Balboa Thrift and Loan Association is headquartered in CHULA VISTA and is the 90th largest bank in the state of California. It is also the 2,038th largest bank in the nation. It was established in 1980 and as of March of 2025, it had grown to 92 employees at 4 locations. Balboa Thrift and Loan Association's CD rates are 5X the national average, and it has an A health rating.
Account Opening Process Is Antiquated
I just spoke with a Balboa CSR and was told that in order to open a 5 year CD, I had to first become a customer and go to one of their 4 locations and sign paperwork. Their locations are over 100 miles from my home in the Los Angeles area so the 5 YR CD is not an option.
Also, I was told that the EWP for the 5 YR CD is only 90 days. Two weeks ago, I read in another DA post that it was much more egregious, but this is what I was told today.
To be honest, this bank is very small, and I doubt the quality of information I received today, specifically because another CSR told me two weeks ago that the EWP was all interest accrued with a minimum of 90 days interest. (I called 2 weeks ago about the EWP after I read the DA post about the egregious EWP.)
So, I suggest you proceed with caution with this small outfit.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 26704 |
| Year Established | 1980 |
| Employees | 92 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.49% |
| Return on Equity - YTD | -4.34% |
| Annual Interest Income | $8.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $416MM$418.7MM |
| Loans | Q1 2025vs Q1 2024 | $381MM$375.2MM |
| Deposits | Q1 2025vs Q1 2024 | $366.8MM$367.6MM |
| Equity Capital | Q1 2025vs Q1 2024 | $47MM$48.8MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $8.3MM$8.5MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $931K$1.2MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |