BankDirect, a fast growing Internet-only bank that provides convenient, competitive banking products and services to customers nationwide, went live on the Internet on May 17, 1999 at www.bankdirect.com. BankDirect provides competitive interest checking, savings, and money market accounts as well as certificates of deposit and free bill pay service to customers on the web. BankDirect offers financial control to customers who benefit from the convenience of banking anytime, anywhere. Through a "no-branch" model, BankDirect offers competitive rates and more convenient banking than traditional banks.
BankDirect assisted me with a finance loan for my insurance premium. Starting a small business with a large insurance premium can be tough, especially when you have to pay the premium in full before binding coverage. BankDirect was able to help me finance the premium and break it out into nine monthly payments. They paid the insurance broker in full and all I had to do was make my monthly premium payment. It greatly reduced the start up cost. The fees and interest were reasonable and I would definitely do business with them again if I needed assistance with my annual premium.
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 BankDirect had $51.53 million in non-current loans and owned real-estate with $1.12 billion in equity and loan loss allowances on hand to cover it. This gives BankDirect a Texas Ratio of 4.61% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for BankDirect decreased dramatically from 6.97% as of March 31, 2013 to 4.61% as of March 31, 2014, resulting in a positive change of 33.84%.This indicates that the balance sheet and financial strength for BankDirect has improved dramatically in recent periods.
In the past year, BankDirect has increased its total deposits by $1.96 billion, resulting in 24.78% 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 BankDirect 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. BankDirect has $12.14 billion in assets with $1.12 billion in equity, resulting in a capitalization level of 9.21%, which is average.
|FDIC Certificate #||34383|
|Assets and Liabilities|
|Equity Capital||$1.03 billion|
|Loan Loss Allowance||$90.23 million|
|Unbacked Noncurrent Loans||$49.11 million|
|Real Estate Owned||$2.42 million|
|Historic Data - March 2013|
|Equity Capital||$907.60 million|
|Loan Loss Allowance||$75.00 million|
|Unbacked Noncurrent Loans||$49.11 million|
|Real Estate Owned||$14.43 million|
|Profit Margin - Quarterly|
|Return on Assets||0.93%|
|Return on Equity||10.95%|
|Interest Income||$116.95 million|
Always verify rates and promotions with the bank or credit union. We are not BankDirect, we are a rate comparison website and can not provide official rates or promotions.
|0.15%||$10k||-||IRA Money Market Account|
|0.15%||$10k||-||Roth IRA Money Market Account|
|0.40%||$10k||-||90 Day CD|
|0.40%||$10k||-||90 Day Commercial CD|
|0.25%||$10k||-||12 Month CD|
|0.25%||$10k||-||18 Month CD|
|0.25%||$10k||-||24 Month CD|
|0.25%||$10k||-||30 Month CD|
|0.25%||$10k||-||36 Month CD|
|0.25%||$10k||-||48 Month CD|
|0.25%||$10k||-||60 Month CD|
|0.25%||$10k||-||12 Month Commercial CD|
|0.25%||$10k||-||18 Month Commercial CD|
|0.25%||$10k||-||24 Month Commercial CD|
|0.25%||$10k||-||30 Month Commercial CD|
|0.25%||$10k||-||36 Month Commercial CD|
|0.25%||$10k||-||48 Month Commercial CD|
|0.25%||$10k||-||60 Month Commercial CD|
|0.20%||$10k||-||6 Month CD|
|0.20%||$10k||-||6 Month Commercial CD|
|0.10%||$10k||-||6 Month Mileage CD|
|0.10%||$10k||-||12 Month Mileage CD|
|0.10%||$10k||-||24 Month Mileage CD|
|0.25%||$1k||-||12 Month IRA CD|
|0.25%||$1k||-||18 Month IRA CD|
|0.25%||$1k||-||24 Month IRA CD|
|0.25%||$1k||-||30 Month IRA CD|
|0.25%||$1k||-||36 Month IRA CD|
|0.25%||$1k||-||48 Month IRA CD|
|0.25%||$1k||-||60 Month IRA CD|
BankDirect is an Internet only bank and does not have branch locations. Its headquarters is located at 2000 Mckinney Ave, # 700 - Dallas, TX 75201