New York Commercial Bank

Headquarters

615 Merrick Ave.
Westbury, NY 11590
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

New York Commercial Bank is an FDIC insured institution located in Westbury, NY. It was founded in 1990 and has approximately $3.45 billion in assets. Customers can open an account at one of its 31 branches.

FDIC Insured Yes
FDIC Certificate # 32749
Date Established 1990
Assets $ 3.36 billion
Loans $ 2.80 billion
Deposits $ 2.80 billion
Capital $ 610.67 million
 

For a more detailed analysis of New York Commercial 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


Loan Rates - October 28, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for New York Commercial 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

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NMLS ID: 2890
License#: MC-3098
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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

Note to New York Commercial Bank
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Branches

New York Commercial 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


New York Commercial Bank Locations


Financial Details

New York Commercial Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of New York Commercial 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
New York Commercial Bank U.S. Bank Average
7.1% 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, New York Commercial Bank had $45,123,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $610,673,000 in equity and $25,129,000 in loans loss reserves. That gives it a Texas Ratio of 7.1%.

Return on Equity
New York Commercial Bank U.S. Bank Average
1.5% 7.80%

New York Commercial Bank has a Return on Equity of 1.5% 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
New York Commercial Bank U.S. Bank Average
18.18% 12.68%

New York Commercial Bank has a Capitalization of 18.18% 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.

New York Commercial Bank Balance Sheet Analysis

As of September 30, 2018, New York Commercial Bank had assets of $3,452,289,000, loans of $2,795,697,000, and deposits of $2,801,168,000. 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 $ 81.06 million
Interest-bearing balances $ 44.37 million
Total securities $ 209.44 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.80 billion
Loan loss allowance $ 25.13 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 225.97 million
All other assets $ 116.82 million
     Total Assets $ 2.84 billion
LIABILITIES
Total deposits $ 2.80 billion
      Interest-bearing deposits $ 2.36 billion
      Deposits held in domestic offices $ 2.80 billion
      % insured (estimated) 44.71%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 26.52 million
Subordinated debt N.A.
All other liabilities $ 13.93 million
      Total Liabilities $ 2.84 billion
      Shareholders’ Equity $ 516.56 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 85.76 million
Total Interest Expense $ 19.69 million
Net interest income $ 66.07 million
Provision for loan and lease losses $ 12.51 million
Total non interest income $ 5.48 million
Total non interest expense $ 47.47 million
Pre-tax Net Operating Income $ 11.57 million

Bank Loan Profile?

The top three loan types in New York Commercial Bank’s loan portfolio are Multifamily Mortgages, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks in New York, New York Commercial Bank has a significantly higher percent of Multifamily Mortgages 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 0.26
Multifamily
Mortgages
66.19
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 1.49
Construction and Development Loans 0.10
Commercial Real Estate 19.51
Commercial and Industrial Loans 14.22
Farm Loans 0.00

Frequently Asked Questions About New York Commercial Bank

Branches and Savings

Is New York Commercial Bank FDIC insured?

Yes. It is covered under FDIC Certificate #32749.

Why does New York Commercial Bank pay such low interest on savings accounts?

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

Why are New York Commercial Bank CD rates not competitive?

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

Is New York Commercial Bank a commercial bank?

Yes

Where are New York Commercial Bank locations?

See branch locations nearby.

Is New York Commercial Bank open on Saturdays?

Is New York Commercial Bank open on Sundays?

What time does New York Commercial Bank open?

What time does New York Commercial Bank close?

Are New York Commercial Bank ATMs Open 24/7?

Do New York Commercial Bank ATMs accept cash deposits?

Can New York Commercial Bank customers use other ATMs?

Do New York Commercial Bank branches have notaries?

Will New York Commercial Bank notarize my document?

What address for New York Commercial Bank should I put for incoming ACH transfers?

Will the New York Commercial Bank branch print checks?

Do New York Commercial Bank checks expire?

Does New York Commercial Bank require US citizenship to open account?

Can New York Commercial Bank close my account?

Does New York Commercial Bank Report to credit bureaus?

Does New York Commercial Bank Use Equifax?

What is New York Commercial Bank's ACH Routing Number?

What is New York Commercial Bank's SWIFT code?

Products

Does New York Commercial Bank offer mortgages?

Compare mortgage rates here.

Does New York Commercial Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does New York Commercial Bank offer personal loans?

Compare personal loan rates here.

Does New York Commercial Bank offer student loans?

Will New York Commercial Bank cash a check?

Will New York Commercial Bank redeem a savings bond?

Does New York Commercial Bank cash savings bonds?

Will New York Commercial Bank cash money orders?

Can New York Commercial Bank issue a money order?

Does New York Commercial Bank do currency exchange?

Background on The Bank

Who owns New York Commercial Bank?

How long has New York Commercial Bank been around?

Can New York Commercial Bank transfer to other banks?

Does New York Commercial Bank have quick pay?

Does New York Commercial Bank accept rolled coins?

Will New York Commercial Bank accept loose change?

Where is New York Commercial Bank headquarters?

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