Open Bank


Overview / Commentary
213-892-9999
1000 Wilshire Blvd, Suite 500
Los Angeles, CA 90017

Open Bank is headquartered in LOS ANGELES and is the 38th largest bank in the state of California. It is also the 520th largest bank in the nation. It was established in 2005 and as of June of 2024, it had grown to 224 employees at 16 locations. Open Bank has an A health rating.

Reviews (3)

OUTSTANDING Second Bank!

Posted by: |

I've been with Open Bank for a little over a month now. At first was very cautious as you can use either your computer or cell phone but you MUST verify your use with your cell phone. Got the hang of it now and simply use my cell phone as it is quick, easy, and accurate. I use it as my back up bank to Poppy as it is simple to move money back and forth between the two. Would highly recommend Open Bank as your back up as it currently pays 5% interest which is right at the top currently. No problems at all and they are easy to join and navigate.

Just Joined Today, So Far So Good.

Posted by: |

Easy to join, but they are cellphone oriented on a lot of things. Not a problem and they allowed my daughter as joint owner in minutes. Funding the account now, they advertise 5.25%.

Not An Account Holder Because....

Posted by: |

I looked into opening an account. You must use their App, and you must enable face or fingerprint biometrics. I'm ambivalent about the App, but I don't want to participate in facial recognition or fingerprint capture. For .25% greater yield, I'll pass.



Health

Health Grade Components

Overall
FDIC Certificate #57944
Year Established2005
Employees224
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.99%
Return on Equity - YTD11.39%
Annual Interest Income$67.3MM
Assets and Liabilities
AssetsQ2 2024vs Q2 2023$2.29B$2.15B
LoansQ2 2024vs Q2 2023$1.85B$1.7B
DepositsQ2 2024vs Q2 2023$1.94B$1.86B
Equity CapitalQ2 2024vs Q2 2023$195.6MM$181.7MM
Loan Loss AllowanceQ2 2024vs Q2 2023$22.8MM$20.8MM
Unbacked Noncurrent LoansQ2 2024vs Q2 2023$6MM$3.4MM
Real Estate OwnedQ2 2024vs Q2 2023$1.2MM$0
Rates

Sorry, we do not have rate data for Open Bank.

Locations


Cities: Buena Park, Carrollton, Cerritos, Gardena, Los Angeles, Santa Clara

Buena Park Branches
Buena Park (Fullerton) Branch5141 Beach BlvdBuena Park, CA 90621

Carrollton Branches
Carrollton Branch2540 Old Denton Rd 314Carrollton, TX 75006

Cerritos Branches
Cerritos Office Branch11811 South StreetCerritos, CA 90703

Gardena Branches
Gardena Branch15435 S. Western Avenue, #dGardena, CA 90249

Los Angeles Branches
Open Bank1000 Wilshire BlvdLos Angeles, CA 90017
Aroma Center Bank3680 Wilshire Blvd., Suite 101Los Angeles, CA 90010
Fashion District Branch747 E. 10th Street, #310 & 311Los Angeles, CA 90021
Olympic Branch3030 W. Olympic Blvd, Suite 101Los Angeles, CA 90006
Western Branch550 South Western AvenueLos Angeles, CA 90020

Santa Clara Branches
Santa Clara Office2998 East El Camino RealSanta Clara, CA 95051

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