-18 [List Of Failed Banks: 2009-2026 - Bankrate](https://news.google.com/rss/articles/CBMiZEFVX3lxTFAtbi1TaWMteGEyOHdQbnlXd0tPRzM2WFJQZjdPdzViQTZFLVVHODJRTEdqRWhnMkxIOG5xMUVSWU5iNHZSbVpnQ2Z4TWdiMDVwN2NTdUNGd3dXZ2tGcGZ2VWVJRnM?oc=5) · Bankrate
- 2022-07-28 [Chicago’s Largest Black Owned Bank has Closed - shoppeblack.us](https://news.google.com/rss/articles/CBMiX0FVX3lxTE5VQy1RejhHbkpONEtqLUVLTkxjTkxUdERKazdtOVdodEtBNjFuTHpYbmNKLXZLVTk4ek84MHpzWDU3Vkg3SHhzTk1ycjJOeTI0OWFvbE1HZHN0YUFCZGVZ?oc=5) · shoppeblack.us
- 2013-04-30 [Lawndale bank’s failure a blemish on former owner’s stellar record - Austin Weekly News](https://news.google.com/rss/articles/CBMirgFBVV95cUxPT250bDhMalF1LXFya0EwdjJlOU9jcUs5SV9SclY1eVppYTVrbTdnSVkwb2o3aG5lSm4tVm8tQ3BwSUVONzdvU2VJSmhwYVRYOHRXX1NKWHRTaWNONC1GdmxIOFFjdm5uNmwtb2pGM2FIMW54c0JVUnlEdV8zVW5xZVY3QW9IYnRxNkJvQVB4Wmpqa3VHN1JScDN0ZnFSOWxsT3l3X0QzQU5KcENDcGc?oc=5) · Austin Weekly News
- 2013-04-16 [Forest Park Mall success led to Covenant Bank - Forest Park Review](https://news.google.com/rss/articles/CBMilAFBVV95cUxQQUVGX3BHN2pGNFFVZTduZWRVMHpHVTVNaGZxMEttdHJOcHNJNE1WTmhfcU1LNk10MGpDTTVRNmhaaWgyWWVHLXJPMWZRTFQ5WTdmc0Y2Y2EzZkVpVEk5NzBsOU5GZ0FyLWpwMEk2azJCWC1EaHhVU0pTNDNfZUNCY1BzRlRWdlJ3Umo3NU9CSTRIUDZ3?oc=5) · Forest Park Review
- 2021-04-13 [Tanzania Central Bank takes over 'Bank M' over liquidity - thecitizen.co.tz](https://news.google.com/rss/articles/CBMitAFBVV95cUxNb1gtNUJxajRXR0pSMHV3ZkJVemtVZzJmRWtYaVRNNTEydFNUdXMzUXg3ZnhoXzZHLTRZVEVHMjJtN1JibnpvT19NYUVmMTNkcUpfdGZEVUFRb09EZmhUcUlfcFFZZ1c1Zzl6U2ItQXlXU1VUenpZUFJad1pGRlBEMnJyeU1rQmhYRzlYUy1vQ1lLYVpGaUQyMTBjV0MxRHIzMEswaTJwbGNDME5oZ2VwLVhCVlA?oc=5) · thecitizen.co.tz

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=22476 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/12.json (key "22476", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide