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Overview / Commentary
877-839-2737
2000 Mckinney Ave, # 700
Dallas, TX 75201

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.

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Health

Data for Q4 2013

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 BankDirect had $45.42 million in non-current loans and owned real-estate with $1.09 billion in equity and loan loss allowances on hand to cover it. This gives BankDirect a Texas Ratio of 4.18% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for BankDirect decreased dramatically from 8.26% as of December 31, 2012 to 4.18% as of December 31, 2013, resulting in a positive change of 49.37%.This indicates that the balance sheet and financial strength for BankDirect has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, BankDirect has increased its total deposits by $1.72 billion, resulting in 22.72% 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.

Capitalization

GRADE:
C+

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 $11.71 billion in assets with $1.09 billion in equity, resulting in a capitalization level of 9.28%, which is average.

Institution Statistics

Overall
FDIC Certificate #34383
Year Established1997
Employees1019
Primary RegulatorOCC
Assets and Liabilities
Assets$11.71 billion
Loans$11.18 billion
Deposits$9.30 billion
Equity Capital$998.27 million
Loan Loss Allowance$87.60 million
Unbacked Noncurrent Loans$40.31 million
Real Estate Owned$5.11 million
Historic Data - December 2012
Assets$10.53 billion
Equity Capital$822.65 million
Loan Loss Allowance$74.34 million
Unbacked Noncurrent Loans$40.31 million
Real Estate Owned$15.99 million
Profit Margin - Quarterly
Net Interest Margin4.05%
Return on Assets1.14%
Return on Equity13.3%
Interest Income$446.04 million
Rates

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.

BankDirect Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$100-Savings

BankDirect Money Market Rates

DetailsAPYMINMAXPRODUCT
0.15%$10k-Money Market
0.15%$10k-IRA Money Market Account
0.15%$10k-Roth IRA Money Market Account
0.05%--Mileage MMA

BankDirect Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%$10k-Checking
0.01%$2,500-Mileage Checking

BankDirect CD Rates

DetailsAPYMINMAXPRODUCT
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-90 Day CD
0.10%$10k-6 Month Mileage CD
0.10%$10k-12 Month Mileage CD
0.10%$10k-24 Month Mileage CD
0.10%$10k-90 Day Commercial CD

BankDirect IRA Rates

DetailsAPYMINMAXPRODUCT
0.25%$1k-12 Month IRA CD (Traditional,Roth)
0.25%$1k-18 Month IRA CD (Traditional,Roth)
0.25%$1k-24 Month IRA CD (Traditional,Roth)
0.25%$1k-30 Month IRA CD (Traditional,Roth)
0.25%$1k-36 Month IRA CD (Traditional,Roth)
0.25%$1k-48 Month IRA CD (Traditional,Roth)
0.25%$1k-60 Month IRA CD (Traditional,Roth)
Locations

BankDirect is an Internet only bank and does not have branch locations. Its headquarters is located at 2000 Mckinney Ave, # 700 - Dallas, TX 75201