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5 star rating based on 1 review.

East River Bank

East River Bank Locations
4341 Ridge Avenue
Philadelphia , PA 19129
267-295-6420
www.eastriverbank.com

FDIC


East River Bank is headquartered in Philadelphia and is the 127th largest bank in the state of Pennsylvania. It is also the 2,692nd largest bank in the nation. It was established in 2006 and as of December of 2012, it had grown to 48 employees at 5 locations. East River Bank's savings rates are 15% higher than the national average, and it boasts a 5-star health rating.

East River Bank Routing Number: 036076215

Related Posts

Top 1-Year CD Rate and Checking Rate at East River Bank in Philly - Local Only - 3/25/2013

East River Bank continues to offer some good deals on its CD specials. The best one now is the 12-month CD which has a 1.15% APY. Minimum deposit is $500. It's listed in the bank's rates page as of 3/ ...

Top 14-Month CD Rate and Checking Account Rate at East River Bank in Philly - Local Only - 12/18/2012

East River Bank used to offer some very competitive CD specials. The only one that's notable now is its 14-month CD special which has a 1.25% APY. Minimum deposit is $2,000. It's listed in the bank's ...

Top 20-Month CD Rate and Checking Account Rate at East River Bank in Philly - Local Only - 1/25/2011

East River Bank has just started offering an especially good CD deal. It's an anniversary special with a 2.05% APY for a 20-month term. Minimum deposit is $2,000, and new money is required. This is a ...

East River Celebrates 5Th Anniversay With A 2.05% 20 Month CD (Forum) - 1/24/2011

Offered to celebrate its 5th anniversary, East River Bank, Philadelphia, is offering a 2.05% APY 20 month term for a minimum of $2,000 in "new" money.  East River accepts new deposits/accounts from those in the metropolitan Philadelphia area (includi

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See Rates for: Checking | Savings | Money Market | CD | IRA

East River Bank Checking Account Rates

ApyMinMaxProduct
1.01%$100-Go Anywhere Checking
0.40%$5k-Celebration Club Checking
0.35%$1,500k-Non-Profit Flex Checking
0.30%$250k-Business Flex Checking
0.20%$25k-Flex Platinum Checking
0.15%$25k-Flex Gold Checking
0.05%$50-Student Checking
0.05%$100-Flexible Checking

East River Bank Savings Account Rates

ApyMinMaxProduct
0.70%$100k-Go Anywhere Savings
0.60%$10k-Celebration Club Savings
0.60%$10k-Celebrate Kids Passbook Savings
0.40%$250k-Business Savings
0.05%--Passbook Savings
0.05%--Statement Savings
0.05%--Youth Savings

East River Bank Money Market Rates

ApyMinMaxProduct
0.50%$50k-Personal Money Market
0.40%$100k-Business Money Market

East River Bank CD Rates

ApyMinMaxProduct
1.60%$10k-60 Month Fixed Rate CD
1.45%$10k-48 Month Fixed Rate CD
1.35%$10k-36 Month Fixed Rate CD
1.15%$2k-20 Month Fixed Rate Certificate Special
1.10%$10k-30 Month Fixed Rate CD
1.05%$10k-24 Month Fixed Rate CD
1.00%$2k-14 Month Fixed Rate Certificate Special
1.00%$10k-18 Month Fixed Rate CD
0.80%$10k-12 Month Fixed Rate CD
0.70%$2k-10 Month Fixed Rate Certificate Special
0.40%$10k-6 Month Fixed Rate CD
0.20%$10k-91 Day CD

East River Bank IRA Rates

ApyMinMaxProduct
1.60%$10k-60 Month Fixed Rate IRA
1.60%$10k-60 Month Fixed Rate Roth IRA
1.45%$10k-48 Month Fixed Rate IRA
1.45%$10k-48 Month Fixed Rate Roth IRA
1.35%$10k-36 Month Fixed Rate IRA
1.35%$10k-36 Month Fixed Rate Roth IRA
1.10%$10k-30 Month Fixed Rate IRA
1.10%$10k-30 Month Fixed Rate Roth IRA
1.05%$10k-24 Month Fixed Rate IRA
1.05%$10k-24 Month Fixed Rate Roth IRA
1.00%$10k-18 Month Fixed Rate IRA
1.00%$10k-18 Month Fixed Rate Roth IRA
0.80%$10k-12 Month Fixed Rate IRA
0.80%$10k-12 Month Fixed Rate Roth IRA
0.40%$10k-6 Month Fixed Rate IRA
0.40%$10k-6 Month Fixed Rate Roth IRA
0.20%$10k-91 Day IRA
0.20%$10k-91 Day Roth IRA

