2. Northpointe Bank

Northpointe Bank

Popular Accounts at this Bank

APYACCOUNT TYPEHOW THEY COMPARE
2.70%5-year CD
2.27% - National Average
1.75%3-year CD
1.87% - National Average
2.30%Money Market
0.39% - National Average
View all Northpointe Bank rates »

Overview / Commentary
www.northpointe.com
888-672-5626
3333 Deposit Drive NE
Grand Rapids, MI 49546

Northpointe Bank is headquartered in Grand Rapids and is the 13th largest bank in the state of Michigan. It is also the 617th largest bank in the nation. It was established in 1999 and as of December of 2018, it had grown to 711 employees at 1 location. Northpointe Bank's money market rates are 5X the national average, and it has an A health rating.

Related Posts

60+ Months Special For CD And IRA - 3.6% APY - 11/25/2018

Minimum $1k to open https://www.northpointe.com/banking/rates/

Northpointe Bank Boosts Ultimate Money Market Rate - 11/6/2018

Northpointe Bank has upped the rate on its nationally available Ultimate Money Market to 2.30% APY on balances between $25k and $1m. 12-month rate guarantee.

Ultimate Savings Rate Increase For Jumbo Deposits - 10/23/2018

I just learned from a CSR today that Savings rate will increase from 2.03% to 2.30% guaranteed for 12 months for balances of $100K + Note that this rate increase may only apply to current account holders. Also good to know that the bank does not charge for incoming wire deposits and accrued interest is not forfeited if withdrawals are made prior to the posting date.

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Reviews (35)

Excellent Banking Experience

Posted by: filtar | Feb 1, 2019

I have used numerous banks in the past, both internet and bricks & mortar. Northpointe has renewed my faith in customer service. They are so easy to do business with. Everyone I have been associated with there have been above & beyond in professional customer service. I am so thankful that there is still a bricks & mortar bank that offers competitive rates and outstanding customer service. Keep up the excellent performance.

4

Overall Grade… B -

Posted by: redfarm | Nov 11, 2018

Opening the Ultimate Money Market Account was easy.

Setting up the bill pay was swift.

Interest rate is relatively high.

The ACH fund transfer speed between banks originating with Northpointe is slow – three days when many banks routinely carry it out in one day.

Customer Service is poor – once logged-in it’s impossible to find a method to contact it. On the bank’s home page there’s a ‘contact your expert’ link – used it to send an email which was never acknowledged or answered.

24

For A Bank, It's Hard To Get Them Money

Posted by: bumrocky | Nov 27, 2018

I opened an account when their interest rate was 1.50%. I quickly found out it was difficult to get them the money. You have to "push" the money to the account from your other bank. They will not do an ACH between accounts. The browser interface was old, lacking features and didn't show much information. Their mobile offering was the same as my credit union, just rebadged, so I was used to working with it. The mobile app was pretty decent, and made it easy to deposit checks electronically. The biggest issue is when rates go up, your account is locked in. I closed the account when it got to 1.85% and my account was still stuck at 1.50%. I won't be coming back. There are easier/better banks to deal with.

10

Account Opening Process Is ARCHAIC!

Posted by: pwj7050 | May 16, 2018

I opened the 2.05% APY Ultimate Savings account yesterday at which time the maximum initial funding limit via an ACH pull into Northpointe is $1,000 I believe. I assumed that once the account was opened I could pull additional funds into the account by setting up the funding account as an "external account" with Northpointe.

Well, you know what happens when you assume! Northpointe does not provide that functionality. The only options are sending in a check, wire the money to Northpointe or ACH the money from the funding account. I bank with Wells Fargo and like all other banks I can think of they have very LOW $ limits on what they allow their customers to ACH OUT of their accounts.

The bottom line is I just closed the Northpointe account the day after I opened it because of their antiquated policies.

Since the 2.05% rate is only available on balances over $25k and they restrict the opening deposit that they do fund via ACH, the customer is forced to either fund by check or wire transfer. An ACH push out of Wells is not an option due to Wells' low $ limits.

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Health
A

Data as of Q4 2018

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #34953
Year Established1999
Employees711
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.19%
Return on Equity - YTD24.91%
Annual Interest Income$47.1MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$1.28B$827.6MM
LoansQ4 2018vs Q4 2017$1.13B$715.8MM
DepositsQ4 2018vs Q4 2017$931.1MM$600.1MM
Equity CapitalQ4 2018vs Q4 2017$105.5MM$76.8MM
Loan Loss AllowanceQ4 2018vs Q4 2017$4.4MM$3.9MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$4.5MM$3.3MM
Real Estate OwnedQ4 2018vs Q4 2017$445.00K$667.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Northpointe Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.95%*$25k*$1mUltimate Savings
OTHER TIERS: 1.12% → Any amount
1.50%*-$1kKid's Savings
OTHER TIERS: 1.11% → $1k+
0.50%--Health Savings Account

Northpointe Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.30%*$25k*$1mUltimate Money Market
OTHER TIERS: 0.20% → Up to $2.5k | 0.25% → $2.5k - $25k | 0.50% → $1m+
1.50%*$25k*$1mIRA - Ultimate Money Market
OTHER TIERS: 0.20% → Up to $2.5k | 0.25% → $2.5k - $25k | 0.50% → $1m+
0.50%*$100k*-Business Money Market Account
OTHER TIERS: 0.20% → Up to $2.5k | 0.25% → $2.5k - $25k | 0.40% → $25k - $100k

Northpointe Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$100k*-Interest Checking
OTHER TIERS: 0.15% → $2.5k - $25k | 0.25% → $25k - $100k
0.10%--Business Now

Northpointe Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.70%$1k-60 Month CD
2.50%$1k-35 Month CD Special
2.30%$1k-19 Month CD Special
2.25%$1k-48 - 59 Month CD
2.10%$1k-24 - 29 Month CD
2.05%$1k-18 - 23 Month CD
2.00%$1k-12 - 17 Month CD
1.75%$1k-36 - 47 Month CD
1.65%$1k-30 - 35 Month CD
1.00%$1k-6 - 11 Month CD
0.90%$1k-92 - 182 Day CD
0.30%$1k-7 - 91 Day CD
Locations


Northpointe Bank Locations
Northpointe Bank3333 Deposit Drive NeGrand Rapids, MI 49546

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