Limelight Bank is a new nationwide, online bank that Capital Community Bank (CCBank) launched in 2017. The Utah-based community bank has positioned Limelight as an eco-friendly alternative to traditional banking. Of course, all online banks are going to be “greener” than traditional, brick and mortar banks, as there is a reduced amount of paperwork involved, but Limelight takes it a step further by stating that “a portion of deposited funds will go towards solar energy initiatives.”
It will come as no surprise to those familiar with internet banks that Limelight offers very competitive rates; however, the product selection is limited. At launch, Limelight is offering only short-term CDs, with terms ranging from 6 to 18 months, but it will be worth watching to see if they expand their product offerings in the future.
While Limelight has been branded as new online bank, it’s worth noting that (at launch) they are not offering their own mobile app. Mobile banking is done through their parent company’s app.
Accounts at Limelight can be opened through the online application found on their website. Customers then have the option to fund their account(s) through electronic funds transfer (EFT), wire transfer, or check. Deposits in Limelight Bank are FDIC-insured under Capital Community Bank.
Terrible Customer Service
I am in England now and don't have my paperwork as to a CD I have with Limelight Bank. I have phoned the Limelight number in Utah REPEATEDLY to get this information, but all I get is a phone message saying the bank is experiencing a high volume of customer requests and that I should leave a phone message. That unhelpful message is followed by a message saying that the mailbox is full and can take no more messages. What kind of customer service is this? I would never bank with Limelight again and would not recommend the bank to anyone. Put your money elsewhere. If I ever get access to my funds again, believe me, they will go elsewhere.
Not The Best Experience Signing Up
So I signed up for a CD and they removed the money from my account. After not hearing about login info for weeks, I tried to call them. No answer to their customer service number on multiple occasions. Here is a tip, if customer service does not answer, call their parent bacn CCBank. They answered immediately and helped me very professionally. It turns out they send out documents to be signed and they go out from a company called Smartsign. my spam filter deleted it. I'm not surprised because it looks like it could easily be a phishing attempt (but it's not). So just be aware of that.
Good Rate, But SLOW
Recently opened a 12-month CD based on their quite high interest rates. While I'm very happy with the rate, the account opening process has been unacceptably slow relative to competitors. Money was debited out of my source account a couple days before the certificate with issued with an account number, and I've now been waiting an additional 3+ days for my enrollment in online banking to be processed. Some of the delay may be due to the recent Labor Day holiday, but I'm not very happy in any case. None of my other accounts have taken this long to open...
Good Rates, Customer Service
I haven't had the problems with Limelight that others refer to. Their website has always worked when I login and I don't have trouble accessing statements. They have some of the better CD rates and they currently have a 5 star rating with Bauer Financial. There have been a couple of instances that I needed something corrected. One CD I opened received a lower interest rate then what had been advertised at the time of application. They had lowered their rates the day after I applied and that was the rate showing on the CD, but when I asked about it they changed it back to the higher rate. And when I renewed a CD for a different term a typo caused the term to be wrong. That too was fixed. As with any bank you need to go over the details to be sure rates & terms are correct.
Data as of Q1 2025
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 33823 |
| Year Established | 1993 |
| Employees | 221 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 4.3% |
| Return on Equity - YTD | 31.14% |
| Annual Interest Income | $47MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $1.14B$911.5MM |
| Loans | Q1 2025vs Q1 2024 | $862MM$722.6MM |
| Deposits | Q1 2025vs Q1 2024 | $954.1MM$773.9MM |
| Equity Capital | Q1 2025vs Q1 2024 | $153.5MM$126.1MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $30.3MM$18.4MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $27.5MM$16.6MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |