Modern Bank, National Association
Modern Bank, National Association is headquartered in NEW YORK and is the 61st largest bank in the state of New York. It is also the 1,318th largest bank in the nation. It was established in 1977 and as of March of 2025, it had grown to 43 employees at 2 locations. Modern Bank, National Association has a C health rating.
Thieves - Avoid At All Costs
Opened and deposited cash into a CD. Shortly thereafter, I was notified that my account was closed and my cash would be refunded, no explanation or reason was given. However, they never actually sent the funds back to my account. I contacted them directly and was again, given absolutely no explanation for the initial closing of the account. On top of this, they insisted they had sent back my funds and that I should take it up with my bank. Essentially, they advertised something, took my money, closed my account, never sent my money back to me, and then completely denied that hadn't sent the funds back and told me it was my fault/on me. In the process of contacting attorneys and law enforcement now. Don't make the same mistake as me and completely avoid these scam artists.
Fake Advertisement
As mentioned in another post, you fill up application and the message comes "They will contact you". This never happens!!!!
They Will Contact You.....
Fill up application and They will NEVER contact you.....
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 22398 |
| Year Established | 1977 |
| Employees | 43 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.82% |
| Return on Equity - YTD | -7.23% |
| Annual Interest Income | $10.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $744.3MM$964.3MM |
| Loans | Q1 2025vs Q1 2024 | $493.5MM$643.1MM |
| Deposits | Q1 2025vs Q1 2024 | $564.5MM$801MM |
| Equity Capital | Q1 2025vs Q1 2024 | $85.6MM$86.2MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $7.9MM$8.9MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $34.2MM$16.6MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |