Banesco USA

Headquarters

3155 Nw 77 Avenue
Miami, FL 33122
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 5.55% →
1-Year CD 5.15% 5.60% →
2-Year CD 0.50% 4.90% →
5-Year CD N.A. 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Banesco USA is an FDIC insured institution located in Miami, FL. It was founded in 2006 and has approximately $3.81 billion in assets. Customers can open an account at one of its 7 branches.

FDIC Insured Yes
FDIC Certificate # 57815
Date Established 2006
Assets $ 3.81 billion
Loans $ 2.85 billion
Deposits $ 2.97 billion
Capital $ 450.02 million
 

For a more detailed analysis of Banesco USA'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: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
1.35% $2,500 $250,000 Learn More
CD Rates APY MIN MAX
6 Mo CD
5.20% $1,000 $250,000 Learn More
9 Month CD
5.25% $1,000 $250,000 Learn More
12-Month CD
5.15% $1,000 $250,000 Learn More
18 Mo CD
4.30% $1,000 $250,000 Learn More
24 Mo CD
0.50% $1,000 $250,000 Learn More
36 Month CD
0.55% $1,000 $250,000 Learn More


Loan Rates - April 23, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Banesco USA

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2024

Lender APR Rate (%) Monthly
Payment
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PenFed Credit Union
NMLS ID: 401822
6.818% 6.625%
1.00 points
$6,400 fees
$2,049 Learn More
Tomo Mortgage, LLC
NMLS ID: 2059741
6.994% 6.875%
0.63 points
$3,885 fees
$2,103 Learn More
Rocket Mortgage
NMLS ID: 3030
7.451% 7.375%
0.75 points
$2,400 fees
$2,211 Learn More
Neighbors Bank
NMLS ID: 491986

points
fees
Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.490 %
$0 Learn More
More Info

Note to Banesco USA
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Branches

Banesco USA 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:
Ashburn,Virginia


Banesco USA Locations



Climate Policy and Initiatives

Banesco USA 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

Banesco USA Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Banesco USA. 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
Banesco USA U.S. Bank Average
1.5% 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, Banesco USA had $7,300,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $450,022,000 in equity and $35,595,000 in loans loss reserves. That gives it a Texas Ratio of 1.5%.

Return on Equity
Banesco USA U.S. Bank Average
5.98% 12.20%

Banesco USA has a Return on Equity of 5.98% 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
Banesco USA U.S. Bank Average
11.82% 10.76%

Banesco USA has a Capitalization of 11.82% 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.

Banesco USA Balance Sheet Analysis

As of December 31, 2023, Banesco USA had assets of $3,808,125,000, loans of $2,845,801,000, and deposits of $2,971,419,000. 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 $ 173.94 million
Interest-bearing balances $ 160.39 million
Total securities $ 582.08 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.85 billion
Loan loss allowance $ 35.60 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.05 million
All other assets $ 97.72 million
     Total Assets $ 3.36 billion
LIABILITIES
Total deposits $ 2.97 billion
      Interest-bearing deposits $ 1,928.50 million
      Deposits held in domestic offices $ 2.54 billion
      % insured (estimated) 61.21%
Federal funds purchased and repurchase agreements $ 284.00 million
Trading liabilities N.A.
Other borrowed funds $ 249.81 million
Subordinated debt $ 14.87 million
All other liabilities $ 20.01 million
      Total Liabilities $ 3.36 billion
      Shareholders’ Equity $ 450.02 million

Summary Income Statement

December 31, 2024
INCOME AND EXPENSES
Total Interest Income $ 180.23 million
Total Interest Expense $ 79.53 million
Net interest income $ 100.70 million
Provision for loan and lease losses $ 8.18 million
Total non interest income $ 19.63 million
Total non interest expense $ 73.72 million
Pre-tax Net Operating Income $ 14.74 million

Bank Loan Profile?

The top three loan types in Banesco USA’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks, Banesco USA’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 14.65
Multifamily
Mortgages
3.30
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 1.39
Construction and Development Loans 3.55
Commercial Real Estate 30.04
Commercial and Industrial Loans 5.96
Farm Loans 0.00

Customer Reviews for Banesco USA (9)


  • December 27, 2022

    CDs 6 Month Rates

    They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe?

  • June 25, 2020 |

    Online CDs 12 Month Rates

    Nope. As with the CIT quote 1.25% APY is a bit optimistic. Banesco's site offers .90%.

  • January 9, 2020 |

    I opened a 2 year CD there 2 years ago. Now I'm trying to close it on maturity instead of having it automatically roll over into a new CD. They're giving me a hard time and wasting my time. Their website has bugs that caused me to get locked out. But I no longer need their website because I just want to close the CD on maturity and never do business with Banesco USA again. But they refuse unless I jump through their hoops. They're like a bunch of government bureaucrats whose job is to find obstacles to prevent people from doing anything without a huge waste of time.

  • June 5, 2019

    Their process for simply opening a savings account was over the top complicated and time consuming. Their process would make sense if you were trying to borrow money, but for giving them your money to hold it was unreasonable. I aborted the process with them and ended up opening an account with Comenity Bank. Their process was simple and quick, with a similarly high interest rate.

  • October 28, 2018

    Savings Rates

    used to have money market with them. zero customer service. They are good until there is a problem and then you are on you own.


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