Poppy Bank is headquartered in SANTA ROSA and is the 21st largest bank in the state of California. It is also the 246th largest bank in the nation. It was established in 2005 and as of March of 2023, it had grown to 197 employees at 21 locations. Poppy Bank's CD rates are 6X the national average, and it has an A health rating.
Great Experience Opening Savings Account
Not sure what all the bad reviews are for PB is a Really Good bank to bank with they have Great rates on there savings & CD accounts 5%, went inside the branch in Roseville CA and had a wonderful experience customer service rep was Great explained Everything as well as the branch manager came over and introduced himself Great Guy!! I would recommend this bank to all of my friends and family!
Best Bank Ever
Poppy Bank opened up at a Safeway grocery store near my job over 3 years ago. They have consistently had the best savings and CD rates over any bank I have used. I have banked at Bank of the West, US Bank, Chase and more. The current CD rates are at 4% for 6,9 or 12 months which is the best in my area in California. The rates are so good that you need an appointment to open an account at some of their branches because so many people were flocking to their bank to open an account. I also have a liquid savings account that pays 3%. All these great rates are awesome considering the stock and crypto markets going down. You will never lose you initial deposit with a savings or CD. Give the bank a try you will be happy. Service is always friendly and helpful.
Savings Interest 1%
I have been Poppy Bank client for # of years. They advertise locally as a business bank, altho my savings & checking accounts are personal. My savings has been .5%, but when I went in to branch last week & asked if they were going to raise it- they did. It's now 1%.
Not sure if based on balance, but worth research, especially for those in area of branches.
I see comments about poor phone & online service. Branch service has always been A+. No problems with my online or app, altho they did lower max mobile deposits recently.
Great Rate, But ...
After approval process, verifying trial deposits and $ withdrawn from external bank, the bank cancelled my CD and redeposited the funds. No calls / no emails. Apparently bank overwhelmed and mgmt cancelled the online CD applications as of 12/30.
Data as of Q1 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57903 |
| Year Established | 2005 |
| Employees | 197 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.02% |
| Return on Equity - YTD | 11.94% |
| Annual Interest Income | $70.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $5.92B$4.28B |
| Loans | Q1 2023vs Q1 2022 | $3.64B$2.54B |
| Deposits | Q1 2023vs Q1 2022 | $4.45B$3.69B |
| Equity Capital | Q1 2023vs Q1 2022 | $490.1MM$369.4MM |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $86.6MM$87.0MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $38.2MM$52.3MM |
| Real Estate Owned | Q1 2023vs Q1 2022 | $11.0MM$0 |
