Coastway Community Bank is headquartered in Cranston and is the 6th largest bank in the state of Rhode Island. It is also the 1,722nd largest bank in the nation. It was established in 2009 and as of September of 2013, it had grown to 144 employees at 11 locations. Coastway Community Bank's savings rates are 25% higher than the national average, and it has a C+ health rating.
Kathy saved me and my boyfriend from a house buying disaster! Within 2 weeks of our closing date we had to switch lenders because the bank that had pre-approved us pulled the mortgage out from under us. Kathy stepped right in, rushed our mortgage approval through, and had us closing right on time! She guided us through the entire switch patiently and kindly. She thoroughly explained every single paper we signed and was available 24/7 to answer questions. I can't recommend her, or the Coastway Community Bank team, highly enough. She is absolutely a mortgage angel!
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.
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 September 30, 2013 Coastway Community Bank had $10.43 million in non-current loans and owned real-estate with $29.21 million in equity and loan loss allowances on hand to cover it. This gives Coastway Community Bank a Texas Ratio of 35.71% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Coastway Community Bank increased slightly from 22.29% as of September 30, 2012 to 35.71% as of September 30, 2013, resulting in a negative change of 60.23%. This indicates that the balance sheet and financial strength for Coastway Community Bank has declined slightly in recent periods.
In the past year, Coastway Community Bank has increased its total deposits by $29.47 million, resulting in 9.47% 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.
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 $382.66 million in assets with $29.21 million in equity, resulting in a capitalization level of 7.63%, which is below average.
|FDIC Certificate #||58937|
|Assets and Liabilities|
|Equity Capital||$27.60 million|
|Loan Loss Allowance||$1.61 million|
|Unbacked Noncurrent Loans||$5.26 million|
|Real Estate Owned||$5.17 million|
|Historic Data - September 2012|
|Equity Capital||$26.66 million|
|Loan Loss Allowance||$1.07 million|
|Unbacked Noncurrent Loans||$5.26 million|
|Real Estate Owned||$2.70 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.46%|
|Return on Assets||0.12%|
|Return on Equity||1.6%|
|Interest Income||$10.44 million|
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|0.50%||$50k||-||Access High Yield Savings Account|
|0.15%||$100||-||Holiday Club Account|
|0.15%||$100||-||Vacation Club Account|
|0.15%||$2,500||-||Money Market Plus Account|
|0.15%||-||-||IRA Money Market Plus Account|
|0.15%||-||-||Roth IRA Money Market Plus Account|
|0.10%||$2,500||-||NOW Checking Account|
|1.40%||$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||-||33 - 38 Month YourWay CD|
|1.00%||$1k||-||39 - 44 Month YourWay CD|
|0.85%||$1k||-||27 - 32 Month YourWay CD|
|0.65%||-||-||14 - 26 Month Goal Oriented CD|
|0.65%||$1k||-||14 - 20 Month YourWay CD|
|0.65%||$1k||-||21 - 26 Month YourWay CD|
|0.50%||$1k||-||9 - 13 Month YourWay CD|
|0.25%||$1k||-||5 - 8 Month YourWay CD|
|1.65%||-||-||60 Month Variable Rate IRA|
|1.65%||-||-||60 Month Variable Rate Roth IRA|
|1.40%||$1k||-||57 - 60 Month IRA|
|1.40%||$1k||-||57 - 60 Month Roth IRA|
|1.25%||$1k||-||45 - 50 Month IRA|
|1.25%||$1k||-||51 - 56 Month IRA|
|1.25%||$1k||-||45 - 50 Month Roth IRA|
|1.25%||$1k||-||51 - 56 Month Roth IRA|
|1.00%||$1k||-||33 - 38 Month IRA|
|1.00%||$1k||-||39 - 44 Month IRA|
|1.00%||$1k||-||33 - 38 Month Roth IRA|
|1.00%||$1k||-||39 - 44 Month Roth IRA|
|0.85%||$1k||-||27 - 32 Month IRA|
|0.85%||$1k||-||27 - 32 Month Roth IRA|
|0.65%||-||-||14 - 26 Month Education CD|
|0.65%||$1k||-||14 - 20 Month IRA|
|0.65%||$1k||-||21 - 26 Month IRA|
|0.65%||$1k||-||14 - 20 Month Roth IRA|
|0.65%||$1k||-||21 - 26 Month Roth IRA|
|0.50%||$1k||-||9 - 13 Month IRA|
|0.50%||$1k||-||9 - 13 Month Roth IRA|
|0.25%||$1k||-||5 - 8 Month IRA|
|0.25%||$1k||-||5 - 8 Month Roth IRA|