Hyperion Bank is headquartered in Philadelphia and is the 106th largest bank in the state of Pennsylvania. It is also the 2,504th largest bank in the nation. It was established in 2006 and as of September of 2021, it had grown to 38 employees at 2 locations. Hyperion Bank has an A health rating.
Related Posts
2/25 - Hyperion Bank Boosts 13-Month CD to 3.20% APY
2/14 - Hyperion Bank Offers Nationally Available 19-Month CD, 3.10% APY
6/4/10 - Hyperion Bank In Philly Cuts Reward Checking Rate To 2.965%
5/15/10 - Another Bank Enforcing High Debit Card Usage on Its Reward Checking Account
7/20/09 - 2.40% 13-Month CD at Hyperion Bank in Philadelphia - Local Only
5/17/09 - High-Yield Reward Checking Account at Hyperion Bank in Philadelphia
Haven't Signed Up But Here Is Why
Called them on the phone to get some info and it turned me away. First the person I spoke to seemed impatient as if they didn't want to deal with my questions about statements, funding, etc.
Seems to me they don't really want non-local people to buy CDs online. They do not accept ACH transfers for funding and told me "we won't open a CD or quote rates until we have the funds in hand".
I didn't even get into more questions because of the attitude of the CSR and lack of the usual easy way to find an account. Might be an OK bank, but not for me.
I Guess There Are Unwritten Rules For Membership
First let me write something positive about Hyperion Bank. When I called in, a real live, presumable native English speaking CSR (customer service representative) answered the phone on the second to third ring. That is something rare.
Earlier this year I applied for membership to Hyperion Bank. As you would expect the online application involved including very personal information like, name, address, SSN, birthday Mother's maiden name, drivers license number etc.
I applied late at night and my application was rejected by email under 8 hours later. No reason given. I called the next day to inquire why.
I was told by the CSR that I did not meet some criteria that a small bank like Hyperion needed to accept new applicants. What that criteria is.... I don't have a clue.
I have an over 800 credit score so that could not be the issue. Besides my credit reports were frozen at the big three credit reporting agencies so Hyperion bank could not run a credit report if they wanted.
Maybe they have a minimum income requirements... I but don't recall being asked my income on Hyperion Bank's online application.
Maybe they want locals only. Then Hyperion should stop the application once my address is deemed not local
Hyperion should be transparent about what their criteria is for applying for membership with their bank. I wasted my time applying to Hyperion because of some "secret criteria" I did not meet.
In the end I can help but wonder if I was illegally discriminated against.
Data as of Q3 2021
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 58371 |
| Year Established | 2006 |
| Employees | 38 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.89% |
| Return on Equity - YTD | 8.89% |
| Annual Interest Income | $9.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2021vs Q3 2020 | $299.9MM$244.4MM |
| Loans | Q3 2021vs Q3 2020 | $221.1MM$195.4MM |
| Deposits | Q3 2021vs Q3 2020 | $221.9MM$169.4MM |
| Equity Capital | Q3 2021vs Q3 2020 | $34.6MM$21.9MM |
| Loan Loss Allowance | Q3 2021vs Q3 2020 | $2.4MM$2.0MM |
| Unbacked Noncurrent Loans | Q3 2021vs Q3 2020 | $2.9MM$1.8MM |
| Real Estate Owned | Q3 2021vs Q3 2020 | $0$0 |