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Not so great
I decided to open a checking account with this bank after reading that they pay much more than interest on savings than average banks. I figured, might as well make something each month on my checking account. It is an online only bank, so you won't find any branches. The first thing I noticed was how long it took for my funds to be deposited into the account. It took almost a week, and almost another for them to become available. After trying to contact the customer service a few times and receiving no response whatsoever, I tried withdrawing the $100 I had put it back into my other account to pay something off. The funds took over a week to be withdrawn from the account into my other account. Again, customer service simply didn't respond to my concerns. I would not recommend this bank as they seem shady, although they are certified, have poor customer service, and absolutely horrid fund pending times.
Worst Bank EVER
This has been the worst banking experience ever....It took way too long to get the money transferred in... then no access to my money for more than 10 days....customer service is horrible.... they don't seem to care about my concerns... simply awful bank...DO NOT USE THIS BANK !!!! I WOULD GIVE THEM NO STARS FOR A RATING IF IT WAS POSSIBLE...
Data as of Q1 2023
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 58037 |
| Year Established | 2005 |
| Employees | 10 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.74% |
| Return on Equity - YTD | 12.41% |
| Annual Interest Income | $1.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $109.0MM$137.4MM |
| Loans | Q1 2023vs Q1 2022 | $79.1MM$85.7MM |
| Deposits | Q1 2023vs Q1 2022 | $87.4MM$116.8MM |
| Equity Capital | Q1 2023vs Q1 2022 | $15.9MM$14.1MM |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $1.9MM$1.9MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $0$0 |
| Real Estate Owned | Q1 2023vs Q1 2022 | $0$0 |