Discover Bank

Headquarters

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

Phone 800 347 2683

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Discover Bank is an FDIC insured institution located in Greenwood, DE. It was founded in 1911 and has approximately $111.14 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 5649
Date Established 1911
Assets $ 111.14 billion
Loans $ 86.05 billion
Deposits $ 75.89 billion
Capital $ 9.16 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 - October 28, 2020

Your Current Location: Virginia, VA 20146

Online Only Savings Rates of Discover Bank

Online Savings Rates APY MIN MAX
Online Savings Account
0.60% $0 - Learn More

Online Only CD Rates of Discover Bank

Online CD Rates APY MIN MAX
3 Mo CD 2.5K
0.25% $2,500 - Learn More
6 Mo CD 2.5K
0.45% $2,500 - Learn More
12 Mo CD 2.5K
0.60% $2,500 - Learn More
18 Mo CD 2.5K
0.60% $2,500 - Learn More
24 Mo CD 2.5K
0.65% $2,500 - Learn More
36 Mo CD 2.5K
0.70% $2,500 - Learn More
48 Mo CD 2.5K
0.70% $2,500 - Learn More
60 Mo CD 2.5K
0.80% $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.



Loan Rates - October 28, 2020

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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
2.669% 2.625% 0.63 $1,450 $1,005 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More

Featured - Virginia 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
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR
2.990 %
After Intro: 3.500 %
Intro Period: 12 months
$25,000 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


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
8.01% 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, Discover Bank had $1,286,476,000 in non-current loans and $101,000 in owned real estate. To cover these potential losses it had $9,155,256,000 in equity and $6,913,200,000 in loans loss reserves. That gives it a Texas Ratio of 8.01%.

Return on Equity
Discover Bank U.S. Bank Average
-3.57% 7.80%

Discover Bank has a Return on Equity of -3.57% 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
Discover Bank U.S. Bank Average
8.24% 12.68%

Discover Bank has a Capitalization of 8.24% 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.

Discover Bank Balance Sheet Analysis

As of March 31, 2020, Discover Bank had assets of $111,140,060,000, loans of $86,054,262,000, and deposits of $75,885,786,000. 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 $ 9.85 billion
Interest-bearing balances $ 8.74 billion
Total securities $ 11.97 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 86.05 billion
Loan loss allowance $ 6.91 billion
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.10 million
Goodwill and other intangibles $ 2.40 million
All other assets $ 2.89 billion
     Total Assets $ 101.98 billion
LIABILITIES
Total deposits $ 75.89 billion
      Interest-bearing deposits $ 74.98 billion
      Deposits held in domestic offices $ 75.89 billion
      % insured (estimated) 92.42%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 21.45 billion
Subordinated debt $ 1,518.69 million
All other liabilities $ 3.13 billion
      Total Liabilities $ 101.98 billion
      Shareholders’ Equity $ 9.16 billion

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 3.08 billion
Total Interest Expense $ 540.17 million
Net interest income $ 2.54 billion
Provision for loan and lease losses $ 1,838.47 million
Total non interest income $ 169.55 million
Total non interest expense $ 983.39 million
Pre-tax Net Operating Income N.A.

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 in Delaware, Discover Bank has a significantly higher percent of Credit Card 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 1.74
Multifamily
Mortgages
0.00
Credit Card Loans 85.57
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 0.20
Farm Loans 0.00

Frequently Asked Questions About Discover Bank

Branches and Savings

Is Discover Bank FDIC insured?

Yes. It is covered under FDIC Certificate #5649.

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

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

Why are Discover Bank CD rates not competitive?

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

Is Discover Bank a commercial bank?

Yes

Where are Discover Bank locations?

See branch locations nearby.

Is Discover Bank open on Saturdays?

Is Discover Bank open on Sundays?

What time does Discover Bank open?

What time does Discover Bank close?

Are Discover Bank ATMs Open 24/7?

Do Discover Bank ATMs accept cash deposits?

Can Discover Bank customers use other ATMs?

Do Discover Bank branches have notaries?

Will Discover Bank notarize my document?

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

Will the Discover Bank branch print checks?

Do Discover Bank checks expire?

Does Discover Bank require US citizenship to open account?

Can Discover Bank close my account?

Does Discover Bank Report to credit bureaus?

Does Discover Bank Use Equifax?

What is Discover Bank's ACH Routing Number?

What is Discover Bank's SWIFT code?

Products

Does Discover Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Discover Bank offer personal loans?

Compare personal loan rates here.

Does Discover Bank offer student loans?

Will Discover Bank cash a check?

Will Discover Bank redeem a savings bond?

Does Discover Bank cash savings bonds?

Will Discover Bank cash money orders?

Can Discover Bank issue a money order?

Does Discover Bank do currency exchange?

Background on The Bank

Who owns Discover Bank?

How long has Discover Bank been around?

Can Discover Bank transfer to other banks?

Does Discover Bank have quick pay?

Does Discover Bank accept rolled coins?

Will Discover Bank accept loose change?

Where is Discover Bank headquarters?

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