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5 East 42nd Street
New York, NY 10017 is headquartered in New York and is the 16st largest bank in the state of New York. It is also the 152nd largest bank in the nation. It was established in 1850 and as of June of 2014, it had grown to 559 employees at 5 locations. has a C+ health rating.

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Reviews (3)

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 -- it's lowest score.  So be extremely cautious in staying within the insurance limits under FDIC.   



Pleased With Americandream Savings Account

I recently signed up for an AmericanDream Savings Account online. I'm really pleased with the process of setting up the account, as well as all of the options offered with online banking.  The 24/7 access is really a plus to me and has already saved me countless hours from going to and from a physical bank.  I was looking for a savings account with 1.00% annual percentage yield and great customer service.  I would recommend this online bank to others due to its swift processing, reliability, and excellent customer support.

Beneficiaries Are Limited

I have had good luck using Emigrant Bank. Currently their rates are lower than other online banks. My biggest complaint is that they only allow one beneficiary to be listed per account.


Data for Q2 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of June 30, 2014 had $373.2 million in non-current loans and owned real-estate with $1.09 billion in equity and loan loss allowances on hand to cover it. This gives a Texas Ratio of 34.15% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for experienced no significant changes from 30.69% as of June 30, 2013 to 34.15% as of June 30, 2014, resulting in a negative change of 11.29%. This indicates that the balance sheet and financial strength for has had no significant changes in recent periods.

Deposit Growth


In the past year, has decreased its total deposits by -$408.84 million, resulting in -8.01% 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 has shown is below average.



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. has $6.34 billion in assets with $1.09 billion in equity, resulting in a capitalization level of 17.23%, which is excellent.

Institution Statistics

FDIC Certificate #12054
Year Established1850
Primary RegulatorFDIC
Assets and Liabilities
Assets$6.34 billion
Loans$3.92 billion
Deposits$4.70 billion
Equity Capital$1.01 billion
Loan Loss Allowance$81.08 million
Unbacked Noncurrent Loans$320.45 million
Real Estate Owned$52.75 million
Historic Data - June 2013
Assets$7.15 billion
Equity Capital$1.51 billion
Loan Loss Allowance$85.97 million
Unbacked Noncurrent Loans$320.45 million
Real Estate Owned$53.62 million
Profit Margin - Quarterly
Return on Assets0.76%
Return on Equity4.89%
Interest Income$128.96 million
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0.50%--AmericanDream SavingsAccount
Locations is an Internet only bank and does not have branch locations. Its headquarters is located at 5 East 42nd Street - New York, NY 10017