Vantage Point Bank is a Pennsylvania-based bank that strives to achieve a reputation as a community-driven institution. It offers personal and business banking products, investments and insurance, and mortgages.
On its personal banking side, Vantage Point offers checking, savings, money market, CDs, and IRA CDs to meet its customers’ needs. One of its checking accounts is completely free and has no minimum balance requirement. Another checking account option bears interest on balances over a low amount determined by the bank. The bank’s savings account is interest bearing and requires a low initial deposit to open. The money market account is very similar to the savings account and offers a higher level of interest if a minimum account balance threshold is met. Vantage Point can also open a Certificate of Deposit (CD) account with a small initial deposit and ranging in term lengths from 3 months to 5 years. On the business banking side, the bank offers similar accounts and rates. As far as investments, the bank makes financial planning available through advisors who will help customers with tax planning, debt management, and asset protection
Vantage Point Bank online banking makes a web-based banking system available to consumers so they can perform account management tasks quickly and easily. Tasks like transferring funds, paying bills, and ordering checks can be accomplished anywhere there is Internet access.
Vantage Point Bank was established in 2007 and is headquartered in Horsham, Pennsylvania, just north of Philadelphia. It serves its customers through a small number of branches located in the Philadelphia area.
Very bad experience-
Higher than promised interest rate and closing cosys approx 20% higher than most banks.
They come across as being very nice but watch out-
I encourage you to shop and compare closing costs- VPB charged me approx $2,000 for processing and administration fees. While other lenders charged approx $699.00.
Shop and compare be smart!!
My experience with Vantage Point was great. Excellent service and really fast closing. My closing costs were within $7 of what I was told they would be and the rate was actually 1/8 % lower. Yes, their costs on a couple of items were higher than some other but other costs were lower. Overall thier closing costs were very competitive and my mortgage originator was most professional
We got pre-approved by an agent in Chicago. Then he asked me to wire money to his personal chase account for "escrow." I called hq, and he was fired. But that didn't stop the fraud on our accounts. And I asked vantage point to make it right by paying for credit monitoring or some other compensation. They refused. If you dont believe me, comment on this post. I have the emails to prove it and will be alerted when you comment. I talked to the broker manager and the h/r director. Both washed their hands of it.
My company rebuilt their tellers desk in Horsham. I was asked to perform the work on a rush basis as they were opening soon. I met originally with the president of the company who released us to do the work. He was then fired but I was assured personally by David Bezar, one of the corporate execs. that there was no problem, we would be paid. We did our work and sent a bill.
Not only have we not been paid, but they said that they had to repair our work equalling the sum of our contract. That's a bold faced lie. We were never contacted to do any repairs, which we would have done immediately had there really been anything to repair, but on three occasions I offered to meet with the president of the company, Dan O'Brien who has yet to respond. He said he would send photos but never did. He won't take phone calls. David Bezar won't take phone calls.
These people are a disgrace. I suggest that anyone thinking of using this bank turn and run away as fast as possible. They are lies, cheats & should be in jail for theft.
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, 2013 Vantage Point Bank had $1.83 million in non-current loans and owned real-estate with $3.62 million in equity and loan loss allowances on hand to cover it. This gives Vantage Point Bank a Texas Ratio of 50.57% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Vantage Point Bank increased slightly from 16.40% as of September 30, 2012 to 50.57% as of September 30, 2013, resulting in a negative change of 208.36%. This indicates that the balance sheet and financial strength for Vantage Point Bank has declined slightly in recent periods.
In the past year, Vantage Point Bank has increased its total deposits by $7.52 million, resulting in 11.81% 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 Vantage Point Bank has shown is excellent.
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. Vantage Point Bank has $74.65 million in assets with $3.62 million in equity, resulting in a capitalization level of 4.86%, which is poor.
|FDIC Certificate #||58531|
|Assets and Liabilities|
|Equity Capital||$3.12 million|
|Loan Loss Allowance||$507,000|
|Unbacked Noncurrent Loans||$1.80 million|
|Real Estate Owned||$29,000|
|Historic Data - September 2012|
|Equity Capital||$7.45 million|
|Loan Loss Allowance||$367,000|
|Unbacked Noncurrent Loans||$1.80 million|
|Real Estate Owned||$62,000|
|Profit Margin - Quarterly|
|Net Interest Margin||2.7%|
|Return on Assets||-2.34%|
|Return on Equity||-46.87%|
|Interest Income||$2.16 million|
Always verify rates and promotions with the bank or credit union. We are not Vantage Point Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.45%||$25k||-||Business Money Market Plus Account|
|0.45%||$25k||-||Vantage Money Market Plus Account|
|0.20%||$50||-||Business Money Market Account|
|0.20%||$50||-||Money Market Account|
|0.20%||$500||-||Interest Checking Account|
|0.20%||$50||-||Business Interest Checking Account|
|0.20%||$500||-||Vantage Checking Plus Account|
|1.35%||$1k||-||5 Year CD|
|0.99%||$1k||-||4 Year CD|
|0.89%||$1k||-||3 Year CD|
|0.75%||$1k||-||2 Year CD|
|0.65%||$1k||-||18 Month CD|
|0.50%||$1k||-||12 Month CD|
|0.35%||$1k||-||6 Month CD|
|0.15%||$1k||-||3 Month CD|
|Vantage Point Bank Locations|
|Vantage Point Bank||100 Gibraltar Road||Horsham, PA 19044|