Presidential Bank (MD) is headquartered in Bethesda and is the 16th largest bank in the state of Maryland. It is also the 1,348th largest bank in the nation. It was established in 1985 and as of December of 2018, it had grown to 277 employees at 10 locations. Presidential Bank (MD) has a B+ health rating.
We have banked with Presidential for nearly 20 years, and we have always been extremely pleased with their personalized service and commitment to security. They are certainly smaller, but they are extremely professional and their fees, interest rates, and account offerings are always superior to the larger banks and area competition.
Even though their interest rates are slightly less competitive of late (0,35 and 0,5% against Ally, etc that are offering 1%) they have some nice functionality - a fully fledged checking account, free bill pay and, best of all, no extra rip off charges when you use your ATM. Have been a customer for 10 years with never a problem - they were one of the pioneers of internet banking - and will remain so for the foreseeable future.
I've had Presidential for almost 6 years with no issues. As the other review points out, if you want a solid, no worries checking account, they are a good option. Their rates are consistently near the top. I've pulled money out at times when other banks were higher but always regretted it when the other bank soon dropped lower.
Don't be scared off by their website (I find it charming), this is a solid, well regarded bank with consistently high rates.
I wanted to draw attention to a bank that has treated me well for nearly twenty years -- Presidential Bank. They have long offered a Checking PLUS account with a consistently decent interest rate (currently 1%) for the first $25K on deposit (requires direct deposit and $1000 minimum balance to avoid fees). Don't be dissuaded by their website design, which has changed little since the advent of the internet; behind the unpromising facade is a bank with solid online features and impeccable customer service. One downside is that they only have ATMs in the MD/DC area; though they charge no fees for outside ATM usage, neither do they refund the fees that other banks charge. If you can work around that, the account offers just about everything you might need in a basic checking account, from the ability to write paper checks to online ACH transfers. Overall, a steady, reliable account that has served me well over the years.
I have banked at a Maryland branch for decades. Service was always great. Over the past couple years (as they became more of an online bank), their service has gone down hill. They are much more apt to charge nuisance fees.
Aside from the monthly account fee, they recently hit me up with an insufficient funds fee for an automatic bill pay I was unaware of. Because banks automatically retry transactions several times, they charged this fee 3 times (on the same ISF incident). The associated fees caused another payment to bounce, so they charged me more fees.
They refused to reverse ANY of these fees because they ONCE refunded a fee in my previous 20 years as a customer. My loyalty counted for absolutely nothing.
|FDIC Certificate #||32363|
|Return on Assets - YTD||0.49%|
|Return on Equity - YTD||4.45%|
|Annual Interest Income||$23.9MM|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$532.7MM$558.7MM|
|Loans||Q4 2018vs Q4 2017||$395.7MM$367.4MM|
|Deposits||Q4 2018vs Q4 2017||$464.5MM$490.8MM|
|Equity Capital||Q4 2018vs Q4 2017||$60.1MM$59.0MM|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$4.7MM$4.2MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$4.7MM$8.4MM|
|Real Estate Owned||Q4 2018vs Q4 2017||$1.1MM$2.0MM|
Rates for Presidential Bank (MD) are currently being reviewed.
|Presidential Bank (MD) Locations|
|1660 K Street Branch||1660 K Street||Washington, DC 20006|
|Presidential Bank, FSB||4520 East-West Highway||Bethesda, MD 20814|
|Rockville Branch||11640 Rockville Pike||Rockville, MD 20852|
|Reston Town Center||1675 Reston Pkwy||Reston, VA 20194|
|Arlington Branch||1515 Wilson Boulevard||Arlington, VA 22209|
|International Drive Branch||1861 International Dr Ste 3||Mclean, VA 22102|
|Leesburg Branch||21 Catoctin Cir Se||Leesburg, VA 20175|
|Mclean Branch||6707 Old Dominion Drive||Mclean, VA 22101|
|Arlington Branch||901 N. Stuart Street||Arlington, VA 22203|