Quontic Bank

logo for Quontic Bank
Headquarters

3105 Broadway
Astoria, NY 11106
See all branch locations →

Notable Rates APY Vs.Others
Savings 4.50% 5.55% →
1-Year CD 4.50% 5.41% →
2-Year CD 4.50% 4.95% →
5-Year CD 4.30% 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Quontic Bank is an FDIC insured institution located in Astoria, NY. It was founded in 2005 and has approximately $0.62 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 57807
Date Established 2005
Assets $ 621.67 million
Loans $ 442.25 million
Deposits $ 522.50 million
Capital $ 79.17 million
 

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

Deposit Rates - June 23, 2024

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Online Savings
4.50% $0 - Learn More
Money Market
5.00% $0 $149,999 Learn More
CD Rates APY MIN MAX
6 Month Online CD
5.05% $500 - Learn More
One-Year CD
4.50% $500 - Learn More
2-Year Online CD
4.50% $500 - Learn More
36 Month CD
4.40% $500 - Learn More
60 Month CD
4.30% $500 - Learn More

Int Checking Rates APY MIN MAX
Online Checking
1.10% $0 - Learn MoreShow Less

Bank Offers

Quontic Slashes Online Money Market Rate
Feb 20, 2020

Quontic Bank had been very competitive with its money market rate for deposits holding at 2.05% APY until now.   However, it has now slashed that rate to 1.76% APY.



Loan Rates - June 23, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Quontic 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 2024

Lender APR Rate (%) Monthly
Payment
Learn More
Tomo Mortgage, LLC.
NMLS ID: 2059741
6.501% 6.375%
0.75 points
$4,234 fees
$1,997 Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.730% 6.625%
0.88 points
$3,474 fees
$2,049 Learn More
New American Funding, LLC.
NMLS ID: 6606
6.843% 6.750%
1.00 points
$3,059 fees
$2,076 Learn More
PADDIO
NMLS ID: 1907
7.065% 6.875%
1.00 points
$6,202 fees
$2,103 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.990 %
$0 Learn More
More Info

Note to Quontic Bank
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Branches

Quontic 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


Quontic Bank Locations



Climate Policy and Initiatives

Quontic Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.


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Financial Details

Quontic Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Quontic 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
Quontic Bank U.S. Bank Average
30.01% 3.96%

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, 2024, Quontic Bank had $23,904,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $79,171,000 in equity and $479,000 in loans loss reserves. That gives it a Texas Ratio of 30.01%.

Return on Equity
Quontic Bank U.S. Bank Average
-1.21% 12.20%

Quontic Bank has a Return on Equity of -1.21% versus the BestCashCow average of 12.20%. 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
Quontic Bank U.S. Bank Average
12.74% 10.76%

Quontic Bank has a Capitalization of 12.74% versus the BestCashCow average of 10.76. 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.

Quontic Bank Balance Sheet Analysis

As of December 31, 2023, Quontic Bank had assets of $621,668,000, loans of $442,253,000, and deposits of $522,499,000. 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, 2024
ASSETS
Cash & Balances due from depository institutions $ 137.97 million
Interest-bearing balances $ 136.64 million
Total securities $ 4.60 million
Federal funds sold and reverse repurchase $ 0.08 million
Net loans and leases $ 442.25 million
Loan loss allowance $ 0.48 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 33.94 million
     Total Assets $ 542.50 million
LIABILITIES
Total deposits $ 522.50 million
      Interest-bearing deposits $ 511.68 million
      Deposits held in domestic offices $ 522.50 million
      % insured (estimated) 91.47%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 55.23 million
Subordinated debt N.A.
All other liabilities $ 19.15 million
      Total Liabilities $ 542.50 million
      Shareholders’ Equity $ 79.17 million

Summary Income Statement

December 31, 2024
INCOME AND EXPENSES
Total Interest Income $ 39.09 million
Total Interest Expense $ 16.41 million
Net interest income $ 22.69 million
Provision for loan and lease losses $ 0.23 million
Total non interest income $ 19.46 million
Total non interest expense $ 42.68 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

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

Compared to other banks in New York, Quontic Bank has a significantly higher percent of 1-4 Family Residential 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 100.00
Multifamily
Mortgages
0.45
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.18
Construction and Development Loans 0.00
Commercial Real Estate 1.24
Commercial and Industrial Loans 16.18
Farm Loans 0.00

Customer Reviews for Quontic Bank


  • March 17, 2023 |

    STAY AWAY !

    They closed my accounts with no warning.

    After multiple successful direct deposits and mobile checks deposits, they claimed one of the three checks I deposited a few days ago was fake. Not sure why. They won't say why. It was a legit payroll check.They actually accepted the other 2 checks. Same exact payroll company, same everything.

    But get this. Instead of reaching out, or rejecting the deposit, they simply closed all my accounts and cutoff all access to my funds. I can't even look at my account info online. No warning.

    And even after many calls back ad forward, they now understand it's not my fault and that there was no intention to defraud. Yet they are still closing my accounts and refusing to even let me look at balances, etc...

    They are sending me a check (yes, really) for the balance of my accounts. Will not tell me how much.

    This is absolutely insane.

    DO NOT DO BUSINESS WITH THEM.
    YOU WILL REGRET IT.

  • February 15, 2021 |

    Online Savings Rates

    Borrowing in USD and lending in BTC, what could possibly go wrong??? (You are the lender in USD).

  • February 12, 2021 |

    Online Savings Rates

    I opened a CD last summer and received well below the contracted rate due to their delay, not mine. I discovered it months later and had no recourse. I am bombarded with ads and other promotions. i have even received phone calls from India that I believe originate from opening this account. I feel like the victim of a phishing operation.

  • February 10, 2021 |

    Online Savings Rates

    Bitcoin is a mugs game and since this bank is all about bitcoin, I think it might be too!

  • February 2, 2021 |

    Opened up a savings account and my rate is double what I had with my last account. Sign up was super easy so so far so good with Quontic!


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