Northfield Bank


Overview / Commentary
718-448-1000
1731 Victory Boulevard
Staten Island, NY 10314

Northfield Bank is headquartered in Staten Island and is the 23rd largest bank in the state of New York. It is also the 229th largest bank in the nation. It was established in 1887 and as of December of 2019, it had grown to 369 employees at 38 locations. Northfield Bank has an A+ health rating.

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Reviews (5)

Interest Accrual And Payment

Posted by: |

This review is for Northfield's Platinum Savings -Online Only account, which bears interest at 2.25% APY as I write. Since becoming a customer, I've learned the following:

1) Interest is paid quarterly, not monthly as with most savings accounts
2) Interest is compounded daily on a balance that does NOT include the interest that continues to accrue throughout the quarter
3) Until the interest is paid, it is not available to you; therefore, if you close your account the day before the quarter's end, you forfeit that accrued interest.

All three points are not published anywhere - at least not anywhere that is easily accessible. Since I only recently opened my account and it remains open, I learned about the third point above while talking to a CSR.

I Cant Even Close My Account!

Posted by: |

Called them since i was ready to pull my money out for a purchase and they hung up on me 4 times and now just transfer me to voicemail??? Now wondering if i gave my money to a real bank!!! Beware!

Don't Waste Your Time: Insane Transfer Limits

Posted by: |

This savings account has insane transfer limits:

To Northfield Bank limits:
Per Transfer $5,000.00
Daily $5,000.00
Monthly $10,000.00

From Northfield Bank limits:
Per Transfer $2,000.00
Daily $2,000.00
Monthly $5,000.00

Cash Is No Longer King

I was raised with the advice "if you can't pay cash for it, you don't buy it", so I've never used credit cards. I just tried to open an online savings account with Northfield and was denied an account because I have insufficient credit history. It makes no sense to me to deny a deposit account for this reason. I understand credit history being a factor in granting a loan to an individual, but I was trying to deposit money with them, not get a loan. Credit history (or the lack thereof) should be irrelevant when applying for a deposit account. The customer service rep was very sweet and empathetic as she also has no credit history and has had a history of paying cash. Who would have ever thought that cash is no longer king!?

Update: I received a call from Northfield Bank 8/22 inviting me to submit an application again. The CSR explained they discontinued the credit history check for this deposit account. I just completed the online application and everything went smoothly and my account is open, awaiting the micro deposits. I applaud Northfield for realizing the error of their ways and reaching out to me.

PROPERTY MANAGER

Posted by: |

The veryfication process that the bank uses is terrible.
They would no open my account because I do not owe enough money.
Since I am wealthy I do not need to carry debt.
Not accurate either because my credit card balance last month wad $ 500 which I paid in full every month and according to their research I only owe $ 5.
Customer service not helpful either.
It just a hassle because their rate is not guarantee either.
Terrible experience.



Health
A+

Health Grade Components

Overall
FDIC Certificate #28710
Year Established1887
Employees369
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD6.35%
Annual Interest Income$165.1MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$5.06B$4.41B
LoansQ4 2019vs Q4 2018$3.41B$3.22B
DepositsQ4 2019vs Q4 2018$3.46B$3.33B
Equity CapitalQ4 2019vs Q4 2018$642.3MM$623.1MM
Loan Loss AllowanceQ4 2019vs Q4 2018$28.7MM$27.5MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$14.2MM$13.9MM
Real Estate OwnedQ4 2019vs Q4 2018$0$0
Rates

Rates for Northfield Bank are currently being reviewed.

Locations

Availability



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