Beneficial Bank


1139 Chestnut Street
Philadelphia, PA 19107
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Beneficial Bank is an FDIC insured institution located in Philadelphia, PA. It was founded in 1853 and has approximately $5.81 billion in assets. Customers can open an account at one of its 66 branches.

FDIC Insured Yes
FDIC Certificate # 15697
Date Established 1853
Assets $ 5.87 billion
Loans $ 3.85 billion
Deposits $ 4.32 billion
Capital $ 912.17 million

For a more detailed analysis of Beneficial Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 24, 2020

Your Current Location: Virginia, VA 20146

Loan Rates - October 24, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Beneficial Bank

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 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
NMLS ID: 2890
License#: MC-3098
2.575% 2.500% 1.00 $2,470 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info

Note to Beneficial Bank
To upload and update your bank's rates please register. It is free to register and add rates.


Beneficial 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:

Beneficial Bank Locations

Financial Details

Beneficial Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Beneficial Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Beneficial Bank U.S. Bank Average
3.31% 6.94%

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 March 31, 2020, Beneficial Bank had $30,895,000 in non-current loans and $754,000 in owned real estate. To cover these potential losses it had $912,173,000 in equity and $43,262,000 in loans loss reserves. That gives it a Texas Ratio of 3.31%.

Return on Equity
Beneficial Bank U.S. Bank Average
4.9% 7.80%

Beneficial Bank has a Return on Equity of 4.9% versus the BestCashCow average of 7.80%. 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.

Beneficial Bank U.S. Bank Average
15.54% 12.68%

Beneficial Bank has a Capitalization of 15.54% versus the BestCashCow average of 12.68. 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.

Beneficial Bank Balance Sheet Analysis

As of December 31, 2018, Beneficial Bank had assets of $5,808,297,000, loans of $3,851,575,000, and deposits of $4,315,645,000. 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

March 31, 2020
Cash & Balances due from depository institutions $ 852.54 million
Interest-bearing balances $ 792.24 million
Total securities $ 710.19 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 3.85 billion
Loan loss allowance $ 43.26 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.75 million
Goodwill and other intangibles $ 163.62 million
All other assets $ 163.02 million
     Total Assets $ 4.90 billion
Total deposits $ 4.32 billion
      Interest-bearing deposits $ 3.75 billion
      Deposits held in domestic offices $ 4.32 billion
      % insured (estimated) 74.62%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 515.00 million
Subordinated debt N.A.
All other liabilities $ 65.48 million
      Total Liabilities $ 4.90 billion
      Shareholders’ Equity $ 971.94 million

Summary Income Statement

March 31, 2020
Total Interest Income $ 211.78 million
Total Interest Expense $ 31.76 million
Net interest income $ 180.02 million
Provision for loan and lease losses $ 4.58 million
Total non interest income $ 29.37 million
Total non interest expense $ 141.36 million
Pre-tax Net Operating Income $ 63.44 million

Bank Loan Profile?

The top three loan types in Beneficial Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Multifamily Mortgages.

Compared to other banks in Pennsylvania, Beneficial Bank has a significantly higher percent of Multifamily Mortgages 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 32.60
Credit Card Loans 0.00
Consumer Auto Loans 2.45
Small Business Loans 3.47
Construction and Development Loans 4.98
Commercial Real Estate 30.34
Commercial and Industrial Loans 10.93
Farm Loans 0.00

Frequently Asked Questions About Beneficial Bank

Branches and Savings

Is Beneficial Bank FDIC insured?

Yes. It is covered under FDIC Certificate #15697.

Why does Beneficial Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Beneficial Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Beneficial Bank a commercial bank?


Where are Beneficial Bank locations?

See branch locations nearby.

Is Beneficial Bank open on Saturdays?

Is Beneficial Bank open on Sundays?

What time does Beneficial Bank open?

What time does Beneficial Bank close?

Are Beneficial Bank ATMs Open 24/7?

Do Beneficial Bank ATMs accept cash deposits?

Can Beneficial Bank customers use other ATMs?

Do Beneficial Bank branches have notaries?

Will Beneficial Bank notarize my document?

What address for Beneficial Bank should I put for incoming ACH transfers?

Will the Beneficial Bank branch print checks?

Do Beneficial Bank checks expire?

Does Beneficial Bank require US citizenship to open account?

Can Beneficial Bank close my account?

Does Beneficial Bank Report to credit bureaus?

Does Beneficial Bank Use Equifax?

What is Beneficial Bank's ACH Routing Number?

What is Beneficial Bank's SWIFT code?


Does Beneficial Bank offer mortgages?

Compare mortgage rates here.

Does Beneficial Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Beneficial Bank offer personal loans?

Compare personal loan rates here.

Does Beneficial Bank offer student loans?

Will Beneficial Bank cash a check?

Will Beneficial Bank redeem a savings bond?

Does Beneficial Bank cash savings bonds?

Will Beneficial Bank cash money orders?

Can Beneficial Bank issue a money order?

Does Beneficial Bank do currency exchange?

Background on The Bank

Who owns Beneficial Bank?

How long has Beneficial Bank been around?

Can Beneficial Bank transfer to other banks?

Does Beneficial Bank have quick pay?

Does Beneficial Bank accept rolled coins?

Will Beneficial Bank accept loose change?

Where is Beneficial Bank headquarters?

Customer Reviews for Beneficial Bank

There are currently no comments for Beneficial Bank. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →