Ridgewood Savings Bank

71-02 Forest Avenue
Ridgewood, NY 11385
718-240-4800
www.ridgewoodbank.com
 
The people of Ridgewood Savings Bank have been proudly serving their local communities since the bank was founded back in 1921. A lot of things have changed through the years, but one thing has remained the same: their commitment to meeting the needs of their customers and communities.

Ridgewood Savings Bank is convenient, courteous, comfortable and secure. Whatever your financial needs, you'll find the valuable products and services you want.


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See Rates for: Checking | Savings | Money Market | CD

Checking Accounts

ApyMinMaxProduct
0.70%$75k-Acorn Checking
0.35%$2,500-Checking

Savings Accounts

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1.25%--School Savings Account
1.25%--Kids Club
0.80%$100-Savings Account
0.80%$200-Business Savings Account
0.80%--Club Account

Money Market Accounts

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0.80%$25k-PowerFlex Money Market

Certificates of Deposit

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2.75%$500-60 Month CD
2.75%$500-72 Month CD
2.75%$500-84 Month CD
2.25%$500-48 Month CD
1.75%$500-36 Month CD
1.60%$500-36 Month Bump UP CD
1.50%$500-30 Month CD
1.25%$500-24 Month CD
1.10%$500-18 Month CD
1.00%$500-12 Monrh CD
0.80%$500-9 Month CD
0.65%$500-6 Month CD
0.50%$500-90 Day CD
0.47%$100-18 Month Variable CD

Institution Statistics


FDIC Certificate #16026
BankRate ReportView
Year Established1921
Employees704
Primary RegulatorFDIC

Assets and Liabilities

Assets$4.44 billion
Loans$2.67 billion
Deposits$3.65 billion
Equity Capital$567.72 million
Loan Loss Allowance$10.99 million
Unbacked Noncurrent Loans$53.15 million
Real Estate Owned$38,000

Historic Data - March 2009

Assets$4.36 billion
Equity Capital$499.38 million
Loan Loss Allowance$10.99 million
Unbacked Noncurrent Loans$36.35 million
Real Estate Owned$38,000

Profit Margin - Quarterly

Net Interest Margin2.88%
Return on Assets0.37%
Return on Equity2.94%
Interest Income$46.85 million

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 March 31, 2010 Ridgewood Savings Bank had $53.18 million in non-current loans and owned real-estate with $578.71 million in equity and loan loss allowances on hand to cover it. This gives Ridgewood Savings Bank a Texas Ratio of 9.19% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Ridgewood Savings Bank increased slightly from 7.13% as of March 31, 2009 to 9.19% as of March 31, 2010, resulting in a negative change of 28.88%. This indicates that the balance sheet and financial strength for Ridgewood Savings Bank has declined slightly in recent periods.
Deposit Growth3
In the past year, Ridgewood Savings Bank has increased it's total deposits by $17.32 million, resulting in 0.48% 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 Ridgewood Savings Bank has shown is average.
Capitalization3
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. Ridgewood Savings Bank has $4.44 billion in assets with $578.71 million in equity, resulting in a capitalization level of 13.03%, which is average.
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