HSBC Advance

P.O. Box 4045
Buffalo, NY 14240
1.888.404.4050
www.hsbcadvanceusa.com
 
HSBC Advance is HSBC Bank USA, National Associations’s online-only banking business designed to help you reach your savings goals. Our high-yield accounts let you make the most of your money, and manage it online as it grows. We’re part of HSBC, one of the largest banking and financial service organizations in the world.

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HSBC Advance (formerly HSBC Direct) Cuts Savings Account Rate - 2/8/2010

HSBC Advance reduced its savings account rate from 1.35% to 1.20% APY. Refer to the bottom of this blog post for its recent rate history.

HSBC Direct Changes Name to HSBC Advance - 2/2/2010

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See Rates for: Checking | Savings | CD

Checking Accounts

ApyMinMaxProduct
0.85%--Online Payment Account

Savings Accounts

ApyMinMaxProduct
1.10%--Online Savings

Certificates of Deposit

ApyMinMaxProduct
1.40%--48 Month Online CD
1.01%--12 Month Online CD
1.01%--18 Month Online CD
0.75%--36 Month Online CD
0.70%--24 Month Online CD
0.70%--30 Month Online CD
0.10%--6 Month Online CD
0.10%--9 Month Online CD

Institution Statistics


FDIC Certificate #589
BankRate ReportView
Year Established1812
Employees11542
Primary RegulatorFED

Assets and Liabilities

Assets$110.31 billion
Loans$61.47 billion
Deposits$75.42 billion
Equity Capital$8.40 billion
Loan Loss Allowance$346.54 million
Unbacked Noncurrent Loans$294.32 million
Real Estate Owned$14.38 million

Historic Data - June 2003

Assets$90.40 billion
Equity Capital$7.59 billion
Loan Loss Allowance$346.54 million
Unbacked Noncurrent Loans$394.79 million
Real Estate Owned$11.05 million

Profit Margin - Quarterly

Net Interest Margin3.33%
Return on Assets1.3%
Return on Equity16.02%
Interest Income$1.81 billion

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio5
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 June 30, 2004 HSBC Advance had $308.7 million in non-current loans and owned real-estate with $8.74 billion in equity and loan loss allowances on hand to cover it. This gives HSBC Advance a Texas Ratio of 3.53% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for HSBC Advance decreased slightly from 5.12% as of June 30, 2003 to 3.53% as of June 30, 2004, resulting in a positive change of 30.98%.This indicates that the balance sheet and financial strength for HSBC Advance has improved slightly in recent periods.
Deposit Growth5
In the past year, HSBC Advance has increased it's total deposits by $14.34 billion, resulting in 23.47% 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 HSBC Advance has shown is excellent.
Capitalization1
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. HSBC Advance has $110.31 billion in assets with $8.74 billion in equity, resulting in a capitalization level of 7.92%, which is poor.
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