Adirondack Bank is headquartered in UTICA and is the 55th largest bank in the state of New York. It is also the 1,104th largest bank in the nation. It was established in 1898 and as of December of 2024, it had grown to 200 employees at 19 locations. Adirondack Bank's CD rates are 3X the national average, and it has a B health rating.
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Lost Over 1 GRAND With This Bank
I live in Ilion, but went to college at Cortland. The closest branch to Cortland is in Utica, which is about an hour and a half away. While I was at Cortland, my account was hacked. I contacted the bank, and they said I had to come in person to resolve the issue. I told them I couldn’t and asked if they could close my account so I didn’t continue to lose money (I had only lost about $30 at the time) and they said yes. I started banking with key bank and stopped paying attention to my Adirondack bank account. A few months later, I get a letter in the mail that my account had been overdrafted and my account was in the negatives, mind you, I had my account set up so once it hit $0, it wouldn’t allow any more purchases. They had told me they closed my account, yet I continued to lose money. I had over a grand in my account before it was hacked. They then refused to give me my money back that I lost and gave me a number to call and that number didn’t help either. I asked them to close my account again and they said they would. Now, over a year later, and after being told twice that my account was closed, I accidentally transferred money from my cashapp to my adk account because I forgot to switch my cash app transfer to my new account. Now, that money is in my adk account that was supposedly closed twice, and they’re making me come in to resolve it. Please don’t bank here. Any other bank is better.
WORST BANK EVER
i had an account with this bank for my disabled child 5 years ago .. ssa deposited to the wrong account which overdrew the account . at this point i am living in florida . i called the bank to find out how to resolve the overdraft they said i had to come in i explained where i lived they said i still had to come in .. 6 months later i was told when i received a letter that i HAD TO COME IN TO RESOLVE IT .. i live 1200 miles away! it did not matter .. how am i supposed to come in??? they said well we are putting you on chexsystems .. i said well i cant come in .. they hung up .. 5 years later i am still UNABLE to resolve this unless i fly to ny to resolve it .. this is the ONLY bank i have ever seen that literally REFUSES to resolve an issue like this ... GET WITH THE 21st century .. i mean you are refusing to even allow me to mail you a check! .. WORST BANK EVER
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 28380 |
| Year Established | 1898 |
| Employees | 200 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.32% |
| Return on Equity - YTD | 4.84% |
| Annual Interest Income | $40.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $932MM$963.6MM |
| Loans | Q4 2024vs Q4 2023 | $618.5MM$623.4MM |
| Deposits | Q4 2024vs Q4 2023 | $838MM$836.7MM |
| Equity Capital | Q4 2024vs Q4 2023 | $64.5MM$63.7MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $4.5MM$4.3MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $8.5MM$6MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $27K$0 |
