2023 Overview
General Bank Information
CFG Community Bank is an FDIC insured institution located in Lutherville, MD. It was founded in 1997 and has approximately $3.21 billion in assets. Customers can open an account at one of its 3 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 34294 |
| Date Established | 1997 |
| Assets | $ 3.21 billion |
| Loans | $ 2.54 billion |
| Deposits | $ 2.74 billion |
| Capital | $ 285.25 million |
For a more detailed analysis of CFG Community Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - February 7, 2023
Your Current Location: Virginia, VA 20146
Online Only Savings Rates of CFG Bank
| Online Savings Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| High Yield Money Market
|
4.45% | $1,000 | - |
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|
Online Only CD Rates of CFG Bank
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 12-Month CD
|
4.85% | $500 | - |
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|
| 18-Month CD
|
4.75% | $500 | - |
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|
| 36 Month Online CD
|
4.60% | $500 | - |
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|
| 5-Year CD
|
4.50% | $500 | - |
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|
Bank Online Offers
CFG Bank Lowers Money Market to 2.25% APY
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
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).
CFG Bank Lowers Online Savings Rate to 0.68% APY
CFG has lowered its online savings rate by 5 basis points which is just enough so that it is no longer the highest nationally-available online savings rate in the country.
CFG Bank Raises Online Savings Rate to 0.70% APY
CFG has raised its online savings rate from 0.63 to 0.70% APY, making it one of only about 5 or 6 banks to over over 0.70%.
Its 13-month No Penalty CD rate was also raised to 0.80% APY. See all No Penalty and special term CD rates here.
CFG Bank Raises Online Money Market Rate to 4.25% APY
CFG Bank has raised its online money market rate to 4.25% APY. This move places it within 10 basis points of My Savings Direct, the current savings and money market rate leader.
Loan Rates - February 7, 2023
Your Current Location: Virginia, VA 20146
There are currently no loan rates available for CFG Community 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 2023
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 1907 |
6.300% |
6.125% 0.88 points $4,688 fees |
$1,520 | Learn More |
NMLS ID: 184303 |
5.990% |
5.990% 0.00 points $0 fees |
$1,498 | Learn More |
NMLS ID: 1168 |
points fees |
Learn More | ||
NMLS ID: Not lender |
points fees |
Learn More |
Featured - Virginia Home Equity Line Of Credit Rates 2023
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
6.740 %
|
$0 |
Learn More
More Info |
Note to CFG Community Bank
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Branches
CFG Community 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
Climate Initiatives
CFG Community Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
Financial Details
CFG Community Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of CFG Community 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 Community Bank | U.S. Bank Average |
|---|---|
| 2.92% | 4.06% |
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, 2022, CFG Community Bank had $7,966,000 in non-current loans and $1,546,000 in owned real estate. To cover these potential losses it had $285,249,000 in equity and $40,005,000 in loans loss reserves. That gives it a Texas Ratio of 2.92%.
Return on Equity
| CFG Community Bank | U.S. Bank Average |
|---|---|
| 35.49% | 9.98% |
CFG Community Bank has a Return on Equity of 35.49% versus the BestCashCow average of 9.98%. 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 Community Bank | U.S. Bank Average |
|---|---|
| 8.87% | 10.23% |
CFG Community Bank has a Capitalization of 8.87% versus the BestCashCow average of 10.23. 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 Community Bank Balance Sheet Analysis
As of June 30, 2022, CFG Community Bank had assets of $3,214,610,000, loans of $2,544,257,000, and deposits of $2,741,427,000. 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, 2022| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 178.40 million |
| Interest-bearing balances | $ 168.60 million |
| Total securities | $ 379.20 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 2.54 billion |
| Loan loss allowance | $ 40.01 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 1.55 million |
| Goodwill and other intangibles | $ 58.89 million |
| All other assets | $ 39.56 million |
| Total Assets | $ 2.93 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 2.74 billion |
| Interest-bearing deposits | $ 1,980.42 million |
| Deposits held in domestic offices | $ 2.74 billion |
| % insured (estimated) | 56.86% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 162.37 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 25.56 million |
| Total Liabilities | $ 2.93 billion |
| Shareholders’ Equity | $ 285.25 million |
Summary Income Statement
June 30, 2022| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 77.22 million |
| Total Interest Expense | $ 6.65 million |
| Net interest income | $ 70.57 million |
| Provision for loan and lease losses | $ 3.78 million |
| Total non interest income | $ 15.67 million |
| Total non interest expense | $ 35.70 million |
| Pre-tax Net Operating Income | $ 46.75 million |
Bank Loan Profile?
The top three loan types in CFG Community Bank’s loan portfolio are Commercial Real Estate, Multifamily Mortgages, and Commercial and Industrial Loans.
Compared to other banks in Maryland, CFG Community Bank has a significantly higher percent of Multifamily Mortgages, 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 | 1.13 | ✓ | ||
| Multifamily Mortgages |
28.95 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 0.73 | ✓ | ||
| Construction and Development Loans | 3.07 | ✓ | ||
| Commercial Real Estate | 44.21 | ✓ | ||
| Commercial and Industrial Loans | 23.96 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Customer Reviews for CFG Community Bank
Estewart51
September 7, 2022 |
I was considering opening a CD with this bank but I'm having second thoughts due to the many NEGETATIVE reviews. I'm seeking an on line bank with competitive rates and GOOD CUSTOMER SERVICE.
Is this review helpful? Yes:8 / No: 7
Nancy B
August 17, 2022 |
So frustrating trying to open and fund an account. No return phone calls, couldn’t add funds. Giving up and taking my money elsewhere! If it’s difficult depositing money, I can only imagine trying to withdraw money!! Don’t waste your time!
Is this review helpful? Yes:12 / No: 1
PK
August 5, 2022 |
Don't waste your time. No one returns calls. We waited for a week and never heard back from them. If you cannot get your money into the bank I can only imagine the hassles getting it out. If you read these reviews its clear they do not have the capacity to actually be an online bank.
Is this review helpful? Yes:11 / No: 0
niedfreddie
May 27, 2021 |
Online application only good for opening a CD. I had trouble trying to establish an High Yield Saving Account. Their online application process kept initiating a CD account. I was unable to create a saving account and their service reps were not helpful in providing guidance for me to establish an savings account. Another factor to be aware of is transferring funds to external accounts takes forever to process. The only thing they have going is the high rates on their CD accounts.
Is this review helpful? Yes:8 / No: 0
Howard Sirkis
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.
Is this review helpful? Yes:1 / No: 6
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