Beneficial Bank

Headquarters

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

Notable Rates APY Vs.Others
Savings N.A. 0.85% →
1-Year CD N.A. 0.75% →
2-Year CD N.A. 0.80% →
5-Year CD N.A. 1.25% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 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 - November 29, 2021

Your Current Location: Washington, WA 98109

 

Loan Rates - November 29, 2021

Your Current Location: Washington, WA 98109

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 - Washington 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 520-CL-25944
2.910% 2.875%
0.50 points
$1,140 fees
$1,038 Learn More

Featured - Washington Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
Flagstar Bank-Heloc
Flagstar Bank-Heloc
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4.990 %
$0 Learn More
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Bethpage Federal Credit Union
Bethpage Federal Credit Union
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Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
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BMO Harris Bank
BMO Harris Bank
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Intro APR 1.790 %
After Intro: 4.840 %
Intro Period: 6 months
$0 Learn More
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Note to Beneficial Bank
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Branches

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:
Seattle,Washington


Beneficial Bank Locations



Climate Initiatives

Beneficial Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

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 BestCashCow.com 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% 4.78%

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 June 30, 2021, 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% 11.29%

Beneficial Bank has a Return on Equity of 4.9% versus the BestCashCow average of 11.29%. 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
Beneficial Bank U.S. Bank Average
15.54% 11.72%

Beneficial Bank has a Capitalization of 15.54% versus the BestCashCow average of 11.72. 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

June 30, 2021
ASSETS
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
LIABILITIES
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

June 30, 2021
INCOME AND EXPENSES
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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 32.60
Multifamily
Mortgages
14.47
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

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