Rates updated: 5/21/2013

Data for Q4 2012


Institution Statistics


East River Bank
FDIC Certificate #58171
BankRate ReportView
Year Established2006
Employees48
Primary RegulatorFDIC

Assets and Liabilities

Assets$237.59 million
Loans$191.06 million
Deposits$200.12 million
Equity Capital$23.24 million
Loan Loss Allowance$2.53 million
Unbacked Noncurrent Loans$1.50 million
Real Estate Owned$1.03 million

Historic Data - December 2011

Assets$222.89 million
Equity Capital$22.07 million
Loan Loss Allowance$2.11 million
Unbacked Noncurrent Loans$3.66 million
Real Estate Owned$361,000

Profit Margin - Quarterly

Net Interest Margin4.1%
Return on Assets0.51%
Return on Equity5.25%
Interest Income$11.54 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio4
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 East River Bank had $2.53 million in non-current loans and owned real-estate with $25.76 million in equity and loan loss allowances on hand to cover it. This gives East River Bank a Texas Ratio of 9.83% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for East River Bank decreased significantly from 16.64% as of December 31, 2011 to 9.83% as of December 31, 2012, resulting in a positive change of 40.93%.This indicates that the balance sheet and financial strength for East River Bank has improved significantly in recent periods.
Deposit Growth5
In the past year, East River Bank has increased its total deposits by $13.41 million, resulting in 7.18% 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 East River Bank has shown is excellent.
Capitalization4
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. East River Bank has $237.59 million in assets with $25.76 million in equity, resulting in a capitalization level of 10.84%, which is above average.
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East River Bank - Responsive, Friendly, With 1.40% Go Green Checking Interest Without Pitfalls
5 stars - Pennsy_Al - Thursday, April 28, 2011 - 10:56 AM

Philadelphia's East River's still current 1.40% Go Green checking account (min. balance, $100, no stated maximum) remains the top interest-bearing checking account in the tri-state Delaware Valley area.  We fled Wachovia two years ago, fearing higher fees and poorer service once Wells Fargo took full command, for East River and have not looked back.

Their Go Green account is NOT a reward checking account, that is, it does not have all the qualifying conditions of an RCA.  It might serve East River to add some conditions, as the bank's statement indicates it has very low income other than from interest on loans. (They do not issue credit cards.  They do, of course, issue ATM/debit cards on the Visa system.)

To open an account, you need to stop by one of their two offices, both on Ridge Ave. -- in the East Falls or Roxborough neighborhoods -- Philadelphia, and have the usual proper ID.

As with many mostly smaller institutions, East River debit card holders can access the Allpoint system nationally, and in Canada, Australia, and Mexico without any ATM charge.  (I assume there is at the very least the 1% Visa fee against the value of foreign transactions.) 

It is not quite clear to me why their Go Green account beats their savings instruments.  I have asked... only to get basically a smile. 

At one point, I needed to cash out on an expiring IRA CD, for a home purchase.  Well, wherever the CD document was, ERB did not buy me in paperwork.  They e-mailed refs to the forms, which I scanned, completed, and e-mailed back.  They promptly transferred the funds to my Go Green account. 

Almost exclusively I bank electronically. 

Have been completely pleased with the way their bill pay system works.  (I do not know which third party processor actually effects the payments.)  We have linked up our three credit cards to our checking account.  When the card-issuer sends out a bill, we can see it via our ERB account without having to log into the card issuer (that is, we've provided ERB with our userid & password; that was our choice), and pay the card-issuer.

They are a member of the PopMoney system, which allows for direct money transfers bank to bank, as well as to those with e-mail accounts, etc.   Whenever I have had a question about an online service, their IT manager, Mr. Leslie, fairly rapidly responds with real assitance.  What a gem he is -- and he seems typical of ERB service.  A good bank with which to deal.

4/28/2011





 

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