Blue Foundry Bank

Headquarters

25 Orient Way
Rutherford, NJ 07070
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.30% 1.05% →
1-Year CD 0.45% 1.05% →
2-Year CD 0.45% 1.11% →
5-Year CD 0.45% 1.56% →
30-Year Mortgage 4.28% 3.09% →
15-Year Mortgage 3.86% 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Blue Foundry Bank is an FDIC insured institution located in Rutherford, NJ. It was founded in 1939 and has approximately $1.91 billion in assets. Customers can open an account at one of its 18 branches.

FDIC Insured Yes
FDIC Certificate # 30052
Date Established 1939
Assets $ 1,913.79 million
Loans $ 1,405.25 million
Deposits $ 1,316.62 million
Capital $ 209.75 million
 

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

Deposit Rates - August 8, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.30% $2,500 $4,999 Learn More
Money Market
0.20% $25,000 $29,999 Learn More
Premium Money Market Account
0.60% $10,000 $14,999 Learn More
Premium Money Market Account
0.60% $25,000 $34,999 Learn More
CD Rates APY MIN MAX
Special: 6 Mo CD
0.45% $5,000 - Learn More
6 Mo CD
0.45% $10,000 $14,999 Learn More
6 Mo CD
0.45% $100,000 $199,999 Learn More
12 Mo CD
0.45% $10,000 $14,999 Learn More
12 Mo CD
0.45% $100,000 $199,999 Learn More
18 Mo CD
0.45% $10,000 $14,999 Learn More
18 Mo CD
0.45% $100,000 $199,999 Learn More
24 Mo CD
0.45% $10,000 $14,999 Learn More
24 Mo CD
0.45% $100,000 $199,999 Learn More
36 Mo CD
0.45% $10,000 $14,999 Learn More
36 Mo CD
0.45% $100,000 $199,999 Learn More
48 Mo CD
0.45% $10,000 $14,999 Learn More
48 Mo CD
0.45% $100,000 $199,999 Learn More
60 Mo CD
0.45% $10,000 $14,999 Learn More
60 Mo CD
0.45% $100,000 $199,999 Learn More

Variable IRA Rates APY MIN MAX
Var IRA
0.50% $1 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Loan Rates - August 8, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Blue Foundry 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:
Ashburn,Virginia


Blue Foundry Bank Locations


Financial Details

Blue Foundry Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Blue Foundry 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
Blue Foundry Bank U.S. Bank Average
1.92% 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, Blue Foundry Bank had $3,961,000 in non-current loans and $384,000 in owned real estate. To cover these potential losses it had $209,749,000 in equity and $16,000,000 in loans loss reserves. That gives it a Texas Ratio of 1.92%.

Return on Equity
Blue Foundry Bank U.S. Bank Average
-20.88% 7.80%

Blue Foundry Bank has a Return on Equity of -20.88% 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.

Capitalization
Blue Foundry Bank U.S. Bank Average
10.96% 12.68%

Blue Foundry Bank has a Capitalization of 10.96% 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.

Blue Foundry Bank Balance Sheet Analysis

As of March 31, 2020, Blue Foundry Bank had assets of $1,913,794,000, loans of $1,405,253,000, and deposits of $1,316,624,000. 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
ASSETS
Cash & Balances due from depository institutions $ 148.52 million
Interest-bearing balances $ 143.10 million
Total securities $ 278.09 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,405.25 million
Loan loss allowance $ 16.00 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.38 million
Goodwill and other intangibles $ 2.36 million
All other assets $ 59.19 million
     Total Assets $ 1,704.05 million
LIABILITIES
Total deposits $ 1,316.62 million
      Interest-bearing deposits $ 1,258.29 million
      Deposits held in domestic offices $ 1,316.62 million
      % insured (estimated) 89.89%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 372.40 million
Subordinated debt N.A.
All other liabilities $ 15.02 million
      Total Liabilities $ 1,704.05 million
      Shareholders’ Equity $ 209.75 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 16.61 million
Total Interest Expense $ 6.26 million
Net interest income $ 10.35 million
Provision for loan and lease losses $ 1.50 million
Total non interest income N.A.
Total non interest expense $ 23.83 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

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

Compared to other banks in New Jersey, Blue Foundry 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 55.28
Multifamily
Mortgages
33.94
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 3.75
Construction and Development Loans 2.99
Commercial Real Estate 8.92
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Frequently Asked Questions About Blue Foundry Bank

Branches and Savings

Is Blue Foundry Bank FDIC insured?

Yes. It is covered under FDIC Certificate #30052.

Why does Blue Foundry Bank pay such low interest on savings accounts?

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

Why are Blue Foundry Bank CD rates not competitive?

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

Is Blue Foundry Bank a commercial bank?

Yes

Where are Blue Foundry Bank locations?

See branch locations nearby.

Is Blue Foundry Bank open on Saturdays?

Is Blue Foundry Bank open on Sundays?

What time does Blue Foundry Bank open?

What time does Blue Foundry Bank close?

Are Blue Foundry Bank ATMs Open 24/7?

Do Blue Foundry Bank ATMs accept cash deposits?

Can Blue Foundry Bank customers use other ATMs?

Do Blue Foundry Bank branches have notaries?

Will Blue Foundry Bank notarize my document?

What address for Blue Foundry Bank should I put for incoming ACH transfers?

Will the Blue Foundry Bank branch print checks?

Do Blue Foundry Bank checks expire?

Does Blue Foundry Bank require US citizenship to open account?

Can Blue Foundry Bank close my account?

Does Blue Foundry Bank Report to credit bureaus?

Does Blue Foundry Bank Use Equifax?

What is Blue Foundry Bank's ACH Routing Number?

What is Blue Foundry Bank's SWIFT code?

Products

Does Blue Foundry Bank offer mortgages?

Compare mortgage rates here.

Does Blue Foundry Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Blue Foundry Bank offer personal loans?

Compare personal loan rates here.

Does Blue Foundry Bank offer student loans?

Will Blue Foundry Bank cash a check?

Will Blue Foundry Bank redeem a savings bond?

Does Blue Foundry Bank cash savings bonds?

Will Blue Foundry Bank cash money orders?

Can Blue Foundry Bank issue a money order?

Does Blue Foundry Bank do currency exchange?

Background on The Bank

Who owns Blue Foundry Bank?

How long has Blue Foundry Bank been around?

Can Blue Foundry Bank transfer to other banks?

Does Blue Foundry Bank have quick pay?

Does Blue Foundry Bank accept rolled coins?

Will Blue Foundry Bank accept loose change?

Where is Blue Foundry Bank headquarters?

Customer Reviews for Blue Foundry Bank


  • February 25, 2020 |

    Bait And Switch - ZERO - STAY AWAY
    This bank presents loan programs on its website that it doesn't truly offer. After downloading the forms from their website and submitting the applications, they then told me that they no longer offer it. I have repeatedly asked them to honor the programs that they are presenting to their customers. In my third attempt to get them to honor the program, they didn't even have the decency to include a response letter, they just sent back the letter I sent to them. What a horrible bank and customer service experience.

  • December 22, 2014

    Can I apply for a cd without coming into your bank. (through the mail)?

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