Modern Bank, National Association

Modern Bank, National Association


Overview / Commentary
212-323-1100
410 Park Avenue, Suite 830
New York, NY 10022

Modern Bank, National Association is headquartered in NEW YORK and is the 56th largest bank in the state of New York. It is also the 1,065th largest bank in the nation. It was established in 1977 and as of December of 2023, it had grown to 49 employees at 1 location. Modern Bank, National Association's money market rates are 12X the national average, and it has a B+ health rating.

Reviews (4)

Very Competitive

Posted by: |

Competitive CD, and easy online

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

Posted by: |

As mentioned in another post, you fill up application and the message comes "They will contact you". This never happens!!!!

They Will Contact You.....

Posted by: |

Fill up application and They will NEVER contact you.....



Health
B+

Health Grade Components

Overall
FDIC Certificate #22398
Year Established1977
Employees49
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.33%
Return on Equity - YTD3.26%
Annual Interest Income$55MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$947.9MM$788MM
LoansQ4 2023vs Q4 2022$662MM$615.2MM
DepositsQ4 2023vs Q4 2022$781.4MM$604.8MM
Equity CapitalQ4 2023vs Q4 2022$85.7MM$85.4MM
Loan Loss AllowanceQ4 2023vs Q4 2022$8.7MM$8.4MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$14.1MM$10.1MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Rates
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Modern Bank, National Association Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.20%$100k-High Yield Money Market Accounts

Modern Bank, National Association CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.30%$10k-3 Month CD
5.25%$10k-6 Month CD
5.15%$10k-12 Month CD
4.60%$10k-18 Month CD
4.00%$10k-24 Month CD
Locations


Modern Bank, National Association Locations
Modern Bank, National Association410 Park AveNew York, NY 10022

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