Grand Yield Direct

1395 Northern Boulevard
Manhasset, NY 11030
1-800-588-5871
www.applebank.com

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Grand Yield Direct is headquartered in Manhasset and is the 12^st largest bank in the state of New York. It is also the 124^th largest bank in the nation. It was established in 1863 and as of March of 2012, it had grown to 631 employees at 51 locations. Grand Yield Direct's savings rates are 25% higher than the national average, and it boasts a 5-star health rating.

Grand Yield Direct Savings Account Rate Falls (Forum) - 4/28/2010

Apple Bank for Savings reduced the rate of its Grand Yield Direct Savings Account from 1.25% to 1.15% APY. Thanks to the reader who mentioned this news in the Open Discussion Thread.

Grand Yield Direct's Savings Account Yield Falls to 1.25% (Forum) - 3/9/2010

Apple Bank for Savings cut its Grand Yield Direct savings account yield today from 1.40% to 1.25% APY. Refer to my Grand Yield Direct review for the rate history and for more account details.

Top Online Savings Accounts - Best Yields and the Strongest Banks - 4/19/2009

Last year I put together a short list of the top savings accounts from the strongest banks. I thought it would be interesting to review these and come up with a new list. In this September 2008 post I developed a short list based on the following...

More Savings Account Rate Cuts - Update - 2/14/2008

Online banks continue to cut rates on their savings accounts and CDs. One small bit of good news is that it's looking unlikely we'll see another emergency cut by the Fed thanks to the January retail sales data (see Times Online article). However, most do...

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See Rates for: Checking | Savings | CD

Grand Yield Direct Checking Account Rates

	Apy	Min	Max	Product
	0.75%	-	-	Grand Yield Direct Advantage Interest Checking

Grand Yield Direct Savings Account Rates

	Apy	Min	Max	Product
	0.65%	-	-	Grand Yield Direct Savings Account

Grand Yield Direct CD Rates

	Apy	Min	Max	Product
	0.75%	$5k	-	12 Month Grand Yield Direct CD

Rates updated: 5/27/2012

Data for Q1 2012

Institution Statistics

Apple Bank for Savings
FDIC Certificate #	16068
BankRate Report	View
Year Established	1863
Employees	631
Primary Regulator	FDIC
Assets and Liabilities
Assets	$8.37 billion
Loans	$4.42 billion
Deposits	$7.45 billion
Equity Capital	$731.16 million
Loan Loss Allowance	$9.75 million
Unbacked Noncurrent Loans	$5.52 million
Historic Data - March 2011
Assets	$6.70 billion
Equity Capital	$677.42 million
Loan Loss Allowance	$7.68 million
Unbacked Noncurrent Loans	$6.08 million
Profit Margin - Quarterly
Net Interest Margin	1.91%
Return on Assets	1%
Return on Equity	11.09%
Interest Income	$48.55 million

Institution Health

Overall Score:

5 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, 2012 Grand Yield Direct had $5.52 million in non-current loans and owned real-estate with $740.91 million in equity and loan loss allowances on hand to cover it. This gives Grand Yield Direct a Texas Ratio of 0.75% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Grand Yield Direct decreased slightly from 0.89% as of March 31, 2011 to 0.75% as of March 31, 2012, resulting in a positive change of 15.95%.This indicates that the balance sheet and financial strength for Grand Yield Direct has improved slightly in recent periods.
Deposit Growth
In the past year, Grand Yield Direct has increased its total deposits by $1.52 billion, resulting in 25.69% 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 Grand Yield Direct has shown is excellent.
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. Grand Yield Direct has $8.37 billion in assets with $740.91 million in equity, resulting in a capitalization level of 8.85%, which is average.