Columbia Bank is a New Jersey-based bank that serves a wide range of customers, including consumers, entrepreneurs, corporations, developers, and local government entities. The bank offers personal and business banking products and services, as well as wealth management services and guidance.
On the personal banking side, Columbia’s checking accounts offer several options to suit a consumer’s financial needs, including a free account with no monthly fees and a high-interest bearing account that comes with avoidable balance requirements. Savings accounts that are available give consumers access to free services like a debit card and online bill pay. By opening both a checking and savings account with Columbia, customers can be reimbursed for ATM fees up to a certain amount. The bank’s money market accounts have a minimum daily balance requirement in order to earn interest and off higher levels of interest for increased account balance thresholds. Certificates of deposit (CDs) range in term lengths from 7 days to 84 months and IRAs from 3 to 72 months. Youth targeted banking is also available and consists of a savings account that comes with very low initial deposit and minimum to earn interest requirements.
Columbia Bank online banking provides a web-based platform for customers to view all of their account activity, make and schedule fund transfers, set email alerts, pay bills, and make loan payments. The banking system also comes with a financial management tool powered by Quicken that integrates Columbia bank accounts into budgeting software and allows customers to effectively manage their finances. Mobile banking apps have also been released by the bank and provide smartphone and tablet access to accounts to make banking on the go convenient and easy.
Columbia Bank was originally established in 1926 as Columbia Savings and Loan Association, before shifting to its current name in 1995. The bank is headquartered in Fair Lawn, New Jersey and serves its customers through numerous branches in the New Jersey and New York regions.
The debit/check card is very inconvenient. We have to call frequently to verify transactions so that holds are released from our account.
Most recently, I called to clear our account for travel outside the US and even though I gave them our account number, they cleared only my card number for travel and not my husband's which we discovered when we were refused a purchase and had to borrow a friend's cell phone to make the international call to the bank. (The rep gave the excuse that I had mentioned only MY travel and not my husband's which was not the case, showing the bank's complete lack of taking any responsibility).
We made 2 purchases since that time and now they've turned off access to our card again including online banking and the customer service center is of course closed so here we are in England for the Olympics and have absolutely no access to our money.
We'll be changing banks when we return home.
This is not a huge bank yet a good size. They treat you like you live in a small town and I have even had them call me personally when my balance ran low & a check came in. Great bank!
If I could give this place less than a one star rating I would. I had just moved into the area and there is a Columbia Bank on the corner of my street, so I thought - how convenient - I'll open a checking account here. Big mistake. It has been almost three weeks since I opened my account, and I still do not have an ATM card or checks to access my money, due to the fact that the person who opened my account neglected to place the order for the ATM card & checks. And when I asked about it, all I got was an oh well, too bad kind of attitude. No one apologized or asked if they could do anything to help.
Not a great way to treat a new customer. Stay away from this bank.
This is an excellent local bank with good personal service that unfortunately varies widely from branch to branch. The branch on River Road in Fair Lawn is the best, with personable and intelligent staff. I have found that the branch on 208 is less accommodating, and I will never ever go to the Morlot Avenue branch again. Repeated rudeness on their part, and insisting that I come into the (empty) lobby to process transactions that are perfectly acceptable at the drive through successfully drove me away.
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 Columbia Bank (NJ) had $62.46 million in non-current loans and owned real-estate with $497.69 million in equity and loan loss allowances on hand to cover it. This gives Columbia Bank (NJ) a Texas Ratio of 12.55% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Columbia Bank (NJ) decreased dramatically from 19.27% as of March 31, 2013 to 12.55% as of March 31, 2014, resulting in a positive change of 34.88%.This indicates that the balance sheet and financial strength for Columbia Bank (NJ) has improved dramatically in recent periods.
In the past year, Columbia Bank (NJ) has increased its total deposits by $267.42 million, resulting in 8.57% 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 Columbia Bank (NJ) 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. Columbia Bank (NJ) has $4.57 billion in assets with $497.69 million in equity, resulting in a capitalization level of 10.90%, which is above average.
|FDIC Certificate #||28834|
|Assets and Liabilities|
|Equity Capital||$440.47 million|
|Loan Loss Allowance||$57.22 million|
|Unbacked Noncurrent Loans||$60.62 million|
|Real Estate Owned||$1.85 million|
|Historic Data - March 2013|
|Equity Capital||$410.27 million|
|Loan Loss Allowance||$56.29 million|
|Unbacked Noncurrent Loans||$60.62 million|
|Real Estate Owned||$2.61 million|
|Profit Margin - Quarterly|
|Net Interest Margin||2.69%|
|Return on Assets||0.44%|
|Return on Equity||4.57%|
|Interest Income||$39.36 million|
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|0.20%||$100||-||Health Savings Account|
|0.20%||$50||-||Passbook Variable IRA|
|0.20%||-||-||Distribution Variable IRA|
|0.20%||-||-||Distribution Variable Roth IRA|
|0.20%||$50||-||Passbook Variable Roth IRA|
|0.20%||-||-||Distribution Variable CESA|
|0.20%||$50||-||Passbook Variable CESA|
|0.30%||$25k||-||Online eAdvantage Money Market|
|1.00%||$10k||$250k||Online Yield Plus Checking|
|0.10%||$1k||-||NOW Return Style|
|2.15%||$500||-||Online 84 Month CD|
|2.15%||$500||-||84 Month CD|
|2.00%||$500||-||Online 72 Month CD|
|2.00%||$500||-||72 Month CD|
|1.85%||$500||-||60 Month CD|
|1.85%||$500||-||Online 60 Month CD|
|1.75%||$500||-||48 Month CD|
|1.75%||$500||-||Online 48 Month CD|
|1.55%||$500||-||36 Month Advantage Plus CD|
|1.40%||$500||-||36 Month CD|
|1.40%||$500||-||Online 36 Month CD|
|1.25%||$500||-||24 Month CD|
|1.25%||$500||-||Online 24 Month CD|
|0.75%||$500||-||18 Month CD|
|0.75%||$500||-||Online 18 Month CD|
|0.60%||$500||-||20 Month CD|
|0.50%||$500||-||12 Month CD|
|0.50%||$500||-||Online 12 Month CD|
|0.30%||$500||-||182 Day CD|
|0.30%||$500||-||Online 6 Month CD|
|0.20%||$2,500||-||7 Day CD|
|0.20%||$2,500||-||28 Day CD|
|0.20%||$500||-||91 Day CD|
|0.20%||$500||-||9 Month CD|
|0.20%||$500||-||Online 91 Day CD|
|0.20%||$500||-||Online 9 Month CD|
|2.15%||$500||-||72 Month IRA|
|2.00%||$500||-||60 Month IRA|
|1.90%||$500||-||48 Month IRA|
|1.55%||$500||-||36 Month IRA|
|1.25%||$500||-||24 Month IRA|
|0.90%||$500||-||40 Month IRA|
|0.90%||$500||-||42 Month IRA|
|0.75%||$500||-||18 Month IRA|
|0.60%||$500||-||20 Month IRA|
|0.60%||$500||-||25 Month IRA|
|0.60%||$500||-||30 Month IRA|
|0.60%||$100||-||18 Month Variable IRA|
|0.50%||$500||-||12 Month IRA|
|0.30%||$500||-||182 Day IRA|
|0.30%||$500||-||15 Month IRA|
|0.20%||$500||-||91 Day IRA|
|0.20%||$500||-||4 Month IRA|
|0.20%||$500||-||5 Month IRA|
|0.20%||$500||-||7 Month IRA|
|0.20%||$500||-||8 Month IRA|
|0.20%||$500||-||9 Month IRA|
|0.20%||$500||-||10 Month IRA|
|0.20%||$500||-||11 Month IRA|
|0.20%||$500||-||13 Month IRA|
|0.20%||$500||-||14 Month IRA|