My eBanc is the 304th largest bank in the nation. It was established in 1973 and as of June of 2024, it had grown to 248 employees. My eBanc's money market rates are 9X the national average, and it boasts an A+ health rating.
Related Posts
10/27 - My eBanc Boosts 6-Month Jumbo CD APY To Rate-Leading Level
9/18 - My eBanc 12-Month Jumbo CD APY Nears Rate-Leading Status
12/15 - My Ebanc 4.18% APY Savings & MMA
12/3 - My eBanc SuperSaver Money Market Account Is New Rate Leader
8/16 - My eBanc Boosts Nationally Available 36-Month CD Rate
3/6/20 - Rate Drops - Highest Rate Now 1.75% APY
11/9/19 - My eBanc 11-Month Flex Time Deposit New No-Penalty CD Rate Leader
3/8/19 - My eBanc Ups Super Saver Money Market To 2.25% APY
10/3/18 - 2% APY Savings Acct - But Most Hold CD To Qualify
4/12/18 - My eBanc Ups 12-month Online Time Deposit Rate
2/13/18 - My Ebanc 2.05% APY For 12 Months
2/3/18 - My Ebanc Raises CD Rates Across All Terms (E.G, 2.05% APY For 12 Mos)
1/10/18 - My eBanc Hikes Rate On Super Saver MMA
11/22/17 - My eBanc Boosts 12-Month Jumbo Online Time Deposit
7/28/17 - My e-BAnC's 12-Month Flex Time Deposit Has 2 Penalty-Free Withdrawals
6/15/17 - My e-BAnC Increases Super Saver Rate
3/31/17 - My e-BAnC Raises Jumbo Time Deposit Rates
2/26/17 - My e-BAnC Adds Super Saver and Ups 12-Month CD Rates
12/5/15 - My e-BAnC by BAC Florida Bank Increases Rates On 12-Month CD
12/5/14 - BAC Florida Bank Raises Rate On 12-month CD - Nationally Available
5/22/14 - Top Internet Jumbo CD Rates at BAC Florida Bank
Solid Bank
www.myebanc.com is the online bank for US RESIDENTS of the https://bradescobank.com/en/ and is FDIC insured under the bradescobank. Both pages are linked together that is a good thing. If you go to their myebanc page directly, then you should use the full address with www, as it looks like that they have some issues with redirecting pages. As of Q1 2024, myebanc has a deposit account ratings of A+. It has a solid balance sheet, not only their Texas Ratio is low as 1.18% but also if you include “delinquencies” blow 90 days it gives them a Texas Ratio of 3.12%, that is very good. Additionally their Commercial Real Estate Exposure to their total equity capital and allowance for loan and lease losses is about 41%. Any bank with a CRE exposure above 300% is considered risky. Additional reports can be generated from fdic.gov page. Additionally to these good ratings myebanc has relatively high CD rates. At the time I opened a 6 month cd it was 5.51% APY. They call their CDs TIME DEPOSIT that is FDIC insured. However, they pay the interest at maturity for all their CD products no mater of terms.
Their opening account is not 100% online. It starts with applying online that includes applying for the product you want, and fill a questionary that requires more information than usually is required. It also asked for how the interest should be compounded and payed, I found that odd as interest is compounded daily and can be paid at the maturity, anyway I chose compound daily and as how to pay the interest I chose compound that I believe it means the cd will be extended at maturity date. However, before the maturity or during grace period you can request to pay your interest and principle at maturity. Once your application is “temporarily” approved you can only check your application status but not create a real account. In second step you need to download, sign and upload a document signature that include also your cd account number. You also need to verify your ACH deposit if you chose to use ACH. You supposedly, after couple days, should get a welcome email instruction on how to create the actual CD account that involves clicking on first login option provide your email and etc… I believe they will not permanently approve you application and send you the welcome email until the funds are withdrawn from your original bank. I believe they use some sort of intermediary account to withdraw the funds via ach, at least that is what I saw in my original bank transaction. As I saw the funds are withdrawn I called my both banks for clarification and I asked myebanc to send my welcome emails so that I can create my actual myebanc account, that they did within 10 minutes. All together it took me 4 business days to complete a successful application. They are very responsive via email or phone within their Eastern office time.
They Kept Their Word
There are not that many reviews on this bank and most date back 5+ years. I contacted them on a Friday afternoon in December 2022 regarding a 2 year CD paying just over 5% that I had a feeling was not going to last and it did not. It was gone as quick as it came but I was assured that since I contacted them and began the process they would honor the rate. On December 27 the account was finally open at the rate that Ericka in Customer Service had promised. Thanks Ericka and MY Ebanc and thanks to Ken and this website.
Are They Out Of Business?
Can't get a hold of customer service by phone or messaging!
Superb Bank
Been with this bank for about 10 years now. They offer excellent rates and even better customer service. Hugo is always very attentive and makes every effort to cater to my needs. Since I use this bank mainly to park funds long term I cannot comment on day to day banking experiences here but the few times I have had to take care of minor banking issues it has been taken care of immediately. I do wish they had a more user friendly website though! My only negative feedback would be that one is only allowed to withdraw $10K per day/$30Kpm online or pay $40 for a wire transfer. But I will live with it since I really like and trust this bank!
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 21265 |
| Year Established | 1973 |
| Employees | 248 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.74% |
| Return on Equity - YTD | 6.46% |
| Annual Interest Income | $119.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $4.37B$3.7B |
| Loans | Q2 2024vs Q2 2023 | $3.39B$2.82B |
| Deposits | Q2 2024vs Q2 2023 | $3.71B$2.92B |
| Equity Capital | Q2 2024vs Q2 2023 | $502.6MM$471.3MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $34MM$31.9MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $5.7MM$2.7MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |