Climate First Bank is headquartered in SAINT PETERSBURG and is the 35th largest bank in the state of Florida. It is also the 1,176th largest bank in the nation. It was established in 2021 and as of September of 2024, it had grown to 87 employees at 3 locations. Climate First Bank's money market rates are 10X the national average, and it has an A health rating.
Related Posts
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.
Data as of Q3 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 59257 |
| Year Established | 2021 |
| Employees | 87 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.29% |
| Return on Equity - YTD | 3.28% |
| Annual Interest Income | $33.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $858.1MM$464.3MM |
| Loans | Q3 2024vs Q3 2023 | $695.1MM$390.8MM |
| Deposits | Q3 2024vs Q3 2023 | $781.9MM$384.5MM |
| Equity Capital | Q3 2024vs Q3 2023 | $72.5MM$45.3MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $7.3MM$4.7MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $0$0 |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |