New York Community Bank

Overview / Commentary
900 Merchants Concourse Suite 102
Westbury, NY 11590

New York Community Bank is headquartered in Hicksville and is the 6th largest bank in the state of New York. It is also the 46th largest bank in the nation. It was established in 1859 and as of September of 2020, it had grown to 2,751 employees at 240 locations. New York Community Bank has an A health rating.

Since The Start

Posted by: |

I come to NYCB via their acquisition of Penn Federal Savings. I only have a savings account but the bank has always been helpful. They refunded wire fees when it was clear I didn't know the policies etc. Branch folks are always very friendly whether in person or on phone. I started with PennFSB in 2000.

My New York Community Bank Experience.

I've been with NYCB for a couple of years in my youth. The bank doesn't have ridiculous stipulations and don't try to stiff their customers on things more well known banks are notorious for. Setting up a checking account is pretty easy and there are no minimums or large over draft fees as well as no ATM fees which is almost unheard of today. Savings accounts are average but they do have better features than other banks, such as a respectable minimum amount (Under $500) and their penalty fee is pretty low as well. While I do approve of the bank, one thing I will suggest if you go with this bank is to make sure you have one in your neighborhood. Branches are extremely sparse and it will become a headache if you need to actually go to the bank regularly. You'd think such a good bank would have a lot more branches available but high quality usually means low quantity unfortunately.

A couple of complaints

Posted by: |

So recently Ohio Savings changed it's automated system to commune with NY Community Bank. WHAT A NIGHTMARE. DEFINITELY not easy to navigate through the system! Then I made a purchase in another state and instead of calling me to make sure of the transactions, they FROZE my account WITHOUT ANY NOTIFICATION. Seriously? What another nightmare. Investigating other banking options after being a loyal customer for over 25 years.

The Worst Bank You Will Ever Find.

Posted by: |

Freezing accounts for no reason. Can't get a straight answer. The employees must be incompetent and indifferent to be hired. My money is coming out of there. Stay far away.



Health Grade Components

FDIC Certificate #16022
Year Established1859
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.86%
Return on Equity - YTD6.47%
Annual Interest Income$1.28B
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$54.91B$52.51B
LoansQ3 2020vs Q3 2019$42.76B$40.69B
DepositsQ3 2020vs Q3 2019$31.85B$31.75B
Equity CapitalQ3 2020vs Q3 2019$7.23B$7.16B
Loan Loss AllowanceQ3 2020vs Q3 2019$188.3MM$149.4MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$45.4MM$56.2MM
Real Estate OwnedQ3 2020vs Q3 2019$2.0MM$2.0MM
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New York Community Bank CD Rates

0.35%$500-7 Month CD
0.20%$2.5k-3 Month CD


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