2024 Overview
General Bank Information
Quontic Bank is an FDIC insured institution located in Astoria, NY. It was founded in 2005 and has approximately $0.62 billion in assets. Customers can open an account at one of its 3 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 57807 |
| Date Established | 2005 |
| Assets | $ 621.67 million |
| Loans | $ 442.25 million |
| Deposits | $ 522.50 million |
| Capital | $ 79.17 million |
For a more detailed analysis of Quontic Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - April 23, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Online Savings
|
4.50% | $0 | - |
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|
|
Money Market
|
5.00% | $0 | $149,999 |
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|
| CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Month Online CD
|
5.05% | $500 | - |
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|
| One-Year CD
|
4.50% | $500 | - |
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|
| 2-Year Online CD
|
4.50% | $500 | - |
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|
| 36 Month CD
|
4.40% | $500 | - |
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|
| 60 Month CD
|
4.30% | $500 | - |
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|
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Online Checking
|
1.10% | $0 | - | Learn More |
Bank Offers
Quontic Slashes Online Money Market Rate
Feb 20, 2020
Quontic Bank had been very competitive with its money market rate for deposits holding at 2.05% APY until now. However, it has now slashed that rate to 1.76% APY.
Loan Rates - April 23, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Quontic 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 |
6.608% |
6.500% 0.88 points $3,600 fees |
$2,023 | Learn More |
NMLS ID: 2059741 |
6.894% |
6.750% 0.88 points $4,746 fees |
$2,076 | Learn More |
NMLS ID: 401822 |
6.932% |
6.750% 0.88 points $6,000 fees |
$2,076 | Learn More |
NMLS ID: 3030 |
7.463% |
7.375% 0.88 points $2,800 fees |
$2,211 | 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 Quontic Bank
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Branches
Quontic 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
Quontic 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
Quontic Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Quontic 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
| Quontic Bank | U.S. Bank Average |
|---|---|
| 30.01% | 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, Quontic Bank had $23,904,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $79,171,000 in equity and $479,000 in loans loss reserves. That gives it a Texas Ratio of 30.01%.
Return on Equity
| Quontic Bank | U.S. Bank Average |
|---|---|
| -1.21% | 12.20% |
Quontic Bank has a Return on Equity of -1.21% 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
| Quontic Bank | U.S. Bank Average |
|---|---|
| 12.74% | 10.76% |
Quontic Bank has a Capitalization of 12.74% 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.
Quontic Bank Balance Sheet Analysis
As of December 31, 2023, Quontic Bank had assets of $621,668,000, loans of $442,253,000, and deposits of $522,499,000. 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 | $ 137.97 million |
| Interest-bearing balances | $ 136.64 million |
| Total securities | $ 4.60 million |
| Federal funds sold and reverse repurchase | $ 0.08 million |
| Net loans and leases | $ 442.25 million |
| Loan loss allowance | $ 0.48 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | N.A. |
| All other assets | $ 33.94 million |
| Total Assets | $ 542.50 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 522.50 million |
| Interest-bearing deposits | $ 511.68 million |
| Deposits held in domestic offices | $ 522.50 million |
| % insured (estimated) | 91.47% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 55.23 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 19.15 million |
| Total Liabilities | $ 542.50 million |
| Shareholders’ Equity | $ 79.17 million |
Summary Income Statement
December 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 39.09 million |
| Total Interest Expense | $ 16.41 million |
| Net interest income | $ 22.69 million |
| Provision for loan and lease losses | $ 0.23 million |
| Total non interest income | $ 19.46 million |
| Total non interest expense | $ 42.68 million |
| Pre-tax Net Operating Income | N.A. |
Bank Loan Profile?
The top three loan types in Quontic Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial and Industrial Loans, and Commercial Real Estate.
Compared to other banks in New York, Quontic Bank has a significantly higher percent of 1-4 Family Residential Loans on its balance sheet, potentially indicating a specialty in that lending area.
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 | 100.00 | ✓ | ||
| Multifamily Mortgages |
0.45 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 0.18 | ✓ | ||
| Construction and Development Loans | 0.00 | ✓ | ||
| Commercial Real Estate | 1.24 | ✓ | ||
| Commercial and Industrial Loans | 16.18 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
*Should any logos, images or public notes appear on this page,they do so courtesy of Quontic Bank and are not subject to approval of BestCashCow. BestCashCow expressly disclaims all responsibility for this content.
Customer Reviews for Quontic Bank
JuanVelasco
March 17, 2023 |
STAY AWAY !
They closed my accounts with no warning.
After multiple successful direct deposits and mobile checks deposits, they claimed one of the three checks I deposited a few days ago was fake. Not sure why. They won't say why. It was a legit payroll check.They actually accepted the other 2 checks. Same exact payroll company, same everything.
But get this. Instead of reaching out, or rejecting the deposit, they simply closed all my accounts and cutoff all access to my funds. I can't even look at my account info online. No warning.
And even after many calls back ad forward, they now understand it's not my fault and that there was no intention to defraud. Yet they are still closing my accounts and refusing to even let me look at balances, etc...
They are sending me a check (yes, really) for the balance of my accounts. Will not tell me how much.
This is absolutely insane.
DO NOT DO BUSINESS WITH THEM.
YOU WILL REGRET IT.
Is this review helpful? Yes:0 / No: 0
Jason Turnable
February 15, 2021 |
Borrowing in USD and lending in BTC, what could possibly go wrong??? (You are the lender in USD).
Is this review helpful? Yes:0 / No: 0
Eli
February 12, 2021 |
I opened a CD last summer and received well below the contracted rate due to their delay, not mine. I discovered it months later and had no recourse. I am bombarded with ads and other promotions. i have even received phone calls from India that I believe originate from opening this account. I feel like the victim of a phishing operation.
Is this review helpful? Yes:1 / No: 1
AKG
February 10, 2021 |
Bitcoin is a mugs game and since this bank is all about bitcoin, I think it might be too!
Is this review helpful? Yes:0 / No: 0
Carl P.
February 2, 2021 |
Opened up a savings account and my rate is double what I had with my last account. Sign up was super easy so so far so good with Quontic!
Is this review helpful? Yes:1 / No: 0
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