Asian Bank

Overview / Commentary
1023 Race Street, 2nd Floor
Philadelphia, PA 19107

Asian Bank is headquartered in Philadelphia and is the 100th largest bank in the state of Pennsylvania. It is also the 2,346th largest bank in the nation. It was established in 1999 and as of March of 2022, it had grown to 32 employees at 2 locations. Asian Bank's money market rates are 36% higher than the national average, and it boasts an A+ health rating.

Reviews (2)

Good bank for the average joe!

Posted by: |

I went to open a bank account because my work place recently required direct deposits, so I went to Asian Bank. There were little to no customers there when I arrived, so I waited for less than a minute and got to talk with one of the representatives. She was extremely nice and went over all the checking account options that I had. I went with the basic checking. She said there was only a minimum balance of $100, which is reasonable, and that that I will get my first 3 checks for free! She then took me through the whole process and within 20 minutes, I was done. Very happy and pleased with the experience. She also told me about mobile banking and how there is even an app for it. I use it a lot since I don't have the time to go to the bank physically all the time. It may not be the biggest bank, but it definitely work out for me.

Experience With Asian Bank

I opened up a basic checking account with the Asian Bank one year ago. I needed a 100 dollar minimum deposit and the representative told me that the daily minimum requirement is 100 dollars. If I went below the requirement, I would have to pay a 6 dollar fee. That was reasonable. The representative was friendly and opened up my account in about 15 minutes. She also asked me if anyone referred me to the bank because they were doing a referral program and both the referrer and the account opener would get an extra 25 bucks.

One week later, I wanted to do online banking so I called the bank to see how I can get started. The representative over the phone told me to use my social security number as both the username and password. It didn't work so the representative told me to go to their branch and set up online banking. I went there and the representative set it up in under 5 minutes. He then printed out a paper with a temporary username and password. He told me that if I had any problem, I can always come back. When I went home and tried to access my account online, it worked! Overall, I had a pleasant experience with my local bank. Nice customer service and very easy to set up an account.


Health Grade Components

FDIC Certificate #34759
Year Established1999
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.3%
Return on Equity - YTD11.93%
Annual Interest Income$3.4MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$329.0MM$279.7MM
LoansQ1 2022vs Q1 2021$254.1MM$227.8MM
DepositsQ1 2022vs Q1 2021$269.6MM$211.8MM
Equity CapitalQ1 2022vs Q1 2021$36.1MM$30.7MM
Loan Loss AllowanceQ1 2022vs Q1 2021$3.6MM$2.9MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$320.00K$472.00K
Real Estate OwnedQ1 2022vs Q1 2021$0$400.00K
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Always verify rates and promotions with the bank or credit union. We are not Asian Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Asian Bank Savings Account Rates

0.50%*$25k*-Savings Account
OTHER TIERS: 0.20% $250 - $25k
0.20%*$25k*-Business Savings
OTHER TIERS: 0.10% $250 - $25k
0.10%$50-Student Savings
0.01%$500-Secured Credit Card Savings

Asian Bank Money Market Rates

0.60%*$50k*-Money Market Account
OTHER TIERS: 0.20% $1k - $10k | 0.50% $10k - $50k
0.40%*$100k*-Business Money Market Account
OTHER TIERS: 0.10% $1k - $50k | 0.30% $50k - $100k

Asian Bank Checking Account Rates

0.10%$500-Premier Checking Account

Asian Bank CD Rates

1.75%$10k-15 Month CD Special
1.75%$1k-Business 15 Month CD Special
1.25%$1k-60 Month CD
1.25%$1k-Business 60 Month CD
1.00%$1k-12-23 Month CD
1.00%$1k-36-47 Month CD
1.00%$1k-24-35 Month CD
1.00%$1k-48-59 Month CD
1.00%$1k-Business 12-23 Month CD
1.00%$1k-Business 24-35 Month CD
1.00%$1k-Business 36-47 Month CD
1.00%$1k-Business 48-59 Month CD
0.30%$1k-01-05 Month CD
0.30%$1k-06-11 Month CD
0.30%$1k-Business 01-05 Month CD
0.30%$1k-Business 06-11 Month CD

Asian Bank IRA Rates

1.75%$10k-15 Month IRA Special
1.25%$1k-60 Month IRA
1.00%$1k-12-23 Month IRA
1.00%$1k-24-35 Month IRA
1.00%$1k-48-59 Month IRA
1.00%$1k-36-47 Month IRA
0.30%$1k-01-05 Month IRA
0.30%$1k-06-11 Month IRA

Asian Bank Locations
Asian Bank1023 Race StreetPhiladelphia, PA 19107
Castor Avenue Branch6509 Castor AvenuePhiladelphia, PA 19149

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