Cross River Bank

PPP Mvps! Helping The Small Business Owners During Tough Times

Posted by: |

This bank was a savior for me. I am a small business owner and the bank that I had my business account with (Great Western Bank) turned me away after day 3 of the PPP loan application process being open in 2020. I would have been absolutely out of luck if Cross River didn't offer these services to out-of-network customers like myself. I had never heard of this bank before but they were absolutely incredible at handling my PPP loan and forgiveness. I cannot thank them enough. I opened an account on this website just to write this review; that's how thankful I am. TRUE MVP's! Thank you for helping this small business owner!

Frustration Experts

Posted by: |

Stay away from this place. Overly complicated in putting in getting out ur money.


Posted by: |

I applied for a PPP loan at Cross River and my application was approved. However, there was some trouble transferring the funds to my bank account. There was no way to access my application to even see what the problem was. And since there is basically NO customer service, there was no way to correct the error. There's no phone number to call so I wrote in multiple times via email. Finally after a few weeks someone responded with no helpful information. I kept responding to try and get some actual help but no response - until weeks later to tell me they cancelled it. Now I'm screwed and can't get a PPP loan that my business desperately needs.

Great With PPP Would Try Them For Savings

Posted by: |

Cross River did a great and speedy job processing my PPP, my friend had a great experience too. Based on this I would give them a shot for banking.



Data as of Q1 2021

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.
Learn why bank health matters

Health Grade Components

FDIC Certificate #58410
Year Established2008
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.18%
Return on Equity - YTD61.13%
Annual Interest Income$111.8MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$13.48B$2.53B
LoansQ1 2021vs Q1 2020$12.39B$1.86B
DepositsQ1 2021vs Q1 2020$4.73B$1.91B
Equity CapitalQ1 2021vs Q1 2020$444.4MM$248.9MM
Loan Loss AllowanceQ1 2021vs Q1 2020$28.0MM$55.8MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$19.3MM$11.1MM
Real Estate OwnedQ1 2021vs Q1 2020$0$0
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Cross River Bank Savings Account Rates

0.51%--I Connect Savings
0.51%--Prestige Business Tiered Savings
0.51%--E Connect Savings
0.51%--I Connect Select Savings
0.51%--E Connect Select Savings

Cross River Bank Money Market Rates

0.25%--Money Market Account
0.25%--E Money Market Account
0.07%--Business Prestige Money Market Checking

Cross River Bank Checking Account Rates

0.10%--I Connect Select Checking
0.10%--Attorney Trust Escrow
0.10%--E Connect Select Checking
0.07%--NJ IOLTA Checking

Cross River Bank CD Rates

0.40%$500-48 Month CD
0.40%$500-Business 48 Month CD
0.35%$500-36 Month CD
0.35%$500-Business 36 Month CD
0.30%$500-24 Month CD
0.30%$500-Business 24 Month CD
0.25%$500-18 Month CD
0.25%$500-Business 18 Month CD
0.20%$500-12 Month CD
0.20%$500-Business 12 Month CD
0.15%$500-6 Month CD
0.15%$500-9 Month CD
0.15%$500-Business 6 Month CD
0.15%$500-Business 9 Month CD
0.10%$500-3 Month CD
0.10%$500-Business 3 Month CD

Cross River Bank Locations
Cross River Bank885 Teaneck RoadTeaneck, NJ 07666
Brooklyn Branch Office2365 Nostrand AvenueBrooklyn, NY 11210

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