146-01 Northern Boulevard
Flushing, NY 11354
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Notable Rates APY Vs.Others
Savings 0.15% 0.95% →
1-Year CD 0.75% 1.01% →
2-Year CD 0.75% 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

NewBank is an FDIC insured institution located in Flushing, NY. It was founded in 2006 and has approximately $0.44 billion in assets. Customers can open an account at one of its 5 branches.

FDIC Insured Yes
FDIC Certificate # 58203
Date Established 2006
Assets $ 440.20 million
Loans $ 239.63 million
Deposits $ 378.88 million
Capital $ 49.65 million

For a more detailed analysis of NewBank'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: Washington, WA 98101

Savings and Money Market Rates APY MIN MAX
0.15% $2,500 $4,999 Learn More
Money Market
0.15% $2,500 $2,999 Learn More
Money Market
0.15% $10,000 $14,999 Learn More
Money Market
0.25% $25,000 $29,999 Learn More
3 Mo CD
0.25% $10,000 $14,999 Learn More
3 Mo CD
0.25% $100,000 $199,999 Learn More
6 Mo CD
0.35% $10,000 $14,999 Learn More
6 Mo CD
0.35% $100,000 $199,999 Learn More
12 Mo CD
0.75% $10,000 $14,999 Learn More
12 Mo CD
0.75% $100,000 $199,999 Learn More
24 Mo CD
0.75% $10,000 $14,999 Learn More
24 Mo CD
0.75% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less

Loan Rates - October 25, 2020

Your Current Location: Washington, WA 98101

There are currently no loan rates available for NewBank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Washington 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
NMLS ID: 2890
License#: 520-CL-25944
2.575% 2.500% 1.00 $2,470 $988 Learn More
Cascadia Mortgage
NMLS ID: 1505422
License#: NMLS #1505422
2.830% 2.750% 0.63 $2,622 $1,021 Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More

Featured - Washington Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More

Note to NewBank
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Financial Details

NewBank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of NewBank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
NewBank U.S. Bank Average
10.13% 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, NewBank had $5,339,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $49,648,000 in equity and $3,044,000 in loans loss reserves. That gives it a Texas Ratio of 10.13%.

Return on Equity
NewBank U.S. Bank Average
8.24% 7.80%

NewBank has a Return on Equity of 8.24% 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.

NewBank U.S. Bank Average
11.28% 12.68%

NewBank has a Capitalization of 11.28% 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.

NewBank Balance Sheet Analysis

As of March 31, 2020, NewBank had assets of $440,198,000, loans of $239,631,000, and deposits of $378,881,000. 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
Cash & Balances due from depository institutions $ 190.61 million
Interest-bearing balances $ 186.20 million
Total securities $ 0.05 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 239.63 million
Loan loss allowance $ 3.04 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.42 million
All other assets $ 7.03 million
     Total Assets $ 390.55 million
Total deposits $ 378.88 million
      Interest-bearing deposits $ 277.28 million
      Deposits held in domestic offices $ 378.88 million
      % insured (estimated) 65.57%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 3.00 million
Subordinated debt N.A.
All other liabilities $ 8.67 million
      Total Liabilities $ 390.55 million
      Shareholders’ Equity $ 49.65 million

Summary Income Statement

March 31, 2020
Total Interest Income $ 4.80 million
Total Interest Expense $ 1.65 million
Net interest income $ 3.15 million
Provision for loan and lease losses $ 0.40 million
Total non interest income $ 1.16 million
Total non interest expense $ 2.78 million
Pre-tax Net Operating Income $ 1.13 million

Bank Loan Profile?

The top three loan types in NewBank’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and Construction and Development Loans.

Compared to other banks in New York, NewBank has a significantly higher percent of Commercial Real Estate, 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 0.27
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 3.54
Commercial Real Estate 58.08
Commercial and Industrial Loans 39.04
Farm Loans 0.00

Frequently Asked Questions About Newbank

Branches and Savings

Is Newbank FDIC insured?

Yes. It is covered under FDIC Certificate #58203.

Why does Newbank pay such low interest on savings accounts?

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

Why are Newbank CD rates not competitive?

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

Is Newbank a commercial bank?


Where are Newbank locations?

See branch locations nearby.

Is Newbank open on Saturdays?

Is Newbank open on Sundays?

What time does Newbank open?

What time does Newbank close?

Are Newbank ATMs Open 24/7?

Do Newbank ATMs accept cash deposits?

Can Newbank customers use other ATMs?

Do Newbank branches have notaries?

Will Newbank notarize my document?

What address for Newbank should I put for incoming ACH transfers?

Will the Newbank branch print checks?

Do Newbank checks expire?

Does Newbank require US citizenship to open account?

Can Newbank close my account?

Does Newbank Report to credit bureaus?

Does Newbank Use Equifax?

What is Newbank's ACH Routing Number?

What is Newbank's SWIFT code?


Does Newbank offer mortgages?

Compare mortgage rates here.

Does Newbank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Newbank offer personal loans?

Compare personal loan rates here.

Does Newbank offer student loans?

Will Newbank cash a check?

Will Newbank redeem a savings bond?

Does Newbank cash savings bonds?

Will Newbank cash money orders?

Can Newbank issue a money order?

Does Newbank do currency exchange?

Background on The Bank

Who owns Newbank?

How long has Newbank been around?

Can Newbank transfer to other banks?

Does Newbank have quick pay?

Does Newbank accept rolled coins?

Will Newbank accept loose change?

Where is Newbank headquarters?

Customer Reviews for NewBank

  • October 16, 2018 |

    CDs 12 Month Rates

    excellent and friendly service

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