CFG Bank


Overview / Commentary
410-823-0500
1422 Clarkview Road
Baltimore, MD 21209

CFG Bank is headquartered in Lutherville and is the 9th largest bank in the state of Maryland. It is also the 644th largest bank in the nation. It was established in 1997 and as of March of 2020, it had grown to 139 employees at 2 locations. CFG Bank's money market rates are 2X the national average, and it boasts an A+ health rating.

Related Posts

CFG Down To 1.04% APY - 8/8/2020

CFG dropped to 1.04% APY $25,000+

CFG Bank's Now Weekly Rate Cut - 7/16/2020

https://thecfgbank.com/deposit-rates A week after dropping to 1.16%/1.06%, it's now down to 1.10%/1.00%

CFG's Latest Biweekly Rate Cut - 7/9/2020

It's now down to 1.16% for $25k and up, 1.06% for $1k- $24,999 https://thecfgbank.com/deposit-rates

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Reviews (5)

Solid Overall Bank

Posted by: |

Overall, I'm very happy with having my money at CFG Bank. The rates are the best in the country and the customer service was very helpful when I called in to finish setting up my account.

I agree that the withdrawal limits could be better, but luckily for me I'm not moving large sums of money regularly in and out of the account.

As for the fact that they want a bunch of personal information, I didn't find it anything out of the norm. Banks have a TON of regulations they need to comply with they are doing what is required. If I had to choose between a bank that did MORE due diligence than less....well I'd always go with the more rigorous.

Just my two cents...

Bank Review

To open an account is somewhat onerous, but worth it. They just want to make sure all is on the up and up with a new account holder. Can't be too careful these days. I think this is a great bank.

Fine Customer Service And Good Rates

Posted by: |

CD's were recently above the market -- but were dropped this week; are now equal to top-tier banks at 2.45 to 2.5 for 12 to 18 months. Excellent customer service.

Must Provide Passwords From External Accounts

Must give them username and password from external accounts to set up transfers!!

"Money Market Accounts (NO CHECK WRITING PRIVILEGES FOR ONLINE MONEY MARKETS; CONSUMER ACCOUNTS ONLY) Once funding occurs the daily external transfer limit for the CFG High Yield Money Market Account is $5,000. Your external transfers may not exceed $30,000 in a 30-day rolling period."

CFG Bank Review

Posted by: |

Application response was an email request for "A valid copy of your driver’s license OR a copy of a utility bill from the address with your name on it
A copy of a phone bill with your name and phone number on it" The app required the amount and account # for initial funding of accout.
So I called and asked them what the problem was. I've dealt with numerous banks and never put out so much personal data for so little success. I told them to cancel the request after I asked them why they didn't just call me and why they didn't compare the DL data to the app.
Forget it; the APY is not worth it. Wish I had walked away when I was filling out the app.



Health
A+

Health Grade Components

Overall
FDIC Certificate #34294
Year Established1997
Employees139
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.37%
Return on Equity - YTD10.23%
Annual Interest Income$16.8MM
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$1.29B$925.6MM
LoansQ1 2020vs Q1 2019$964.1MM$705.9MM
DepositsQ1 2020vs Q1 2019$1.09B$749.6MM
Equity CapitalQ1 2020vs Q1 2019$167.3MM$164.5MM
Loan Loss AllowanceQ1 2020vs Q1 2019$20.8MM$15.8MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$7.4MM$11.6MM
Real Estate OwnedQ1 2020vs Q1 2019$18.00K$33.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

CFG Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.04%*$25k*-CFG High Yield Money Market - New Money
OTHER TIERS: 0.94% $1k - $25k

CFG Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.05%$500$250k60 Month CD - New Money
1.00%$500$250k33 Month CD - New Money
0.95%$500$250k12 Month CD - New Money
0.90%$500$250k18 Month CD - New Money
0.90%$500$250k13 Month Penalty Free CD - New Money
Locations


CFG Bank Locations
CFG Bank11 W. Ridgely RoadLutherville, MD 21093
Baltimore Branch1615 Thames StreetBaltimore, MD 21231

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