3 star ratingAverage User Rating:
3 star rating based on 7 reviews.

Doral Direct

415 Richard Jackson Blvd, Suite 100
Panama City Beach, FL 32407
855-513-6725
www.doraldirect.com

FDIC


Doral Direct is headquartered in San Juan and is the 4th largest bank in the state of PR. It is also the 131st largest bank in the nation. It was established in 1981 and as of December of 2012, it had grown to 1,339 employees at 10 locations. Doral Direct has a 2-star health rating.

Related Posts

Top CD Rates at Doral Bank Direct - Nationally Available - 9/10/2012

Doral Bank Direct continues to offer competitive CD rates. The best ones are its short-term CDs which are currently rate leaders for CDs available nationwide. These are a 0.92% APY 6-month CD and a 0. ...

Competitive 1-Year & 3-Year CD Rates at Doral Bank Direct - 5/10/2012

Doral Bank Direct continues to offer some competitive CD rates. The best two are a 1.15% APY 1-year CD and a 1.50% APY 3-year CD. The 6-month CD rate is also competitive at 0.75%. It's hard to believe ...

Top 1-Year CD Rate at Doral Bank Direct - 3/29/2011

Every now and then Doral Bank Direct offers competitive CD rates. Its latest deal is a 1-year CD with a 1.40% APY. Minimum deposit is $1,000. This is the only rate that's competitive. All the other CD ...

PEOPLE OUGHT TO KNOW THAT THE BAUER STAR RATING OF DORAL BANK IS "ZERO (Forum) - 4/4/2010

PEOPLE OUGHT TO KNOW THAT THE BAUER STAR RATING OF DORAL BANK IS "ZERO-STAR"  THE VERY LOWEST FINANCIAL RATING THAT BAUER ASSIGNS BASED ON THE QUARTERLY FINANCIAL REPOSTS REQUIRED OF ALL BANKS.

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Doral Direct CD Rates

ApyMinMaxProduct
1.49%$500-60 Month CD
1.32%$500-48 Month CD
1.20%$500-36 Month CD
1.09%$500-24 Month CD
1.03%$500-High Yield 18 Month CD
0.96%$500-12 Month CD
0.92%$500-High Yield 9 Month CD
0.88%$500-High Yield 6 Month CD

Rates updated: 5/25/2013

Data for Q4 2012


Institution Statistics


Doral Bank
FDIC Certificate #32102
BankRate ReportView
Year Established1981
Employees1339
Primary RegulatorFDIC

Assets and Liabilities

Assets$7.80 billion
Loans$6.11 billion
Deposits$4.67 billion
Equity Capital$654.25 million
Loan Loss Allowance$124.20 million
Unbacked Noncurrent Loans$679.97 million
Real Estate Owned$105.73 million

Historic Data - December 2011

Assets$7.24 billion
Equity Capital$648.12 million
Loan Loss Allowance$92.60 million
Unbacked Noncurrent Loans$475.89 million
Real Estate Owned$114.26 million

Profit Margin - Quarterly

Net Interest Margin3.17%
Return on Assets-1.21%
Return on Equity-14.19%
Interest Income$339.53 million

Institution Health


Overall Score:
2 out of 5
2
Texas Ratio1
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, 2012 Doral Direct had $785.7 million in non-current loans and owned real-estate with $778.45 million in equity and loan loss allowances on hand to cover it. This gives Doral Direct a Texas Ratio of 100.93% which is poor. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Doral Direct increased slightly from 75.42% as of December 31, 2011 to 100.93% as of December 31, 2012, resulting in a negative change of 33.82%. This indicates that the balance sheet and financial strength for Doral Direct has declined slightly in recent periods.
Deposit Growth5
In the past year, Doral Direct has increased its total deposits by $226.88 million, resulting in 5.11% 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 Doral Direct has shown is excellent.
Capitalization3
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. Doral Direct has $7.8 billion in assets with $778.45 million in equity, resulting in a capitalization level of 9.98%, which is average.
Write Review

I Opened A 12 Month CD Last Year With Doral &Amp
1 stars - Anonymous - Thursday, January 28, 2010 - 2:57 PM

I opened a 12 month CD last year with Doral & they held the check for approx. 3 weeks without depositing it.  When I complained they said that they needed some info not asked for on their form and was planning to write me a letter.  I wrote to the Feds & Doral apologized and agreed to enter the account dated when they received the check.

Now when the CD came due they are making it VERY difficult to get my money back.  They will not give you a supervisor & do not return promised calls.  They do not respond to emails.  They are not letting me access my account online.

I will never use this bank again.

Doral Direct is a bad bank!

11

PEOPLE SHOULD KNOW THAT THE BAUER STAR RATING ON THIS BANK IS "ZERO
1 stars - Anonymous - Sunday, April 4, 2010 - 9:42 AM

PEOPLE SHOULD KNOW THAT THE BAUER STAR RATING ON THIS BANK IS "ZERO-STAR", THE LOWEST FINANCIAL RATING THAT BAUER GIVES.  BAUER RATINGS ARE BASED ON THE QUARTERLY FINANCIAL REPORTS REQUIRED OF ALL BANKS

8

Excellent Experience So Far!
5 stars - jtsaver99 - Tuesday, September 11, 2012 - 10:31 PM

Applying was easy enough and customer service was fabulous.  Had some issues about the information I needed to supply but called and was greeted by warm, friendly and but most of all extremely knowledgable service reps.  What a relief!  Very competitive rates too and happy to have found them.  Thank you deposit accounts!

6

Good Rates And Helpful Customer Service
4 stars - jkind - Friday, September 14, 2012 - 6:49 AM

Application takes some time to complete but you can call them if you have questions. Good experience overall.

5

One Of The Worst Banking Services That I Have Seen
1 stars - rauldhk - Monday, January 23, 2012 - 9:28 AM

Really wonder how this bank is still operating in today's world with such horrendous customer services, my guess would be that people don't have options. Where in the world you can find a bank where you fax documents and no one knows where that document is - it takes days (3-4 days) for someone to locate a fax.

Everytime you call there is a standard 10 min wait. 

A change of address takes 2 weeks. I guess planets were built during this time. I changed the address of all my "US" banks and credit cards in minutes (YES MINUTES) and this bank takes 2 weeks for a change of address.

 

 

 

4

Great, Friendly, "Hometown" Bank!
5 stars - Oldnole - Thursday, January 17, 2013 - 12:40 PM

Just stopped by Doral Bank in Panama City Beach, FL, recently and was exceptionally impressed by their terrific, genuinely friendly, customer service. I was greeted warmly when I walked in the door, had pleasant, helpful conversations with several employees, and left feeling as if a member of my own family worked there! They work diligently and successfully to maintain a true "hometown bank" feel and I highly recommend Doral Bank!

3

Great Customer Service!
5 stars - kw123 - Thursday, January 17, 2013 - 11:29 AM

The customer service is much better, and I like the "hometown" feel it offers.

1