Ridgewood Savings Bank

7102 Forest Avenue
Ridgewood, NY 11385

Notable Rates APY Vs.Others
Savings 1.50% 2.10% →
1-Year CD N.A. 2.02% →
2-Year CD N.A. 2.02% →
5-Year CD N.A. 2.02% →
30-Year Mortgage 4.05% 3.03% →
15-Year Mortgage 3.58% 2.77% →
HELOC N.A. 3.25% →

2020 Overview

General Bank Information

Ridgewood Savings Bank is an FDIC insured institution located in Ridgewood, NY. It was founded in 1921 and has approximately $5.74 billion in assets. Customers can open an account at one of its 39 branches.

FDIC Insured Yes
FDIC Certificate # 16026
Date Established 1921
Assets $5.74 billion
Loans $3.93 billion
Deposits $4.45 billion
Capital $0.77 billion

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

Loan Rates - March 28, 2020

Your Current Location: Connecticut, CT 06828

Home Equity Rates APR Rate Monthly Payment
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.


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Financial Details

Ridgewood Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Ridgewood Savings 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
Ridgewood Savings Bank U.S. Bank Average
4.03% 6.70%

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 September 30, 2019, Ridgewood Savings Bank had $32,050,000 in non-current loans and $38,000 in owned real estate. To cover these potential losses it had $774,478,000 in equity and $20,979,000 in loans loss reserves. That gives it a Texas Ratio of 4.03%.

Return on Equity
Ridgewood Savings Bank U.S. Bank Average
6.36% 9.72%

Ridgewood Savings Bank has a Return on Equity of 6.36% versus the BestCashCow average of 9.72%. 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.

Ridgewood Savings Bank U.S. Bank Average
13.5% 12.89%

Ridgewood Savings Bank has a Capitalization of 13.5% versus the BestCashCow average of 12.89. 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.

Ridgewood Savings Bank Balance Sheet Analysis

As of September 30, 2019, Ridgewood Savings Bank had assets of $5,737,288,000, loans of $3,929,475,000, and deposits of $4,450,614,000. 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

September 30, 2019
Cash & Balances due from depository institutions $0.24 billion
Interest-bearing balances $0.20 billion
Total securities $1.29 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $3.93 billion
Loan loss allowance $0.02 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.08 billion
All other assets $0.18 billion
     Total Assets $4.96 billion
Total deposits $4.45 billion
      Interest-bearing deposits $4.06 billion
      Deposits held in domestic offices $4.45 billion
      % insured (estimated) 92.11%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.43 billion
Subordinated debt $0.00 billion
All other liabilities $0.08 billion
      Total Liabilities $4.96 billion
      Shareholders’ Equity $0.77 billion

Summary Income Statement

September 30, 2019
Total Interest Income $0.14 billion
Total Interest Expense $0.04 billion
Net interest income $0.09 billion
Provision for loan and lease losses $-0.00 billion
Total non interest income $0.01 billion
Total non interest expense $0.07 billion
Pre-tax Net Operating Income $0.03 billion

Bank Loan Profile?

The top three loan types in Ridgewood Savings Bank’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Commercial Real Estate.

Compared to other banks in New York, Ridgewood Savings 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 51.86
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.44
Construction and Development Loans 0.00
Commercial Real Estate 5.28
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Frequently Asked Questions About Ridgewood Savings Bank

Branches and Savings

Is Ridgewood Savings Bank FDIC insured?

Yes. It is covered under FDIC Certificate #16026.

Why does Ridgewood Savings Bank pay such low interest on savings accounts?

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

Why are Ridgewood Savings Bank CD rates not competitive?

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

Is Ridgewood Savings Bank a commercial bank?


Where are Ridgewood Savings Bank locations?

See branch locations nearby.

Is Ridgewood Savings Bank open on Saturdays?

Is Ridgewood Savings Bank open on Sundays?

What time does Ridgewood Savings Bank open?

What time does Ridgewood Savings Bank close?

Are Ridgewood Savings Bank ATMs Open 24/7?

Do Ridgewood Savings Bank ATMs accept cash deposits?

Can Ridgewood Savings Bank customers use other ATMs?

Do Ridgewood Savings Bank branches have notaries?

Will Ridgewood Savings Bank notarize my document?

What address for Ridgewood Savings Bank should I put for incoming ACH transfers?

Will the Ridgewood Savings Bank branch print checks?

Do Ridgewood Savings Bank checks expire?

Does Ridgewood Savings Bank require US citizenship to open account?

Can Ridgewood Savings Bank close my account?

Does Ridgewood Savings Bank Report to credit bureaus?

Does Ridgewood Savings Bank Use Equifax?

What is Ridgewood Savings Bank's ACH Routing Number?

What is Ridgewood Savings Bank's SWIFT code?


Does Ridgewood Savings Bank offer mortgages?

Compare mortgage rates here.

Does Ridgewood Savings Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Ridgewood Savings Bank offer personal loans?

Compare personal loan rates here.

Does Ridgewood Savings Bank offer student loans?

Will Ridgewood Savings Bank cash a check?

Will Ridgewood Savings Bank redeem a savings bond?

Does Ridgewood Savings Bank cash savings bonds?

Will Ridgewood Savings Bank cash money orders?

Can Ridgewood Savings Bank issue a money order?

Does Ridgewood Savings Bank do currency exchange?

Background on The Bank

Who owns Ridgewood Savings Bank?

How long has Ridgewood Savings Bank been around?

Can Ridgewood Savings Bank transfer to other banks?

Does Ridgewood Savings Bank have quick pay?

Does Ridgewood Savings Bank accept rolled coins?

Will Ridgewood Savings Bank accept loose change?

Where is Ridgewood Savings Bank headquarters?

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