Discover Bank

Headquarters

502 E Market St
Greenwood, DE 19950
See all branch locations →

ACH 031100649

Phone 800 347 2683

Notable Rates APY Vs.Others
Savings N.A. 5.55% →
1-Year CD N.A. 5.41% →
2-Year CD N.A. 5.25% →
5-Year CD N.A. 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Discover Bank is an FDIC insured institution located in Greenwood, DE. It was founded in 1911 and has approximately $149.35 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 5649
Date Established 1911
Assets $ 149.35 billion
Loans $ 119.13 billion
Deposits $ 112.62 billion
Capital $ 12.79 billion
 

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

Deposit Rates - May 17, 2024

Your Current Location: Virginia, VA 20146

Online Only Savings Rates of Discover Bank

Online Savings Rates APY MIN MAX
Online Savings Account
4.25% $0 - Learn More

Online Only CD Rates of Discover Bank

Online CD Rates APY MIN MAX
3 Month CD
2.00% $2,500 - Learn More
6 Month CD
4.25% $2,500 - Learn More
9 Month CD
4.25% $2,500 - Learn More
12 Month CD
4.70% $2,500 - Learn More
18 Month CD
4.40% $2,500 - Learn More
24 Month CD
4.00% $2,500 - Learn More
36 Month CD
3.75% $2,500 - Learn More
48 Month CD
3.75% $2,500 - Learn More
60 Month CD
3.75% $2,500 - Learn More

Bank Online Offers

Discover Bank Lowers Online Savings Rate to 1.25% APY
May 14, 2020

Discover Bank has lowered its online savings rate from 1.40% APY to 1.25% APY this morning.


Discover Bank's Online Savings Rate is Now 1.15% APY
May 26, 2020

Discover Bank's online savings rate is now 1.15% APY.


Discover Bank Raises Its Online Savings Account Rate to 4.15% APY
Jun 22, 2023

Discover has raised its OSA to 4.15% APY this morning from 4.00%.


Discover Bank Raises Its Online 1-Year CD Rate to 5.00% APY
Sep 21, 2023

Discover Bank's Online 1-Year CD Rate is Now 5.20% APY
Oct 31, 2023

Discover recenrtly raised their 1-year CD rate from 5.00% to 5.20% APY



Loan Rates - May 17, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Discover 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 2024

Lender APR Rate (%) Monthly
Payment
Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.967% 6.875%
0.75 points
$2,988 fees
$2,103 Learn More
Rocket Mortgage
NMLS ID: 3030
7.451% 7.375%
0.75 points
$2,400 fees
$2,211 Learn More
MortgageResearch.com
NMLS ID: Not a Lender

points
fees
Learn More
Veterans United Home Loans
NMLS ID: 1907

points
fees
Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.490 %
$0 Learn More
More Info

Note to Discover Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Discover 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


Discover Bank Locations



Climate Policy and Initiatives

Discover Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.


Add Your Review


or use your BestCashCow account

or

Financial Details

Discover Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Discover 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
Discover Bank U.S. Bank Average
10.24% 3.96%

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 December 31, 2024, Discover Bank had $2,259,657,000 in non-current loans and $345,000 in owned real estate. To cover these potential losses it had $12,791,099,000 in equity and $9,283,000,000 in loans loss reserves. That gives it a Texas Ratio of 10.24%.

Return on Equity
Discover Bank U.S. Bank Average
21.98% 12.20%

Discover Bank has a Return on Equity of 21.98% versus the BestCashCow average of 12.20%. 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
Discover Bank U.S. Bank Average
8.56% 10.76%

Discover Bank has a Capitalization of 8.56% versus the BestCashCow average of 10.76. 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.

Discover Bank Balance Sheet Analysis

As of December 31, 2023, Discover Bank had assets of $149,353,230,000, loans of $119,129,817,000, and deposits of $112,624,604,000. 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

December 31, 2024
ASSETS
Cash & Balances due from depository institutions $ 11.26 billion
Interest-bearing balances $ 9.33 billion
Total securities $ 13.70 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 119.13 billion
Loan loss allowance $ 9.28 billion
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.35 million
Goodwill and other intangibles N.A.
All other assets $ 3.28 billion
     Total Assets $ 136.56 billion
LIABILITIES
Total deposits $ 112.62 billion
      Interest-bearing deposits $ 111.00 billion
      Deposits held in domestic offices $ 112.62 billion
      % insured (estimated) 93.77%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 16.25 billion
Subordinated debt $ 1,750.00 million
All other liabilities $ 3.91 billion
      Total Liabilities $ 136.56 billion
      Shareholders’ Equity $ 12.79 billion

Summary Income Statement

December 31, 2024
INCOME AND EXPENSES
Total Interest Income $ 18.43 billion
Total Interest Expense $ 4.67 billion
Net interest income $ 13.77 billion
Provision for loan and lease losses $ 6.02 billion
Total non interest income $ 1,051.12 million
Total non interest expense $ 5.33 billion
Pre-tax Net Operating Income $ 3.07 billion

Bank Loan Profile?

The top three loan types in Discover Bank’s loan portfolio are Credit Card Loans, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks, Discover Bank’s loan portfolio does not show any specific loan specialty.

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 2.34
Multifamily
Mortgages
0.00
Credit Card Loans 66.37
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 0.00
Commercial Real Estate 0.00
Commercial and Industrial Loans 0.14
Farm Loans 0.00

Customer Reviews for Discover Bank (2)


  • January 7, 2023 | | Replies 1

    Comparing other online banks including Ally, Discover has never let me down.

    Having accounts with them for 12 plus years, and being a AAA member, I get five basis points more interest over the published rates.

    I wish Discover would allow users to be able to scan checks with their home computer and upload the deposits like Ally Bank does.

    But over all, they get a 4.5 out of 5 in my humble view. Another plus is that ALL their customer service is based in the United States or Canada.

    Kitty41 | May 17, 2024

    I have both ally and discover and discover does allow you to take a picture of a check and upload it to discover.


Add Your Review


or use your BestCashCow account

or