New York Community Bank is headquartered in Hicksville and is the 6th largest bank in the state of New York. It is also the 45th largest bank in the nation. It was established in 1859 and as of December of 2020, it had grown to 2,783 employees at 240 locations. New York Community Bank has an A+ health rating.
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.
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.
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.
|FDIC Certificate #||16022|
|Return on Assets - YTD||1%|
|Return on Equity - YTD||7.6%|
|Annual Interest Income||$1.71B|
|Assets and Liabilities|
|Assets||Q4 2020vs Q4 2019||$56.28B$53.62B|
|Loans||Q4 2020vs Q4 2019||$42.81B$41.75B|
|Deposits||Q4 2020vs Q4 2019||$32.59B$31.84B|
|Equity Capital||Q4 2020vs Q4 2019||$7.33B$7.17B|
|Loan Loss Allowance||Q4 2020vs Q4 2019||$194.0MM$147.6MM|
|Unbacked Noncurrent Loans||Q4 2020vs Q4 2019||$37.8MM$61.2MM|
|Real Estate Owned||Q4 2020vs Q4 2019||$1.8MM$2.0MM|
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The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|0.35%||$500||-||7 Month CD|
|0.20%||$2.5k||-||3 Month CD|