Emigrant Bank

Headquarters

5 East 42nd Street
New York, NY 10017
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.40% 1.40% →
1-Year CD 0.70% 1.15% →
2-Year CD 1.10% 1.26% →
5-Year CD 1.20% 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Emigrant Bank is an FDIC insured institution located in New York, NY. It was founded in 1850 and has approximately $5.95 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 12054
Date Established 1850
Assets $ 5.95 billion
Loans $ 4.40 billion
Deposits $ 4.59 billion
Capital $ 1,207.44 million
 

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

Deposit Rates - July 6, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.40% $100 - Learn More
Money Market
0.40% $2,500 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.30% $1,000 - Learn More
6 Mo CD
0.50% $1,000 - Learn More
12 Mo CD
0.70% $1,000 - Learn More
18 Mo CD
1.00% $1,000 - Learn More
24 Mo CD
1.10% $1,000 - Learn More
30 Mo CD
1.10% $1,000 - Learn More
36 Mo CD
1.20% $1,000 - Learn More
48 Mo CD
1.20% $1,000 - Learn More
Special: 60 Mo CD
1.20% $1,000 - Learn More
60 Mo CD
1.20% $1,000 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.70% $1,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.15% $1 $2,499 Learn MoreShow Less
Int Ckg
0.25% $2,500 - Learn MoreShow Less

Online Only Savings Rates of My Savings Direct, a division of Emigrant Bank

Online Savings Rates APY MIN MAX
Online Savings Account
0.85% $1 - Learn More

Online Only Savings Rates of Dollar Savings Direct, a division of Emigrant Bank

Online Savings Rates APY MIN MAX
High Interest Savings Account
1.00% $0 - Learn More

Online Only CD Rates of My Savings Direct, a division of Emigrant Bank

Online CD Rates APY MIN MAX
6 Month CD
1.00% $1,000 - Learn More
30 Month CD
1.10% $1,000 - Learn More

Online Only CD Rates of Dollar Savings Direct, a division of Emigrant Bank

Online CD Rates APY MIN MAX
12 Month CD
1.00% $1,000 - Learn More
16 Month CD
1.00% $1,000 - Learn More
24 Month CD
1.10% $1,000 - Learn More
60 Month CD
1.20% $1,000 - Learn More

Bank Online Offers

My Savings Direct Raises Online Savings Rate to 2.40%
Dec 5, 2018

My Savings Direct, a division of Emigrant Bank, has raised their online savings rate to 2.40%.   This is currently the best online savings rate available nationally.   


My Savings Direct Lowers Online Savings Rate to 1.90% APY
Dec 5, 2019

My Savings Direct, a division of Emigrant Direct, has lowered its online savings rate from 2.00 to 1.90% APY.   While the rate is still competititve, it feels like we are a long way from this past summer with this bank topped out at 2.50% APY.


My Savings Direct Lowers Online Savings Rate to 1.80% APY
Jan 7, 2020

My Savings Direct has lowered its online savings rate to 1.80% APY.   The Emigrant Direct subsidiary's rate is now a far cry from where it peaked at 2.50% in the Spring of 2019.


My Savings Direct Continues to Lower Its Savings Rates
Mar 12, 2020

My Savings Direct, a division of Emigrant, is continuing its drip-drip-drip lowering of savings rates with rates now at 1.60% APY.   While a lowering of rates is perfectly understandable in the current environment, it is disappointing to long-term customers as Emigrant is currently offering a 1.80% APY rate in its Dollar Savings Direct accounts.


Emigrant Drops Dollar Savings Direct to 1.50% APY and My Savings Direct to 1% APY
Mar 17, 2020

Emigrant has dropped the savings rate offered by both of its online banking subsidiaries.


Dollar Savings Direct Lowers Savings to 1.30% APY
Jun 16, 2020

This Emigrant bank subsidiary has lowered its savings rate by 10 basis points for the second time in a week.


Dollar Savings Direct Lowers Savings to 1.20% APY
Jun 24, 2020

This is the bank's third 10 basis point cut in less than 3 weeks.   Whereas most banks make quick cuts, this Emigrant subsidiary seems to opt for something akin to water torture.


Dollar Savings Direct Lowers Savings to 1.10% APY
Jun 25, 2020

This 10 basis point drop follows a 10 basis point drop two days ago, and 2 earlier ones within the last two weeks.   Drip, drip, drip.


Dollar Savings Direct Lowers Savings to 1.00% APY
Jun 30, 2020

Dollar Savings Direct has made its 5th 10 basis point rate drop this month, leaving its online savings rate at 1.00% APY.



Loan Rates - July 6, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Emigrant 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
3.039% 3.000% 0.50 $1,250 $1,055 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
2.990 %
$0 Learn More
More Info

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

Branches

Emigrant 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


Emigrant Bank Locations


Financial Details

Emigrant Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Emigrant 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
Emigrant Bank U.S. Bank Average
14.39% 6.51%

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, 2019, Emigrant Bank had $168,799,000 in non-current loans and $14,049,000 in owned real estate. To cover these potential losses it had $1,207,437,000 in equity and $63,163,000 in loans loss reserves. That gives it a Texas Ratio of 14.39%.

