Discover Bank
Headquarters
502 E Market St
Greenwood, DE 19950
See all branch locations →
ACH 031100649
Phone 800 347 2683
2024 Overview
General Bank Information
Discover Bank is an FDIC insured institution located in Greenwood, DE. It was founded in 1911 and has approximately $149.35 billion in assets. Customers can open an account at one of its 2 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 5649 |
| Date Established | 1911 |
| Assets | $ 149.35 billion |
| Loans | $ 119.13 billion |
| Deposits | $ 112.62 billion |
| Capital | $ 12.79 billion |
For a more detailed analysis of Discover Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 25, 2024
Your Current Location: Ohio, OH 43085
Online Only Savings Rates of Discover Bank
| Online Savings Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Online Savings Account
|
4.25% | $0 | - |
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|
Online Only CD Rates of Discover Bank
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 3 Month CD
|
2.00% | $2,500 | - |
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|
| 6 Month CD
|
4.25% | $2,500 | - |
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|
| 9 Month CD
|
4.25% | $2,500 | - |
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|
| 12 Month CD
|
4.70% | $2,500 | - |
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|
| 18 Month CD
|
4.40% | $2,500 | - |
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|
| 24 Month CD
|
4.00% | $2,500 | - |
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|
| 36 Month CD
|
3.75% | $2,500 | - |
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|
| 48 Month CD
|
3.75% | $2,500 | - |
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|
| 60 Month CD
|
3.75% | $2,500 | - |
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|
Bank Online Offers
Discover Bank Lowers Online Savings Rate to 1.25% APY
May 14, 2020
Discover Bank has lowered its online savings rate from 1.40% APY to 1.25% APY this morning.
Discover Bank's Online Savings Rate is Now 1.15% APY
May 26, 2020
Discover Bank's online savings rate is now 1.15% APY.
Discover Bank Raises Its Online Savings Account Rate to 4.15% APY
Jun 22, 2023
Discover has raised its OSA to 4.15% APY this morning from 4.00%.
Discover Bank Raises Its Online 1-Year CD Rate to 5.00% APY
Sep 21, 2023
Discover Bank's Online 1-Year CD Rate is Now 5.20% APY
Oct 31, 2023
Discover recenrtly raised their 1-year CD rate from 5.00% to 5.20% APY
Loan Rates - April 25, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Discover Bank
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 1835285 |
6.710% |
6.625% 0.88 points $2,806 fees |
$2,049 | Learn More |
NMLS ID: 2059741 |
7.018% |
6.875% 0.88 points $4,672 fees |
$2,103 | Learn More |
NMLS ID: 3030 |
7.476% |
7.375% 1.00 points $3,200 fees |
$2,211 | Learn More |
NMLS ID: Not a Lender |
points fees |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Discover Bank
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Branches
Discover Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
Discover Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
Discover Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Discover Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| Discover Bank | U.S. Bank Average |
|---|---|
| 10.24% | 3.96% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of December 31, 2024, Discover Bank had $2,259,657,000 in non-current loans and $345,000 in owned real estate. To cover these potential losses it had $12,791,099,000 in equity and $9,283,000,000 in loans loss reserves. That gives it a Texas Ratio of 10.24%.
Return on Equity
| Discover Bank | U.S. Bank Average |
|---|---|
| 21.98% | 12.20% |
Discover Bank has a Return on Equity of 21.98% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| Discover Bank | U.S. Bank Average |
|---|---|
| 8.56% | 10.76% |
Discover Bank has a Capitalization of 8.56% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Discover Bank Balance Sheet Analysis
As of December 31, 2023, Discover Bank had assets of $149,353,230,000, loans of $119,129,817,000, and deposits of $112,624,604,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
December 31, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 11.26 billion |
| Interest-bearing balances | $ 9.33 billion |
| Total securities | $ 13.70 billion |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 119.13 billion |
| Loan loss allowance | $ 9.28 billion |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 0.35 million |
| Goodwill and other intangibles | N.A. |
| All other assets | $ 3.28 billion |
| Total Assets | $ 136.56 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 112.62 billion |
| Interest-bearing deposits | $ 111.00 billion |
| Deposits held in domestic offices | $ 112.62 billion |
| % insured (estimated) | 93.77% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 16.25 billion |
| Subordinated debt | $ 1,750.00 million |
| All other liabilities | $ 3.91 billion |
| Total Liabilities | $ 136.56 billion |
| Shareholders’ Equity | $ 12.79 billion |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 18.43 billion |
| Total Interest Expense | $ 4.67 billion |
| Net interest income | $ 13.77 billion |
| Provision for loan and lease losses | $ 6.02 billion |
| Total non interest income | $ 1,051.12 million |
| Total non interest expense | $ 5.33 billion |
| Pre-tax Net Operating Income | $ 3.07 billion |
Bank Loan Profile?
The top three loan types in Discover Bank’s loan portfolio are Credit Card Loans, 1-4 Family Residential Loans, and Commercial and Industrial Loans.
Compared to other banks, Discover Bank’s loan portfolio does not show any specific loan specialty.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 2.34 | ✓ | ||
| Multifamily Mortgages |
0.00 | ✓ | ||
| Credit Card Loans | 66.37 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 0.00 | ✓ | ||
| Construction and Development Loans | 0.00 | ✓ | ||
| Commercial Real Estate | 0.00 | ✓ | ||
| Commercial and Industrial Loans | 0.14 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Customer Reviews for Discover Bank (2)
Discover Bank Account Owner
January 7, 2023 | | Replies 1
Comparing other online banks including Ally, Discover has never let me down.
Having accounts with them for 12 plus years, and being a AAA member, I get five basis points more interest over the published rates.
I wish Discover would allow users to be able to scan checks with their home computer and upload the deposits like Ally Bank does.
But over all, they get a 4.5 out of 5 in my humble view. Another plus is that ALL their customer service is based in the United States or Canada.
Is this review helpful? Yes:3 / No: 0
Kitty41 | Apr 25, 2024
I have both ally and discover and discover does allow you to take a picture of a check and upload it to discover.
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