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727 Elden Street
Herndon, VA 20170

Airbanking is headquartered in Herndon and is the 59th largest bank in the state of Virginia. It is also the 2,153rd largest bank in the nation. It was established in 2004 and as of March of 2014, it had grown to 56 employees at 5 locations. Airbanking's savings rates are 8X the national average, and it has a A health rating.

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Reviews (1)

Starting Up With A Few Bumps

I decided to start some CD accounts with Airbanking because it had, and still maintains, some of the highest CD APY rates available. I found it a little bit disconcerting to figure out how to apply for new CD accounts, and didn't completely grasp some of the verbiage regarding fees for transferring funds between my external bank and Airbanking. I sent an email to Airbanking asking for information about how to apply for CDs, and clarification about fees. Airbanking personnel (Billy) responded quickly and professionally. I was impressed with the customer service aspects provided by Airbanking, and decided I was willing to accept some of the little process quirks associated with this new internet bank. Airbanking is small, just getting started, and has some start-up process issues it will eventually resolve. Airbanking has a relationship with Main Street Bank in Virginia, which has a very good banking health record. So, I trust depositing money with a relatively new start-up venture like Airbanking. If you want higher interest rates and are willing to put up with a little bit of inconvenience compared to major banking institutions that have been around for a long time, then give this bank a try. I think Airbanking will improve its internet processes, and be very easy to deal with in the future. In the meantime, my Airbanking CD accounts are getting better interest rates than many other financial institutions.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Airbanking had $2.16 million in non-current loans and owned real-estate with $28.41 million in equity and loan loss allowances on hand to cover it. This gives Airbanking a Texas Ratio of 7.61% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Airbanking experienced no significant changes from 8.20% as of March 31, 2013 to 7.61% as of March 31, 2014, resulting in a positive change of 7.25%.This indicates that the balance sheet and financial strength for Airbanking has had no significant changes in recent periods.

Deposit Growth


In the past year, Airbanking has increased its total deposits by $38.73 million, resulting in 16.18% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Airbanking has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Airbanking has $304.8 million in assets with $28.41 million in equity, resulting in a capitalization level of 9.32%, which is average.

Institution Statistics

FDIC Certificate #57742
Year Established2004
Primary RegulatorFED
Assets and Liabilities
Assets$304.81 million
Loans$238.32 million
Deposits$278.08 million
Equity Capital$25.53 million
Loan Loss Allowance$2.88 million
Unbacked Noncurrent Loans$1.93 million
Real Estate Owned$234,000
Historic Data - March 2013
Assets$269.58 million
Equity Capital$24.79 million
Loan Loss Allowance$2.39 million
Unbacked Noncurrent Loans$1.93 million
Real Estate Owned$234,000
Profit Margin - Quarterly
Return on Assets0.09%
Return on Equity1.07%
Interest Income$3.21 million
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Airbanking Savings Account Rates

4.00%-$1kjunior airsavings

Airbanking Checking Account Rates

0.25%$50k-big airchecking

Airbanking CD Rates

1.25%$500-5 Year CD
1.20%$500-4 Year CD
1.15%$500-3 Year CD
0.80%$500-2 Year CD
0.50%$500-1 Year CD
0.30%$500-1 Year No Penalty CD

Airbanking is an Internet only bank and does not have branch locations. Its headquarters is located at 727 Elden Street - Herndon, VA 20170