Institution Statistics
| FDIC Certificate # | 12054 | | BankRate Report | View | | Year Established | 1850 | | Employees | 633 | | Primary Regulator | FDIC |
Assets and Liabilities | | Assets | $10.57 billion | | Loans | $4.48 billion | | Deposits | $8.40 billion | | Equity Capital | $945.89 million | | Loan Loss Allowance | $155.42 million | | Unbacked Noncurrent Loans | $670.83 million | | Real Estate Owned | $93.30 million |
Historic Data - March 2009 | | Assets | $13.49 billion | | Equity Capital | $638.36 million | | Loan Loss Allowance | $155.42 million | | Unbacked Noncurrent Loans | $698.83 million | | Real Estate Owned | $35.87 million |
Profit Margin - Quarterly | | Net Interest Margin | 2.33% | | Return on Assets | 0.45% | | Return on Equity | 5.85% | | Interest Income | $98.51 million |
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Institution Health
Overall Score:
2 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, 2010 EmigrantDirect.com had $764.13 million in non-current loans and owned real-estate with $1.1 billion in equity and loan loss allowances on hand to cover it. This gives EmigrantDirect.com a Texas Ratio of 69.38% 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 EmigrantDirect.com decreased slightly from 92.56% as of March 31, 2009 to 69.38% as of March 31, 2010, resulting in a positive change of 25.04%.This indicates that the balance sheet and financial strength for EmigrantDirect.com has improved slightly in recent periods. | | Deposit Growth |  | | In the past year, EmigrantDirect.com has decreased it's total deposits by -$1.17 billion, resulting in -12.26% 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 EmigrantDirect.com 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. EmigrantDirect.com has $10.57 billion in assets with $1.1 billion in equity, resulting in a capitalization level of 10.41%, which is below average. |
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Average User Rating:
Emigrant Direct-- A Good "Bridge" Bank
Emigrant Direct used to be one of my favorite internet banks, but their once high rates are merely competitive now. I still maintain a small balance in an "American Dream Savings" account (1.00% rate). ACH transfers are easy to/from which is a plus.
A bigger plus is their flexible term "My Way CDs" with rates as follows:
16-40 months: 1.50% 41-59 months: 2.00% 5yr-10yr: 2.50%
Their CDs make for convenient "bridges" to future maturing CDs. For example, say you have a CD maturing in 17 months (an odd term) and you want to add to it and make a larger CD at that time. Further, you want to get a decent return for the "add-on" money in the interim. The Emigrant Direct CD structure allows you to create a CD to meet this need--and 1.50% isn't bad for a 17 month CD.
A word of caution, however. Emigrant's rating is down to just 1-star according to bankrate.com -- it's lowest score. So be extremely cautious in staying within the insurance limits under FDIC.