Domestic Bank was founded in 1967 to provide a full line of exceptional services to businesses and consumers, borrowers and savers.
For over 40 years, they've grown by honoring a tradition of service, prudent lending and an overall conservative approach to finance. At the same time, they've expanded their services to offer comprehensive programs to meet the complete banking needs of their customers.
When they took over Domestic Bank we became stuck with them, We would send our mortgage payments overnight as a certified check ,certified mail with signature required. Admirals Bank takes excessive amounts of time to credit payments received in the mail. For example,someone would sign for our letter on the 4th at1012 am and our payment would get credited to our account on the 17th. Meanwhile late fees and interest keeps racking up. Once again, this month, we received a late payment letter 6 days after our payment was received. This is not an isolated incident. It has been happening 70% of the time since they took over our original lender.
I read good things about their walk-in banking services, I read about how they have a beautiful office but that does not make up for the incompetence of their loan servicing department. Maybe they are just a great place for cashing a check or opening a savings account. They really need to revamp how they process payments to them.
Very bad customer service. They closed my local branch and lied about opening a new one. They later closed my account with only 29 days notice and did not give me an extension when I asked for one to notify all my automatic depositers and payees. I never overdrew or did anything negative but they must have decided I was too small for them so they dropped me.
|FDIC Certificate #||27015|
|Return on Assets - YTD||-3.83%|
|Return on Equity - YTD||-31.66%|
|Annual Interest Income||$6.0MM|
|Assets and Liabilities|
|Assets||Q2 2020vs Q2 2019||$275.5MM$226.0MM|
|Loans||Q2 2020vs Q2 2019||$228.0MM$182.3MM|
|Deposits||Q2 2020vs Q2 2019||$220.3MM$171.0MM|
|Equity Capital||Q2 2020vs Q2 2019||$27.4MM$37.4MM|
|Loan Loss Allowance||Q2 2020vs Q2 2019||$2.1MM$1.7MM|
|Unbacked Noncurrent Loans||Q2 2020vs Q2 2019||$242.00K$649.00K|
|Real Estate Owned||Q2 2020vs Q2 2019||$0$0|
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|Bespoke Banking Center Providence Branch||15 Park Row West||Providence, RI 02903|
|Admirals Bank||125 High Street||Boston, MA 02110|