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Still Early But So Far So Good
I've only had HY Savings (5.30% 07/05/24) account for less than 2 weeks and so far things are going well. Push/pull transfers initiating from my ext. checking took 2 business days for funding so thats a plus!
The website is very simple and straightforward.
So Far So Good
No issues setting up the account, its a little difficult to get used the process since once you register under the Peak Bank Website, you have to go the Parent Bank (Idaho First Bank) and create a new account, It sorta felt like I was creating an account with two different banks, However its the same bank, so once I Familiarized myself to the process, it was Cake. For questions, I simply reached out to the customer support thru Idaho First Bank and they where able to help me thru the process.
Rate Change???
Website says 5.33%. I open an account, look at it online and it says 5.23% rate. Website still says 5.33% What gives? Also, I do not see anywhere where you can add external accounts for transfers. Can they only be initiated externally???
Incredibly Rude And Unreasonable
The customer service department was incredibly rude and they canceled my application without explanation. Great way to turn away a new customer. There are plenty others banks which are more friendly with better rate!
Data as of Q2 2024
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 58095 |
| Year Established | 2005 |
| Employees | 82 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.95% |
| Return on Equity - YTD | 9.04% |
| Annual Interest Income | $20MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $667.1MM$623.1MM |
| Loans | Q2 2024vs Q2 2023 | $539.8MM$500.5MM |
| Deposits | Q2 2024vs Q2 2023 | $588.4MM$548MM |
| Equity Capital | Q2 2024vs Q2 2023 | $70.2MM$53MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $6.9MM$6.4MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $1.6MM$0 |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |