FitnessBank

Deposits held and insured by Newton Federal Bank

Overview / Commentary
855-463-4825
400 Galleria Parkway SE Suite 900
Atlanta, GA 30339
Deposits held and insured by Newton Federal Bank
Reviews (2)

So Far So Good

Posted by: |

I signed up a month ago because the 2.75% rate was materially higher than other banks. The process was very easy to set up online and I was able to link my Fidelity, Vanguard and B&M bank accounts very easily. The website and App are efficient and easy to use.

The only caveat is that you need to average 12,500 steps per day over a month to earn the highest rate. The Bank has a separate App that syncs with your Fitbit, Apple Watch or other fitness tracker.

I am very pleased so far and I hope that Fitness Bank maintains its competitive rate advantage.

Why Is This Listed If No One Can Join?

Posted by: |

I'm a reasonably active person, so I bought a Fitbit to see if I average enough steps to net me a nice interest rate. I spent a week watching my steps and then went to open an account and discovered that sometime during that week the bank stopped taking on new customers.

So I spent north of $100 on the device and I can't open an account with the bank... Total gain: -$115.

That was about 6 weeks ago.



Health
A

Data as of Q4 2020

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

Health Grade Components

Overall
FDIC Certificate #29510
Year Established1928
Employees81
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.5%
Return on Equity - YTD4.79%
Annual Interest Income$26.7MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$853.0MM$319.2MM
LoansQ4 2020vs Q4 2019$591.8MM$248.0MM
DepositsQ4 2020vs Q4 2019$643.0MM$250.2MM
Equity CapitalQ4 2020vs Q4 2019$82.0MM$62.6MM
Loan Loss AllowanceQ4 2020vs Q4 2019$6.4MM$4.2MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$4.9MM$2.6MM
Real Estate OwnedQ4 2020vs Q4 2019$1.3MM$140.00K
Rates
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FitnessBank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$100$250kFitness Savings (12,500+ Steps)
0.65%$100$250kSenior Fitness Savings (10,000+ Steps)
0.55%$100$250kFitness Savings (10,000 - 12,499 Steps)
0.55%$100$250kSenior Fitness Savings (7,500 - 9,999 Steps)
0.45%$100$250kFitness Savings (7,500 - 9,999 Steps)
0.45%$100$250kSenior Fitness Savings (5,000 - 7,499 Steps)
0.35%$100$250kFitness Savings (5,000 - 7,499 Steps)
0.35%$100$250kSenior Fitness Savings (0 - 4,999 Steps)
0.25%$100$250kFitness Savings (0 - 4,999 Steps)
Locations

FitnessBank is an Internet only bank and does not have branch locations. Its headquarters is located at 400 Galleria Parkway SE Suite 900 - Atlanta, GA 30339

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