Great Eastern Bank of Florida

Headquarters

4601 N.W. 72nd Avenue
Miami, FL 33166
See all branch locations →

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

Great Eastern Bank of Florida is an FDIC insured institution located in Miami, FL. It was founded in 1994 and has approximately $0.05 billion in assets.

FDIC Insured Yes
FDIC Certificate # 33872
Date Established 1994
Assets $ 45.60 million
Loans $ 31.95 million
Deposits $ 39.75 million
Capital $ 4.85 million
 

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

Deposit Rates - October 25, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - October 25, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Great Eastern Bank of Florida

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

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Payment
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1Rate, Inc
NMLS ID: 1948084
License#: MC-7051
2.567% 2.500% 0.88 $2,216 $988 Learn More
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NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
AimLoan.com
NMLS ID: 2890
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2.575% 2.500% 1.00 $2,470 $988 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

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Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info

Note to Great Eastern Bank of Florida
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Branches

Great Eastern Bank of Florida 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


Great Eastern Bank of Florida Locations


Financial Details

Great Eastern Bank of Florida Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Great Eastern Bank of Florida. 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
Great Eastern Bank of Florida U.S. Bank Average
58.31% 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, Great Eastern Bank of Florida had $293,000 in non-current loans and $2,908,000 in owned real estate. To cover these potential losses it had $4,853,000 in equity and $637,000 in loans loss reserves. That gives it a Texas Ratio of 58.31%.

Return on Equity
Great Eastern Bank of Florida U.S. Bank Average
-26.12% 7.80%

Great Eastern Bank of Florida has a Return on Equity of -26.12% 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
Great Eastern Bank of Florida U.S. Bank Average
10.64% 12.68%

Great Eastern Bank of Florida has a Capitalization of 10.64% 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.

Great Eastern Bank of Florida Balance Sheet Analysis

As of March 31, 2013, Great Eastern Bank of Florida had assets of $45,598,000, loans of $31,953,000, and deposits of $39,752,000. 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 N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 31.95 million
Loan loss allowance $ 0.64 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 2.91 million
Goodwill and other intangibles N.A.
All other assets N.A.
     Total Assets N.A.
LIABILITIES
Total deposits $ 39.75 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 45.60 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Great Eastern Bank of Florida’s loan portfolio are Commercial Real Estate, Small Business Loans, and 1-4 Family Residential Loans.

Compared to other banks in Florida, Great Eastern Bank of Florida has a significantly higher percent of Small Business Loans, Commercial Real Estate 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 12.90
Multifamily
Mortgages
0.00
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 33.61
Construction and Development Loans 0.92
Commercial Real Estate 71.49
Commercial and Industrial Loans 11.11
Farm Loans 0.00

Frequently Asked Questions About Great Eastern Bank Of Florida

Branches and Savings

Is Great Eastern Bank Of Florida FDIC insured?

Yes. It is covered under FDIC Certificate #33872.

Why does Great Eastern Bank Of Florida pay such low interest on savings accounts?

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

Why are Great Eastern Bank Of Florida CD rates not competitive?

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

Is Great Eastern Bank Of Florida a commercial bank?

Yes

Where are Great Eastern Bank Of Florida locations?

See branch locations nearby.

Is Great Eastern Bank Of Florida open on Saturdays?

Is Great Eastern Bank Of Florida open on Sundays?

What time does Great Eastern Bank Of Florida open?

What time does Great Eastern Bank Of Florida close?

Are Great Eastern Bank Of Florida ATMs Open 24/7?

Do Great Eastern Bank Of Florida ATMs accept cash deposits?

Can Great Eastern Bank Of Florida customers use other ATMs?

Do Great Eastern Bank Of Florida branches have notaries?

Will Great Eastern Bank Of Florida notarize my document?

What address for Great Eastern Bank Of Florida should I put for incoming ACH transfers?

Will the Great Eastern Bank Of Florida branch print checks?

Do Great Eastern Bank Of Florida checks expire?

Does Great Eastern Bank Of Florida require US citizenship to open account?

Can Great Eastern Bank Of Florida close my account?

Does Great Eastern Bank Of Florida Report to credit bureaus?

Does Great Eastern Bank Of Florida Use Equifax?

What is Great Eastern Bank Of Florida's ACH Routing Number?

What is Great Eastern Bank Of Florida's SWIFT code?

Products

Does Great Eastern Bank Of Florida offer mortgages?

Compare mortgage rates here.

Does Great Eastern Bank Of Florida offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Great Eastern Bank Of Florida offer personal loans?

Compare personal loan rates here.

Does Great Eastern Bank Of Florida offer student loans?

Will Great Eastern Bank Of Florida cash a check?

Will Great Eastern Bank Of Florida redeem a savings bond?

Does Great Eastern Bank Of Florida cash savings bonds?

Will Great Eastern Bank Of Florida cash money orders?

Can Great Eastern Bank Of Florida issue a money order?

Does Great Eastern Bank Of Florida do currency exchange?

Background on The Bank

Who owns Great Eastern Bank Of Florida?

How long has Great Eastern Bank Of Florida been around?

Can Great Eastern Bank Of Florida transfer to other banks?

Does Great Eastern Bank Of Florida have quick pay?

Does Great Eastern Bank Of Florida accept rolled coins?

Will Great Eastern Bank Of Florida accept loose change?

Where is Great Eastern Bank Of Florida headquarters?

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