Average User Rating:
1 star rating based on 1 review.

Coastway Community Bank

One Coastway Plaza
Cranston, RI 2910
401-455-3200
www.coastway.com

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Coastway Community Bank is headquartered in Cranston and is the 9^th largest bank in the state of Rhode Island. It is also the 1,968^th largest bank in the nation. It was established in 2009 and as of March of 2012, it had grown to 128 employees at 9 locations. Coastway Community Bank has a 4-star health rating.

Coastway Community Bank Routing Number: 211573229

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See Rates for: Checking | Savings | Money Market | CD | IRA

Coastway Community Bank Checking Account Rates

	Apy	Min	Max	Product
	0.13%	$2,500	-	NOW Checking Account

Coastway Community Bank Savings Account Rates

Apy	Min	Max	Product
1.00%	-	$1k	FirstWay Account
0.50%	$50k	-	Access High Yield Savings Account
0.25%	$100	-	Savings Account
0.25%	$100	-	Holiday Club Account
0.25%	$100	-	Vacation Club Account

Coastway Community Bank Money Market Rates

Apy	Min	Max	Product
0.25%	$2,500	-	Money Market Plus Account
0.25%	-	-	IRA Money Market Plus Account

Coastway Community Bank CD Rates

Apy	Min	Max	Product
1.75%	$1k	-	57 - 60 Month YourWay CD
1.25%	$1k	-	45 - 50 Month YourWay CD
1.25%	$1k	-	51 - 56 Month YourWay CD
1.00%	$1k	-	27 - 32 Month YourWay CD
1.00%	$1k	-	33 - 38 Month YourWay CD
1.00%	$1k	-	39 - 44 Month YourWay CD
0.75%	-	-	14 to 26 Month Education CD
0.75%	-	-	14 to 26 Month Goal Oriented CD
0.75%	$1k	-	14 - 20 Month YourWay CD
0.75%	$1k	-	21 - 26 Month YourWay CD
0.50%	$1k	-	9 - 13 Month YourWay CD
0.40%	$1k	-	5 - 8 Month YourWay CD

Coastway Community Bank IRA Rates

Apy	Min	Max	Product
2.00%	-	-	60 Month Variable Rate IRA CD
1.75%	$1k	-	57 - 60 Month YourWay IRA CD
1.25%	$1k	-	45 - 50 Month YourWay IRA CD
1.25%	$1k	-	51 - 56 Month YourWay IRA CD
1.00%	$1k	-	27 - 32 Month YourWay IRA CD
1.00%	$1k	-	33 - 38 Month YourWay IRA CD
1.00%	$1k	-	39 - 44 Month YourWay IRA CD
0.75%	$1k	-	14 - 20 Month YourWay IRA CD
0.75%	$1k	-	21 - 26 Month YourWay IRA CD
0.50%	$1k	-	9 - 13 Month YourWay IRA CD
0.40%	$1k	-	5 - 8 Month YourWay IRA CD

Rates updated: 5/24/2012

Data for Q1 2012

Institution Statistics

Coastway Community Bank
FDIC Certificate #	58937
BankRate Report	View
Year Established	2009
Employees	128
Primary Regulator	FDIC
Assets and Liabilities
Assets	$331.62 million
Loans	$281.66 million
Deposits	$298.24 million
Equity Capital	$26.18 million
Loan Loss Allowance	$1.24 million
Unbacked Noncurrent Loans	$4.46 million
Real Estate Owned	$1.76 million
Historic Data - March 2011
Assets	$300.43 million
Equity Capital	$25.67 million
Loan Loss Allowance	$1.17 million
Unbacked Noncurrent Loans	$5.23 million
Real Estate Owned	$966,000
Profit Margin - Quarterly
Net Interest Margin	3.7%
Return on Assets	0.08%
Return on Equity	1.01%
Interest Income	$3.34 million

Institution Health

Overall Score:

4 out of 5

Texas Ratio
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 March 31, 2012 Coastway Community Bank had $6.22 million in non-current loans and owned real-estate with $27.42 million in equity and loan loss allowances on hand to cover it. This gives Coastway Community Bank a Texas Ratio of 22.68% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Coastway Community Bank decreased slightly from 27.02% as of March 31, 2011 to 22.68% as of March 31, 2012, resulting in a positive change of 16.05%.This indicates that the balance sheet and financial strength for Coastway Community Bank has improved slightly in recent periods.
Deposit Growth
In the past year, Coastway Community Bank has increased its total deposits by $32.19 million, resulting in 12.1% 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 Coastway Community Bank has shown is excellent.
Capitalization
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. Coastway Community Bank has $331.62 million in assets with $27.42 million in equity, resulting in a capitalization level of 8.27%, which is average.

Bad Bank For Your Money
1 stars

- unhappycustomer - Monday, May 30, 2011 - 3:03 PM

Ive been with this bank for over 20 years and the service was good but they don't Protect your money for you. I talk to them several times about overdraft protection and I filled out their form and still to this day they let the people try to cash checks that I did not write. I put stops on these checks using coastways forms to try to catch up on my bills. But Coastway bank still bounces the check and charges me $35.00 for fee of not enough fund to cover bounce check that I put a stop on with their forms. And they keep on taking my money that's not there for themselfs and putting me more and more in debt every week. 2-3 times a week they take $35.00 from my account putting my account in the Red everytime And I get no help from coastway at all. All they do for me is put my life in miserable debt! Not a good bank to put your hard earned savings into! Beware of Coastway Bank! They are really bad for people trying to save money in this Bank. I'm going to bank when it opens and close all my accounts and take my business to Bank of America or citizens bank. After 20 years with them you would think they would try to help the problem I am having? No no no they just put my life and bills all in jeopardy because they want to get that $35.00 NSF payment! Not good! Thank god they are not a worldwide bank because nobody struggling with bills will make it in life Dealing with Coastway Bank. I give them a big 0 for ratings because they don't care about their customers well being. All they want is your Money to make money, if you have very little money, they Treat you like your a Nobody! Sorry but this is my experience with this bank after 20 years of them taking my hard earned money. Hopefully they will fall on their face and the government will see how they rob the customers and close them down.