Ponce Bank is headquartered in Bronx and is the 44th largest bank in the state of New York. It is also the 666th largest bank in the nation. It was established in 1960 and as of March of 2022, it had grown to 225 employees at 14 locations. Ponce Bank's money market rates are 4X the national average, and it has an A health rating.
I have opened account with them using the website SaveBetter.com and I experienced no problems no issues just nice customer service reps!
I deposited $20,000 dollars split up between a savings account and a three month CD. Their rates are competitive with three month CDs at 0.25 percent interest. Their savings accounts have 0.10 percent interest. These rates are slightly better than the big name banks. Everyone in this bank is competent and caring. Their checking accounts are totally free with no strings attached in terms of fees. Again, this is better than what I have seen in other big name banks. My whole family does their banking with this bank because of the above. I wholeheartedly recommend this bank to anyone looking for a good local banking institution.
Very sketchy bank under the Savebetter platform. Really rude customer service. I'd be worried a lot depositing any money there. The fact they are offering high rates is kind of worrisome, if not suspicious. They are running without any supervision and they should be checked out by the authorities.
Overall | |
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FDIC Certificate # | 31189 |
Year Established | 1960 |
Employees | 225 |
Primary Regulator | OCC |
Profit Margin | |
---|---|
Return on Assets - YTD | -0.42% |
Return on Equity - YTD | -3.27% |
Annual Interest Income | $19.0MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q1 2022vs Q1 2021 | $1.59B$1.42B |
Loans | Q1 2022vs Q1 2021 | $1.31B$1.23B |
Deposits | Q1 2022vs Q1 2021 | $1.23B$1.15B |
Equity Capital | Q1 2022vs Q1 2021 | $244.3MM$144.9MM |
Loan Loss Allowance | Q1 2022vs Q1 2021 | $16.9MM$15.5MM |
Unbacked Noncurrent Loans | Q1 2022vs Q1 2021 | $16.0MM$13.6MM |
Real Estate Owned | Q1 2022vs Q1 2021 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Ponce Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.10% | - | - | Ponce Savings |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
1.75% | - | - | Money Market Deposit Account - via by SaveBetter | ||
0.20%* | $50k* | - | Money Market | ||
OTHER TIERS: 0.10% → Up to $1.5k | 0.15% → $1.5k - $50k |