DollarSavingsDirect

DollarSavingsDirect is headquartered in New York and is the 13^st largest bank in the state of New York. It is also the 129^th largest bank in the nation. It was established in 1850 and as of March of 2012, it had grown to 580 employees at 4 locations. DollarSavingsDirect's savings rates are 35% higher than the national average, and it has a 3-star health rating.

Related Posts

2011

• 1/30 - DollarSavingsDirect.com's History & Closing Tips (Forum)
• 1/21 - Dollar Savings Direct Rate Decrease (Forum)

2010

• 9/20 - Rate Decrease (Forum)
• 8/20 - Closing A Dollar Savings Direct Account (Forum)
• 6/16 - Comparing CDARS with DollarSavingsDirect's CD
• 6/8 - Update on DollarSavingsDirect's 16-Month CD and Emigrant Bank
• 5/12 - Dollar Savings Direct & Emigrant Direct Savings Account Rates Fall (Forum)
• 3/3 - Dollar Savings Direct Cuts Savings Account Rate to 1.30% (Forum)
• 2/9 - Emigrant Bank Cuts Rates at DollarSavingsDirect and EmigrantDirect (Forum)

2009

• 8/24 - 2.25% 16-Month CD at DollarSavingsDirect - Available Nationwide
• 3/7 - Dollar Savings Direct Cuts Savings Account Rate Again - Options and Issues to Consider
• 2/10 - ACH Transfers and Linking External Accounts at Dollar Savings Direct
• 1/23 - DollarSavingsDirect Savings Account Yield Falls to 3.50% - Alternatives?

2008

• 12/23 - 4.00% 16-Month Online CD at Dollar Savings Direct
• 10/8 - DollarSavingsDirect Raises Savings Account Yield to 4.00%
• 8/8 - Emigrant's New Internet Bank: DollarSavingsDirect

DollarSavingsDirect Savings Account Rates

Data for Q1 2012

Institution Statistics Emigrant Bank FDIC Certificate # 12054 BankRate Report View Year Established 1850 Employees 580 Primary Regulator FDIC Assets and Liabilities Assets $7.80 billion Loans $3.43 billion Deposits $5.87 billion Equity Capital $949.12 million Loan Loss Allowance $78.15 million Unbacked Noncurrent Loans $329.67 million Real Estate Owned $63.25 million Historic Data - March 2011 Assets $8.36 billion Equity Capital $1.00 billion Loan Loss Allowance $96.02 million Unbacked Noncurrent Loans $399.93 million Real Estate Owned $87.90 million Profit Margin - Quarterly Net Interest Margin 2.76% Return on Assets 0.85% Return on Equity 6.8% Interest Income $59.83 million

Institution Health Overall Score: 3 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 DollarSavingsDirect had $392.91 million in non-current loans and owned real-estate with $1.03 billion in equity and loan loss allowances on hand to cover it. This gives DollarSavingsDirect a Texas Ratio of 38.25% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for DollarSavingsDirect held steady from 44.38% as of March 31, 2011 to 38.25% as of March 31, 2012, resulting in a positive change of 13.82%.This indicates that the balance sheet and financial strength for DollarSavingsDirect has held steady in recent periods. Deposit Growth In the past year, DollarSavingsDirect has decreased its total deposits by -$1.1 billion, resulting in -15.83% 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 DollarSavingsDirect has shown is poor. 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. DollarSavingsDirect has $7.8 billion in assets with $1.03 billion in equity, resulting in a capitalization level of 13.17%, which is excellent.