Return on Equity
Emigrant Bank U.S. Bank Average
5.31% 9.41%

Emigrant Bank has a Return on Equity of 5.31% versus the BestCashCow average of 9.41%. 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
Emigrant Bank U.S. Bank Average
20.28% 12.82%

Emigrant Bank has a Capitalization of 20.28% versus the BestCashCow average of 12.82. 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.

Emigrant Bank Balance Sheet Analysis

As of December 31, 2019, Emigrant Bank had assets of $5,953,769,000, loans of $4,398,132,000, and deposits of $4,594,842,000. 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, 2019
ASSETS
Cash & Balances due from depository institutions $ 276.89 million
Interest-bearing balances $ 263.05 million
Total securities $ 537.42 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 4.40 billion
Loan loss allowance $ 63.16 million
Trading account assets $ 0.33 million
Bank premises and fixed assets N.A.
Other real estate owned $ 14.05 million
Goodwill and other intangibles $ 104.13 million
All other assets $ 492.70 million
     Total Assets $ 4.75 billion
LIABILITIES
Total deposits $ 4.59 billion
      Interest-bearing deposits $ 4.43 billion
      Deposits held in domestic offices $ 4.59 billion
      % insured (estimated) 85.78%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 70.00 million
Subordinated debt N.A.
All other liabilities $ 81.49 million
      Total Liabilities $ 4.75 billion
      Shareholders’ Equity $ 1,207.44 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 306.76 million
Total Interest Expense $ 71.33 million
Net interest income $ 235.43 million
Provision for loan and lease losses $ 7.88 million
Total non interest income $ 65.04 million
Total non interest expense $ 206.63 million
Pre-tax Net Operating Income $ 85.97 million

Bank Loan Profile?

The top three loan types in Emigrant Bank’s loan portfolio are Commercial and Industrial Loans, 1-4 Family Residential Loans, and Commercial Real Estate.

Compared to other banks in New York, Emigrant Bank has a significantly higher percent of 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 21.22
Multifamily
Mortgages
10.21
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 7.95
Construction and Development Loans 7.34
Commercial Real Estate 15.37
Commercial and Industrial Loans 43.54
Farm Loans 0.00

Frequently Asked Questions About Emigrant Bank

Branches and Savings

Is Emigrant Bank FDIC insured?

Yes. It is covered under FDIC Certificate #12054.

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

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

Why are Emigrant Bank CD rates not competitive?

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

Is Emigrant Bank a commercial bank?

Yes

Where are Emigrant Bank locations?

See branch locations nearby.

Is Emigrant Bank open on Saturdays?

Is Emigrant Bank open on Sundays?

What time does Emigrant Bank open?

What time does Emigrant Bank close?

Are Emigrant Bank ATMs Open 24/7?

Do Emigrant Bank ATMs accept cash deposits?

Can Emigrant Bank customers use other ATMs?

Do Emigrant Bank branches have notaries?

Will Emigrant Bank notarize my document?

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

Will the Emigrant Bank branch print checks?

Do Emigrant Bank checks expire?

Does Emigrant Bank require US citizenship to open account?

Can Emigrant Bank close my account?

Does Emigrant Bank Report to credit bureaus?

Does Emigrant Bank Use Equifax?

What is Emigrant Bank's ACH Routing Number?

What is Emigrant Bank's SWIFT code?

Products

Does Emigrant Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Emigrant Bank offer personal loans?

Compare personal loan rates here.

Does Emigrant Bank offer student loans?

Will Emigrant Bank cash a check?

Will Emigrant Bank redeem a savings bond?

Does Emigrant Bank cash savings bonds?

Will Emigrant Bank cash money orders?

Can Emigrant Bank issue a money order?

Does Emigrant Bank do currency exchange?

Background on The Bank

Who owns Emigrant Bank?

How long has Emigrant Bank been around?

Can Emigrant Bank transfer to other banks?

Does Emigrant Bank have quick pay?

Does Emigrant Bank accept rolled coins?

Will Emigrant Bank accept loose change?

Where is Emigrant Bank headquarters?

Customer Reviews for Emigrant Bank


  • June 14, 2017 |

    Thanks guys for being honest and truthful...I'll put my money elsewhere...I don't need any more headaches...

  • July 13, 2016

    Your bank in Ossining nu has displayed extremely poor taste neglecting too fly the flag at half staff in light of the assimilation of the 5 police officers in Dallas, especially as it is one of the villages most visible locations

  • September 22, 2015

    Typical Emigrant bank. Begin with a great rate, then make a big reduction. All down hill from here.

  • September 15, 2015

    Yeap 1.25% must have been a con game now 1.10%.

  • September 14, 2015

    Just lowered their rate to 1.10%!

Add Your Review

Rate it here →