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855-513-6725
1451 Fd Roosevelt Avenue
San Juan, PR 00920

Doral Bank is a Puerto Rico-based bank that is insured by the FDIC and operates several branches in the continental United States. It offers personal and business banking products and loans mainly through its physical branches, but also offers CDs through its online bank, Doral Direct. Its parent company, Doral Financial Corporation, is publicly traded on the New York Stock Exchange (Symbol: DRL).

On its personal banking side, Doral Bank offers checking, savings, and Money Market accounts, as well as Certificates of Deposit (CDs). A free checking and an interest checking account are offered and differ feature-wise only in that the interest checking account comes with a very competitive interest rate and a monthly service fee. Both checking accounts feature free check imaging, unlimited Doral Bank ATM transactions, and a debit card. The savings account also offers a very competitive interest rate and requires a monthly balance to be maintained in order to avoid a service charge. A money market account differs only from its savings counterpart in that it has a higher minimum balance requirement and allows customers to pay bills out of it. Doral Bank’s CDs are available in term lengths from 6 to 60 months, and interest rates differ slightly depending on where you look. The bank’s New York market offers slightly higher rates than the offerings found on Doral Direct. The bank’s business deposit accounts are similar to the personal accounts, but generally have higher minimum balance requirements.

Doral Bank online banking is a way for customers to sign up for and access all of their Doral accounts. Money transfers, transaction history viewing, and direct deposit can all be accomplished through the web-based service. No mobile banking apps have been released by the bank as of yet, and the online banking platform must be reached through the standard website.

Doral Bank was originally established as a mutual savings bank names Catano Federal Savings Bank. After transitioning to its current name in 1997, the bank changed its organization type to commercial bank with the FDIC. Doral Bank is currently headquartered in San Juan, Puerto Rico, and maintains branches not only across the territory, but also in the states of Florida and New York. Its product offerings may vary slightly from market to market, so check each of its individual sites for the most accurate rate information.

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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 Bank 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 Bank 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 Bank 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 Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Doral Bank 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 Bank 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 Bank 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

Always verify rates and promotions with the bank or credit union. We are not Doral Bank, we are a rate comparison website and can not provide official rates or promotions.

Doral Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.93%--Statement Savings
0.50%--Business Savings

Doral Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
1.03%$100k-Money Market
0.50%--Business Money Market Account

Doral Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.85%--Gold Interest Checking

Doral Bank CD Rates

DetailsAPYMINMAXPRODUCT
2.70%$500-120 Month Certificate
2.70%$500-Business 120 Month Certificate
2.30%$500-84 Month Certificate
2.30%$500-Business 84 Month Certificate
1.90%$500-60 Month Certificate
1.90%$500-Business 60 Month Certificate
1.65%$500-48 Month Certificate
1.65%$500-Business 48 Month Certificate
1.60%$500-36 Month Certificate
1.60%$500-Business 36 Month Certificate
1.45%$500-24 Month Certificate
1.45%$500-Business 24 Month Certificate
1.25%$500-18 Month Certificate
1.25%$500-Business 18 Month Certificate
1.20%$500-12 Month Certificate
1.20%$500-Business 12 Month Certificate
1.00%$500-6 Month Certificate
1.00%$500-Business 6 Month Certificate

Doral Bank IRA Rates

DetailsAPYMINMAXPRODUCT
2.70%$500-120 Month IRA
2.30%$500-84 Month IRA
1.90%$500-60 Month IRA
1.65%$500-48 Month IRA
1.60%$500-36 Month IRA
1.45%$500-24 Month IRA
1.25%$500-18 Month IRA
1.20%$500-12 Month IRA
1.00%$500-6 Month IRA
Locations

Doral Bank has 34 locations. Click to view all Doral Bank locations.