Porte

Deposits held and insured by MetaBank

Overview / Commentary
800-267-7080
5501 South Broadband Lane
Sioux Falls, SD 57108
Deposits held and insured by MetaBank

Related Posts

Porte Banking Offers Unique High Yield Savings Account - 4/19/2021

Porte is a brand of the financial technology company (fintech) Populus Financial Group that has partnered with MetaBank to offer unique checking and savings accounts.

Porte 3% Savings Account On Balances <$15K - 4/14/2021

.Porte is a fintech. Deposits are held by MetaBank and insured up to $250k. In order to open the savings acct, you first must download the app to open a Porte acct and receive a monthly DD of at least $1k. You can then open a savings acct and transfer funds to it. You receive 3.00% on balances up to $15k, and 0.50% on any portion of your balance which exceeds $15k. Since the 3% is only paid on balances <$15k and since downloading an app is required, I think this acct is mainly aimed at millennials, and I'm a boomer, so I'll pass on this one. Nonetheless, it's a savings acct that pays a rewards checking acct rate without any debit card usage requirements. https://www.portebanking.com/savings-account/

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Health
A+

Data as of Q4 2020

Data displayed below is for insuring bank: MetaBank
Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #30776
Year Established1954
Employees1038
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.67%
Return on Equity - YTD12.52%
Annual Interest Income$289.2MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$7.27B$6.19B
LoansQ4 2020vs Q4 2019$3.51B$3.82B
DepositsQ4 2020vs Q4 2019$6.21B$4.81B
Equity CapitalQ4 2020vs Q4 2019$900.2MM$928.9MM
Loan Loss AllowanceQ4 2020vs Q4 2019$72.4MM$30.2MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$41.9MM$24.0MM
Real Estate OwnedQ4 2020vs Q4 2019$0$0
Rates
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Porte Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*-$15kSavings Account
OTHER TIERS: 0.50% $15k+
Locations

Porte is an Internet only bank and does not have branch locations. Its headquarters is located at 5501 South Broadband Lane - Sioux Falls, SD 57108

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