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Reviews (7)

I Opened A 12 Month CD Last Year With Doral &Amp

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!

PEOPLE SHOULD KNOW THAT THE BAUER STAR RATING ON THIS BANK IS "ZERO

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

Excellent Experience So Far!

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!

Good Rates And Helpful Customer Service

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

One Of The Worst Banking Services That I Have Seen

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.

 

 

 

Great, Friendly, "Hometown" Bank!

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!

Great Customer Service!

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



Health

Data for Q4 2013

Institution Health

C+

Texas Ratio

GRADE:
D

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, 2013 Doral Direct had $754.92 million in non-current loans and owned real-estate with $818.67 million in equity and loan loss allowances on hand to cover it. This gives Doral Direct a Texas Ratio of 92.21% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for Doral Direct decreased slightly from 103.97% as of December 31, 2012 to 92.21% as of December 31, 2013, resulting in a positive change of 11.31%.This indicates that the balance sheet and financial strength for Doral Direct has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Doral Direct has increased its total deposits by $354.62 million, resulting in 7.6% 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.

Capitalization

GRADE:
B+

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 $7.97 billion in assets with $818.67 million in equity, resulting in a capitalization level of 10.27%, which is above average.

Institution Statistics

Overall
FDIC Certificate #32102
Year Established1981
Employees1327
Primary RegulatorFDIC
Assets and Liabilities
Assets$7.97 billion
Loans$6.27 billion
Deposits$5.02 billion
Equity Capital$700.40 million
Loan Loss Allowance$118.27 million
Unbacked Noncurrent Loans$638.38 million
Real Estate Owned$116.53 million
Historic Data - December 2012
Assets$7.80 billion
Equity Capital$654.25 million
Loan Loss Allowance$124.20 million
Unbacked Noncurrent Loans$638.38 million
Real Estate Owned$105.73 million
Profit Margin - Quarterly
Net Interest Margin3.19%
Return on Assets-1.02%
Return on Equity-11.92%
Interest Income$335.83 million
Rates
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Doral Direct CD Rates

DetailsAPYMINMAXPRODUCT
1.50%$500-60 Month CD
1.32%$500-48 Month CD
1.20%$500-36 Month CD
1.08%$500-24 Month CD
1.01%$500- 18 Month CD
1.01%$500-18 Month Flex CD Promo
0.94%$500-12 Month CD
0.91%$500- 9 Month CD
0.87%$500- 6 Month CD
Locations

Doral Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 1451 F.D. Roosevelt Avenue - San Juan, PR 00920