Open Bank

Headquarters

1000 Wilshire Boulevard, Suite 100
Los Angeles, CA 90017
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.25% 1.40% →
1-Year CD 0.40% 1.15% →
2-Year CD 0.75% 1.26% →
5-Year CD N.A. 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

Open Bank is an FDIC insured institution located in Los Angeles, CA. It was founded in 2005 and has approximately $1.18 billion in assets. Customers can open an account at one of its 7 branches.

FDIC Insured Yes
FDIC Certificate # 57944
Date Established 2005
Assets $ 1,179.38 million
Loans $ 982.19 million
Deposits $ 1,022.93 million
Capital $ 138.30 million
 

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

Deposit Rates - July 5, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.25% $500 - Learn More
Money Market
0.10% $2,500 $9,999 Learn More
Money Market
0.10% $10,000 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.20% $1,000 - Learn More
6 Mo CD
0.30% $1,000 - Learn More
12 Mo CD
0.40% $1,000 - Learn More
18 Mo CD
0.75% $1,000 - Learn More
24 Mo CD
0.75% $1,000 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.40% $1,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
0.10% $10 $9,999 Learn MoreShow Less

Loan Rates - July 5, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Open 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
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NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 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
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
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Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
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Note to Open Bank
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Branches

Open 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


Open Bank Locations


Financial Details

Open Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Open 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
Open Bank U.S. Bank Average
0.82% 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, Open Bank had $1,219,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $138,303,000 in equity and $10,050,000 in loans loss reserves. That gives it a Texas Ratio of 0.82%.

Return on Equity
Open Bank U.S. Bank Average
13.08% 9.41%

Open Bank has a Return on Equity of 13.08% 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
Open Bank U.S. Bank Average
11.73% 12.82%

Open Bank has a Capitalization of 11.73% 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.

Open Bank Balance Sheet Analysis

As of December 31, 2019, Open Bank had assets of $1,179,378,000, loans of $982,188,000, and deposits of $1,022,929,000. 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 $ 86.04 million
Interest-bearing balances $ 74.12 million
Total securities $ 60.18 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 982.19 million
Loan loss allowance $ 10.05 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 7.02 million
All other assets $ 30.68 million
     Total Assets $ 1,041.08 million
LIABILITIES
Total deposits $ 1,022.93 million
      Interest-bearing deposits $ 726.43 million
      Deposits held in domestic offices $ 1,022.93 million
      % insured (estimated) 57.75%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 18.15 million
      Total Liabilities $ 1,041.08 million
      Shareholders’ Equity $ 138.30 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 58.78 million
Total Interest Expense $ 14.51 million
Net interest income $ 44.27 million
Provision for loan and lease losses $ 1.10 million
Total non interest income $ 11.35 million
Total non interest expense $ 31.51 million
Pre-tax Net Operating Income $ 23.02 million

Bank Loan Profile?

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

Compared to other banks in California, Open Bank has a significantly higher percent of 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 12.52
Multifamily
Mortgages
0.67
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 9.12
Construction and Development Loans 0.56
Commercial Real Estate 75.71
Commercial and Industrial Loans 11.18
Farm Loans 0.00

Frequently Asked Questions About Open Bank

Branches and Savings

Is Open Bank FDIC insured?

Yes. It is covered under FDIC Certificate #57944.

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

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

Why are Open Bank CD rates not competitive?

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

Is Open Bank a commercial bank?

Yes

Where are Open Bank locations?

See branch locations nearby.

Is Open Bank open on Saturdays?

Is Open Bank open on Sundays?

What time does Open Bank open?

What time does Open Bank close?

Are Open Bank ATMs Open 24/7?

Do Open Bank ATMs accept cash deposits?

Can Open Bank customers use other ATMs?

Do Open Bank branches have notaries?

Will Open Bank notarize my document?

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

Will the Open Bank branch print checks?

Do Open Bank checks expire?

Does Open Bank require US citizenship to open account?

Can Open Bank close my account?

Does Open Bank Report to credit bureaus?

Does Open Bank Use Equifax?

What is Open Bank's ACH Routing Number?

What is Open Bank's SWIFT code?

Products

Does Open Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Open Bank offer personal loans?

Compare personal loan rates here.

Does Open Bank offer student loans?

Will Open Bank cash a check?

Will Open Bank redeem a savings bond?

Does Open Bank cash savings bonds?

Will Open Bank cash money orders?

Can Open Bank issue a money order?

Does Open Bank do currency exchange?

Background on The Bank

Who owns Open Bank?

How long has Open Bank been around?

Can Open Bank transfer to other banks?

Does Open Bank have quick pay?

Does Open Bank accept rolled coins?

Will Open Bank accept loose change?

Where is Open Bank headquarters?

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