2021 Overview
General Bank Information
CFG Community Bank is an FDIC insured institution located in Lutherville, MD. It was founded in 1997 and has approximately $2.05 billion in assets. Customers can open an account at one of its 3 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 34294 |
| Date Established | 1997 |
| Assets | $ 2.05 billion |
| Loans | $ 1,490.34 million |
| Deposits | $ 1,708.20 million |
| Capital | $ 226.71 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 - December 6, 2021
Your Current Location: Virginia, VA 20146
| Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
|
Money Market
|
0.49% | $1,000 | $24,999 |
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|
|
Money Market
|
0.59% | $25,000 | - |
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|
| CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 12 Mo CD
|
0.67% | $500 | - |
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|
| 18 Mo CD
|
0.70% | $500 | - |
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|
| 36 Month CD
|
0.85% | $500 | - |
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|
| 60 Mo CD
|
1.00% | $500 | - |
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|
Online Only Savings Rates of CFG Bank
| Online Savings Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| High Yield Money Market
|
0.59% | $25,000 | - |
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|
Online Only CD Rates of CFG Bank
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 12-Month CD
|
0.67% | $500 | - |
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|
| 13 Month No Penalty CD
|
0.62% | $500 | - |
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|
| 18-Month CD
|
0.70% | $500 | - |
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|
| 36 Month Online CD
|
0.85% | $500 | - |
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|
| 5-Year CD
|
1.00% | $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.
Loan Rates - December 6, 2021
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 2021
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 541760 |
3.045% |
2.975% 0.88 points $2,232 fees |
$1,051 | Learn More |
NMLS ID: 6606 |
2.994% |
2.875% 0.88 points $3,849 fees |
$1,038 | Learn More |
NMLS ID: 3030 |
3.620% |
3.500% 1.00 points $3,750 fees |
$1,123 | Learn More |
NMLS ID: 2890 License#: MC-3098 |
2.801% |
2.750% 0.63 points $1,662 fees |
$1,021 | Learn More |
Featured - Virginia Home Equity Line Of Credit Rates 2021
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Bethpage Federal Credit Union See Table |
Intro APR
2.990 %
After Intro: 3.750 % Intro Period: 12 months |
$25,000 |
Learn More
More Info |
Flagstar Bank-Heloc See Table |
4.990 %
|
$0 |
Learn More
More Info |
Note to CFG Community Bank
To upload and update your bank's rates please register.
It is free to register and add rates.
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 |
|---|---|
| 7.87% | 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, CFG Community Bank had $18,725,000 in non-current loans and $1,546,000 in owned real estate. To cover these potential losses it had $226,710,000 in equity and $30,804,000 in loans loss reserves. That gives it a Texas Ratio of 7.87%.
Return on Equity
| CFG Community Bank | U.S. Bank Average |
|---|---|
| 38.74% | 11.29% |
CFG Community Bank has a Return on Equity of 38.74% 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
| CFG Community Bank | U.S. Bank Average |
|---|---|
| 11.08% | 11.72% |
CFG Community Bank has a Capitalization of 11.08% 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.
CFG Community Bank Balance Sheet Analysis
As of June 30, 2021, CFG Community Bank had assets of $2,045,459,000, loans of $1,490,337,000, and deposits of $1,708,201,000. 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 | $ 243.22 million |
| Interest-bearing balances | $ 237.09 million |
| Total securities | $ 231.76 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 1,490.34 million |
| Loan loss allowance | $ 30.80 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 1.55 million |
| Goodwill and other intangibles | $ 55.46 million |
| All other assets | $ 11.53 million |
| Total Assets | $ 1,818.75 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 1,708.20 million |
| Interest-bearing deposits | $ 1,148.40 million |
| Deposits held in domestic offices | $ 1,708.20 million |
| % insured (estimated) | 45.86% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 92.95 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 17.60 million |
| Total Liabilities | $ 1,818.75 million |
| Shareholders’ Equity | $ 226.71 million |
Summary Income Statement
June 30, 2021| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 47.75 million |
| Total Interest Expense | $ 5.36 million |
| Net interest income | $ 42.38 million |
| Provision for loan and lease losses | $ 2.76 million |
| Total non interest income | $ 27.78 million |
| Total non interest expense | $ 28.41 million |
| Pre-tax Net Operating Income | $ 39.00 million |
Bank Loan Profile?
The top three loan types in CFG Community Bank’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and Multifamily Mortgages.
Compared to other banks in Maryland, CFG Community 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 | 1.53 | ✓ | ||
| Multifamily Mortgages |
4.46 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 1.39 | ✓ | ||
| Construction and Development Loans | 3.74 | ✓ | ||
| Commercial Real Estate | 62.55 | ✓ | ||
| Commercial and Industrial Loans | 29.54 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Customer Reviews for CFG Community Bank
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:3 / 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:0 / No: 5
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: 2
JohnA33
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
Is this review helpful? Yes:2 / No: 0
TheMoneyNerd
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!
Is this review helpful? Yes:2 / No: 0
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