CFG Bank

Headquarters

11 W. Ridgely Road
Lutherville, MD 21093
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.91% →
1-Year CD 0.73% 0.85% →
2-Year CD N.A. 0.95% →
5-Year CD 0.88% 1.30% →
30-Year Mortgage N.A. 2.61% →
15-Year Mortgage N.A. 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

CFG Bank is an FDIC insured institution located in Lutherville, MD. It was founded in 1997 and has approximately $1.29 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 34294
Date Established 1997
Assets $ 1,289.71 million
Loans $ 964.08 million
Deposits $ 1,093.14 million
Capital $ 167.31 million
 

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

Deposit Rates - December 4, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $1,000 $24,999 Learn More
Money Market
0.62% $1,000 $24,999 Learn More
Money Market
0.72% $25,000 - Learn More
CD Rates APY MIN MAX
12 Mo CD
0.73% $500 - Learn More
18 Mo CD
0.68% $500 - Learn More
60 Mo CD
0.88% $500 - Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Online Only Savings Rates of CFG Bank

Online Savings Rates APY MIN MAX
High Yield Money Market
0.72% $25,000 - Learn More

Online Only CD Rates of CFG Bank

Online CD Rates APY MIN MAX
12-Month CD
0.73% $500 - Learn More
18-Month CD
0.68% $500 - Learn More
5-Year CD
0.88% $500 - Learn More

Bank Online Offers

CFG Bank Lowers Money Market to 2.25% APY
Dec 12, 2019

CFG Bank has lowered its money market rate for balances over $25,000 from 2.30% to 2.25% APY.  The rate remains the best online savings or money market rate nationally available in the US.  You may however find higher rates at banks and credit unions near you.

CFG Bank has also slightly lowered all of its CD offerings.   Its 12-month, 18-month and 60-month offerings now stand at 2.15% APY, 2.33% APY and 2.60% APY, respectively.

 


CFG Bank Lowers Money Market Rate to 2.05% APY
Feb 26, 2020

CFG has lowered its money market accounts rate to 2.05% APY from 2.15% APY.   The account requires a $25,000 minimum, and only permits daily withdrawals up to $5,000 (and monhtly withdrawals up to $30,000).


 

Loan Rates - December 4, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for CFG Bank

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




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
2.693% 2.625% 0.75 $2,235 $1,005 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.558% 2.500% 0.75 $1,905 $988 Learn More

Featured - Connecticut 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 CFG Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

CFG 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:
Fairfield,Connecticut


CFG Bank Locations


Financial Details

CFG Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of CFG 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
CFG Bank U.S. Bank Average
3.96% 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, CFG Bank had $7,430,000 in non-current loans and $18,000 in owned real estate. To cover these potential losses it had $167,306,000 in equity and $20,754,000 in loans loss reserves. That gives it a Texas Ratio of 3.96%.

Return on Equity
CFG Bank U.S. Bank Average
10.23% 7.80%

CFG Bank has a Return on Equity of 10.23% 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
CFG Bank U.S. Bank Average
12.97% 12.68%

CFG Bank has a Capitalization of 12.97% 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.

CFG Bank Balance Sheet Analysis

As of March 31, 2020, CFG Bank had assets of $1,289,712,000, loans of $964,076,000, and deposits of $1,093,137,000. 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 $ 232.43 million
Interest-bearing balances $ 227.23 million
Total securities $ 41.42 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 964.08 million
Loan loss allowance $ 20.75 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.02 million
Goodwill and other intangibles $ 40.86 million
All other assets $ 9.97 million
     Total Assets $ 1,122.41 million
LIABILITIES
Total deposits $ 1,093.14 million
      Interest-bearing deposits $ 898.04 million
      Deposits held in domestic offices $ 1,093.14 million
      % insured (estimated) 63.80%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 21.00 million
Subordinated debt N.A.
All other liabilities $ 8.27 million
      Total Liabilities $ 1,122.41 million
      Shareholders’ Equity $ 167.31 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 16.82 million
Total Interest Expense $ 4.54 million
Net interest income $ 12.28 million
Provision for loan and lease losses $ 3.00 million
Total non interest income $ 3.93 million
Total non interest expense $ 8.92 million
Pre-tax Net Operating Income $ 4.30 million

Bank Loan Profile?

The top three loan types in CFG Bank’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and Multifamily Mortgages.

Compared to other banks in Maryland, CFG Bank has a significantly higher percent of Commercial Real Estate, Commercial and Industrial 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 2.24
Multifamily
Mortgages
2.92
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 1.93
Commercial Real Estate 59.71
Commercial and Industrial Loans 34.51
Farm Loans 0.00

Frequently Asked Questions About Cfg Bank

Branches and Savings

Is Cfg Bank FDIC insured?

Yes. It is covered under FDIC Certificate #34294.

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

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

Why are Cfg Bank CD rates not competitive?

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

Is Cfg Bank a commercial bank?

Yes

Where are Cfg Bank locations?

See branch locations nearby.

Is Cfg Bank open on Saturdays?

Is Cfg Bank open on Sundays?

What time does Cfg Bank open?

What time does Cfg Bank close?

Are Cfg Bank ATMs Open 24/7?

Do Cfg Bank ATMs accept cash deposits?

Can Cfg Bank customers use other ATMs?

Do Cfg Bank branches have notaries?

Will Cfg Bank notarize my document?

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

Will the Cfg Bank branch print checks?

Do Cfg Bank checks expire?

Does Cfg Bank require US citizenship to open account?

Can Cfg Bank close my account?

Does Cfg Bank Report to credit bureaus?

Does Cfg Bank Use Equifax?

What is Cfg Bank's ACH Routing Number?

What is Cfg Bank's SWIFT code?

Products

Does Cfg Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Cfg Bank offer personal loans?

Compare personal loan rates here.

Does Cfg Bank offer student loans?

Will Cfg Bank cash a check?

Will Cfg Bank redeem a savings bond?

Does Cfg Bank cash savings bonds?

Will Cfg Bank cash money orders?

Can Cfg Bank issue a money order?

Does Cfg Bank do currency exchange?

Background on The Bank

Who owns Cfg Bank?

How long has Cfg Bank been around?

Can Cfg Bank transfer to other banks?

Does Cfg Bank have quick pay?

Does Cfg Bank accept rolled coins?

Will Cfg Bank accept loose change?

Where is Cfg Bank headquarters?

Customer Reviews for CFG Bank


  • March 17, 2020 |

    Great people to work with.They are smart Most of the money they lend is in the health care field. They stay away from the housing industry .They also test you with respect.M&t could care less about your time. These people respect your time and get you done fast.

  • March 17, 2020 |

    Great people to work with.They are smart Most of the money they lend is in the health care field. They stay away from the housing industry .They also test you with respect.M&t could care less about your time. These people respect your time and get you done fast.

  • January 13, 2020 |

    FYI, this bank changed its name to only CFG Bank. The link at the top of the site is broken. It's https://thecfgbank.com

  • January 13, 2020 |

    Solid overall bank with one of the highest APY for money market accounts in the US. 2.25% is hard to beat if you've got 25k to deposit. I recommend!

Add Your Review

Rate it here →