2020 Overview
General Bank Information
CFG Community 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 Community Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - October 20, 2020
Your Current Location: Connecticut, CT 06828
| Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.10% | $2,500 | $4,999 |
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|
|
Money Market
|
1.06% | $2,500 | $2,999 |
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|
|
Money Market
|
1.06% | $10,000 | $14,999 |
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|
|
Money Market
|
1.16% | $25,000 | $29,999 |
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|
| CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 12 Mo CD
|
0.95% | $10,000 | $14,999 |
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|
| 12 Mo CD
|
0.95% | $100,000 | $199,999 |
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|
| 18 Mo CD
|
0.90% | $10,000 | $14,999 |
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|
| 18 Mo CD
|
0.90% | $100,000 | $199,999 |
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|
| 60 Mo CD
|
1.06% | $10,000 | $14,999 |
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|
| 60 Mo CD
|
1.06% | $100,000 | $199,999 |
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|
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Int Ckg
|
0.05% | $2,500 | $3,499 | Learn More |
Online Only Savings Rates of CFG Bank
| Online Savings Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| High Yield Money Market
|
0.86% | $25,000 | - |
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|
Online Only CD Rates of CFG Bank
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 12-Month CD
|
0.75% | $500 | - |
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|
| 18-Month CD
|
0.70% | $500 | - |
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|
| 5-Year CD
|
0.90% | $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).
Loan Rates - October 20, 2020
Your Current Location: Connecticut, CT 06828
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 - Connecticut 30 Year Fixed Mortgage Rates 2020
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 3030 |
3.620% | 3.500% | 1.00 | $3,750 | $1,123 | Learn More |
|
NMLS ID: 3030 |
3.620% | 3.500% | 1.00 | $3,750 | $1,123 | Learn More |
NMLS ID: 2890 License#: 13256 |
2.575% | 2.500% | 1.00 | $2,468 | $988 | Learn More |
NMLS ID: 424182 |
2.558% | 2.500% | 0.75 | $1,918 | $988 | Learn More |
Featured - Connecticut Home Equity Line Of Credit Rates 2020
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loans See Table |
2.240 %
|
$0 |
Learn More
More Info |
People's United Bank, N.A. See Table |
4.000 %
|
$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:
Fairfield,Connecticut
CFG Community Bank Locations
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 |
|---|---|
| 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 Community 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 Community Bank | U.S. Bank Average |
|---|---|
| 10.23% | 7.80% |
CFG Community 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 Community Bank | U.S. Bank Average |
|---|---|
| 12.97% | 12.68% |
CFG Community 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 Community Bank Balance Sheet Analysis
As of March 31, 2020, CFG Community 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 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 | 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 Community Bank
Branches and Savings
Is Cfg Community Bank FDIC insured?
Yes. It is covered under FDIC Certificate #34294.
Why does Cfg Community 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 Community Bank CD rates not competitive?
See the best online CD rates here. See the best local CD rates here.
Is Cfg Community Bank a commercial bank?
Yes
Is Cfg Community Bank open on Saturdays?
Is Cfg Community Bank open on Sundays?
What time does Cfg Community Bank open?
What time does Cfg Community Bank close?
Are Cfg Community Bank ATMs Open 24/7?
Do Cfg Community Bank ATMs accept cash deposits?
Can Cfg Community Bank customers use other ATMs?
Do Cfg Community Bank branches have notaries?
Will Cfg Community Bank notarize my document?
What address for Cfg Community Bank should I put for incoming ACH transfers?
Will the Cfg Community Bank branch print checks?
Do Cfg Community Bank checks expire?
Does Cfg Community Bank require US citizenship to open account?
Can Cfg Community Bank close my account?
Does Cfg Community Bank Report to credit bureaus?
Does Cfg Community Bank Use Equifax?
What is Cfg Community Bank's ACH Routing Number?
What is Cfg Community Bank's SWIFT code?
Products
Does Cfg Community Bank offer home equity lines of credit and home equity loans?
Compare home equity lines of credit rates here.
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: 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: 0
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:1 / 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:1 / No: 0
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