2.5 star ratingAverage User Rating:
2.5 star rating based on 2 reviews.

GiftsforBanking.com

144-51 Northern Boulevard
Flushing, NY 11354
1-888-432-5890
www.giftsforbanking.com
GiftsforBanking, a value added program, is offered by iGObanking.com the online division of Flushing Savings Bank, FSB. Flushing Savings Bank, FSB is an FDIC insured institution established in 1929. GiftsforBanking CDs are FDIC insured to the maximum allowable limits.

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Review of GiftsforBanking.com Apple iPad 2 CD Special - 11/15/2011

GiftsforBanking.com is offering another special gift package for opening a CD. This one has a holiday theme. The rate and package details are currently listed at GiftsforBanking.com front page. It's s ...

Review of GiftsforBanking.com iPod touch CD Special - 8/4/2011

GiftsforBanking.com is offering another special gift package for opening a CD. This one has a back-to-school theme. The rate and package details are currently listed at GiftsforBanking.com front page. ...

Review Of The Giftsforbanking.com Summer CD Promotion (Forum) - 6/11/2011

Here's their latest summer promotion which ends at the end of day 6/14/11: 2.00% APY 5-year CD $50K minimum deposit Receive their "Classic Travel Collection" which includes: A three night trip for two to Las Vegas at the Luxor Hotel and Casino OR choose

Review of GiftsforBanking.com CD Special - iPad Valentine Bundle - 2/8/2011

GiftsforBanking.com is offering another special gift package for opening a CD. The CD rates are much lower than what they were offering last November. These rates and package details are currently lis ...

2011

2010




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GiftsforBanking.com CD Rates

ApyMinMaxProduct
0.95%$5k-5 Year CD
0.55%$5k-3 Year CD
0.35%$5k-2 Year CD

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


Flushing Savings Bank, FSB
OTS #11990
FDIC Certificate #16049
BankRate ReportView
Year Established1929
Employees368
Primary RegulatorOCC

Assets and Liabilities

Assets$4.30 billion
Loans$3.20 billion
Deposits$3.17 billion
Equity Capital$429.83 million
Loan Loss Allowance$29.60 million
Unbacked Noncurrent Loans$116.36 million
Real Estate Owned$4.34 million

Historic Data - September 2010

Assets$4.25 billion
Equity Capital$410.46 million
Loan Loss Allowance$27.40 million
Unbacked Noncurrent Loans$105.49 million
Real Estate Owned$1.18 million

Profit Margin - Quarterly

Net Interest Margin3.8%
Return on Assets0.81%
Return on Equity8.48%
Interest Income$172.13 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio3
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 September 30, 2011 GiftsforBanking.com had $120.69 million in non-current loans and owned real-estate with $459.43 million in equity and loan loss allowances on hand to cover it. This gives GiftsforBanking.com a Texas Ratio of 26.27% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for GiftsforBanking.com held steady from 24.36% as of September 30, 2010 to 26.27% as of September 30, 2011, resulting in a negative change of 7.84%. This indicates that the balance sheet and financial strength for GiftsforBanking.com has held steady in recent periods.
Deposit Growth5
In the past year, GiftsforBanking.com has increased its total deposits by $222.83 million, resulting in 7.57% 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 GiftsforBanking.com 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. GiftsforBanking.com has $4.3 billion in assets with $459.43 million in equity, resulting in a capitalization level of 10.67%, which is above average.
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Giftsforbanking.Com
1 stars - pb1333 - Wednesday, November 17, 2010 - 11:02 PM

I opened an account. Took about a week to get the email that the account was funded. I then tried to call, over and over. Can never get anyone on the phone. So I emailed and emailed again. I left phone messages for them to call me back. Nothing! Its' been three weeks since my account was funded and I haven't got the email for the free gift. I haven't gotten a reply. It's like they have fallen off the face of the earth. Now I'm worried about the money I deposited. .

6

So Far So Good
4 stars - buskya - Tuesday, November 15, 2011 - 3:24 PM

Last time they had simillar deal with gift certificates (Apple and iTunes) , I had no issue what so ever going through the process of opening CD and receiving gifts. I contacted them multiple times (iGoBanking and people who issue gifts) since it sounded fishy back then and I had no issues. The one thing that they can imporve is the look and feel of their website. It looks like some college passout came up with the website to learn the technology...it's going to cost this bank one star in rating.

2
 
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