Climate First Bank

Overview / Commentary
5301 Central Ave
Saint Petersburg, FL 33710

Climate First Bank is headquartered in SAINT PETERSBURG and is the 50th largest bank in the state of Florida. It is also the 1,845th largest bank in the nation. It was established in 2021 and as of September of 2023, it had grown to 71 employees at 3 locations. Climate First Bank's money market rates are 12X the national average, and it boasts an A+ health rating.

Related Posts

Climate First Bank Adds Nationally Available CDs, MMA, and Checking Accounts - 1/15/2024

Climate First Bank is currently offer 5.34% APY on two short-term CDs, Choice Personal MMA, and Choice Personal Checking accounts. New money required.

Reviews (2)

Opening A CD Is Smooth, But CSR Aid Needed At Maturity

I opened a 15-month Flex CD via their website and it went very smoothly. I had to complete my application in stages while transferring funds from a matured Ally CD to my local bank, which I planned to use as a linked external FI — and then a holiday weekend made me wait a couple of extra days for my transferred money to become "available" at the local bank. Climate First Bank's online application process was easy and all went well, with no delays; everything happened promptly. Good communication from bank personnel in answering my few questions, too. The day after I submitted my application with instructions for pulling funds from my local bank to fund the CD, my local bank notified me that the withdrawal had taken place. So far, so good.

I established an online customer account at the Climate First Bank website and submitted a secure message asking whether there was a way for me to set up the external linked bank for eventual use in case I decide to withdraw my money upon the CD's maturity if I happen t\o decide not to let the balance roll over into a new CD. I got a phone call from someone at Climate First Bank the next day, responding to my question — and he told me that (1) it might take up to 5 days for my transferred funds to appear in the CD account; and (2) if I want to withdraw my money once the CD matures, I will need to contact the bank for assistance in setting up an ACH transfer at that time. Currently, there is no way for me as the accountholder to establish a linked external account and initiate a transfer from the matured CD. I guess I can live with that, as I like the 5.34% APY on this CD, but given how well their online application process worked, I am disappointed that they do not also offer a direct way for me to set up a linked external account and withdraw the balance at maturity.

Be Aware. They Use Chexsystems

Per the CS, they don't pull a credit report but for some reason they pull ChexSystems. Strange for a bank. You expect this from a CU, but not a bank.


Health Grade Components

FDIC Certificate #59257
Year Established2021
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-0.48%
Return on Equity - YTD-3.93%
Annual Interest Income$16MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$464.3MM$249.9MM
LoansQ3 2023vs Q3 2022$390.8MM$195MM
DepositsQ3 2023vs Q3 2022$384.5MM$195.6MM
Equity CapitalQ3 2023vs Q3 2022$45.3MM$42.5MM
Loan Loss AllowanceQ3 2023vs Q3 2022$4.7MM$2MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$0$0
Real Estate OwnedQ3 2023vs Q3 2022$0$0
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Climate First Bank Money Market Rates

5.34%$50k$10mChoice Personal Money Market - New Money

Climate First Bank Checking Account Rates

5.34%--Choice Personal Checking Account

Climate First Bank CD Rates

5.34%$500-6 Month No-Penalty CD Special - New Money
5.34%$500-15 Month Flex CD Special - New Money
5.34%$500-Business 6 Month No-Penalty CD Special - New Money
5.34%$500-Business 15 Month Flex CD Special - New Money

Climate First Bank Locations
Climate First Bank5301 Central AveSaint Petersburg, FL 33710
Winter Park Branch1150 South Orlando AvenueWinter Park, FL 32789
Mount Dora Branch 2755 E Orange AvenueEustis, FL 32726

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