ETHIC


Overview / Commentary
401-248-7320
125 High Street, 17th Floor
Boston, MA 02110

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.

Reviews (2)

Don't Take A Loan From Them.

Posted by: |

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.

Do Not Use This Bank

Posted by: |

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.



Health
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. ETHIC has a negative return on equity.

Health Grade Components

Overall
FDIC Certificate #27015
Year Established1967
Employees55
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-3.83%
Return on Equity - YTD-31.66%
Annual Interest Income$6.0MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$275.5MM$226.0MM
LoansQ2 2020vs Q2 2019$228.0MM$182.3MM
DepositsQ2 2020vs Q2 2019$220.3MM$171.0MM
Equity CapitalQ2 2020vs Q2 2019$27.4MM$37.4MM
Loan Loss AllowanceQ2 2020vs Q2 2019$2.1MM$1.7MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$242.00K$649.00K
Real Estate OwnedQ2 2020vs Q2 2019$0$0
Rates

Sorry, we do not have rate data for ETHIC.

Locations


ETHIC Locations
Bespoke Banking Center Providence Branch15 Park Row WestProvidence, RI 02903
Admirals Bank125 High StreetBoston, MA 02110

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