Spring Bank

Headquarters

69 East 167th Street
Bronx, NY 10452
See all branch locations →

Spring Bank
Notable Rates APY Vs.Others
Savings 0.70% 0.95% →
1-Year CD 1.00% 1.01% →
2-Year CD 1.05% 0.95% →
5-Year CD 1.20% 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

Spring Bank is an FDIC insured institution located in Bronx, NY. It was founded in 2007 and has approximately $0.21 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 58668
Date Established 2007
Assets $ 212.59 million
Loans $ 154.70 million
Deposits $ 180.37 million
Capital $ 25.98 million
 

For a more detailed analysis of Spring Bank'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
Savings
0.70% $2,500 $4,999 Learn More
Money Market
0.75% $100 $1,000,000 Learn More
Money Market
0.60% $2,500 $2,999 Learn More
Money Market
0.60% $10,000 $14,999 Learn More
Money Market
0.60% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.30% $10,000 $14,999 Learn More
3 Mo CD
0.30% $100,000 $199,999 Learn More
6 Mo CD
0.50% $10,000 $14,999 Learn More
6 Mo CD
0.50% $100,000 $199,999 Learn More
12 Mo CD
1.00% $10,000 $14,999 Learn More
12 Mo CD
1.00% $100,000 $199,999 Learn More
18 Mo CD
1.05% $10,000 $14,999 Learn More
18 Mo CD
1.05% $100,000 $199,999 Learn More
24 Mo CD
1.05% $10,000 $14,999 Learn More
24 Mo CD
1.05% $100,000 $199,999 Learn More
36 Mo CD
1.10% $10,000 $14,999 Learn More
36 Mo CD
1.10% $100,000 $199,999 Learn More
48 Mo CD
1.15% $10,000 $14,999 Learn More
48 Mo CD
1.15% $100,000 $199,999 Learn More
60 Mo CD
1.20% $10,000 $14,999 Learn More
60 Mo CD
1.20% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.25% $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 Spring Bank

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
Payment
Learn More
AimLoan.com
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 Spring Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Spring 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:
Seattle,Washington


Spring Bank Locations


Financial Details

Spring Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Spring 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
Spring Bank U.S. Bank Average
9.13% 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, Spring Bank had $1,742,000 in non-current loans and $744,000 in owned real estate. To cover these potential losses it had $25,984,000 in equity and $1,258,000 in loans loss reserves. That gives it a Texas Ratio of 9.13%.

Return on Equity
Spring Bank U.S. Bank Average
6.59% 7.80%

Spring Bank has a Return on Equity of 6.59% 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
Spring Bank U.S. Bank Average
12.22% 12.68%

Spring Bank has a Capitalization of 12.22% 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.

Spring Bank Balance Sheet Analysis

As of March 31, 2020, Spring Bank had assets of $212,593,000, loans of $154,695,000, and deposits of $180,365,000. 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 $ 17.78 million
Interest-bearing balances $ 15.89 million
Total securities $ 36.43 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 154.70 million
Loan loss allowance $ 1.26 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.74 million
Goodwill and other intangibles $ 0.15 million
All other assets $ 2.55 million
     Total Assets $ 186.61 million
LIABILITIES
Total deposits $ 180.37 million
      Interest-bearing deposits $ 149.66 million
      Deposits held in domestic offices $ 180.37 million
      % insured (estimated) 82.54%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 5.57 million
Subordinated debt N.A.
All other liabilities $ 0.67 million
      Total Liabilities $ 186.61 million
      Shareholders’ Equity $ 25.98 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.81 million
Total Interest Expense $ 0.62 million
Net interest income $ 2.19 million
Provision for loan and lease losses $ 0.02 million
Total non interest income $ 0.07 million
Total non interest expense $ 1.69 million
Pre-tax Net Operating Income $ 0.56 million

Bank Loan Profile?

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

Compared to other banks in New York, Spring 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 17.48
Multifamily
Mortgages
16.41
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 8.40
Commercial Real Estate 47.17
Commercial and Industrial Loans 10.88
Farm Loans 0.00

Frequently Asked Questions About Spring Bank

Branches and Savings

Is Spring Bank FDIC insured?

Yes. It is covered under FDIC Certificate #58668.

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

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

Why are Spring Bank CD rates not competitive?

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

Is Spring Bank a commercial bank?

Yes

Where are Spring Bank locations?

See branch locations nearby.

Is Spring Bank open on Saturdays?

Is Spring Bank open on Sundays?

What time does Spring Bank open?

What time does Spring Bank close?

Are Spring Bank ATMs Open 24/7?

Do Spring Bank ATMs accept cash deposits?

Can Spring Bank customers use other ATMs?

Do Spring Bank branches have notaries?

Will Spring Bank notarize my document?

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

Will the Spring Bank branch print checks?

Do Spring Bank checks expire?

Does Spring Bank require US citizenship to open account?

Can Spring Bank close my account?

Does Spring Bank Report to credit bureaus?

Does Spring Bank Use Equifax?

What is Spring Bank's ACH Routing Number?

What is Spring Bank's SWIFT code?

Products

Does Spring Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Spring Bank offer personal loans?

Compare personal loan rates here.

Does Spring Bank offer student loans?

Will Spring Bank cash a check?

Will Spring Bank redeem a savings bond?

Does Spring Bank cash savings bonds?

Will Spring Bank cash money orders?

Can Spring Bank issue a money order?

Does Spring Bank do currency exchange?

Background on The Bank

Who owns Spring Bank?

How long has Spring Bank been around?

Can Spring Bank transfer to other banks?

Does Spring Bank have quick pay?

Does Spring Bank accept rolled coins?

Will Spring Bank accept loose change?

Where is Spring Bank headquarters?

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*Should any logos, images or public notes appear on this page,they do so courtesy of Spring Bank and are not subject to approval of BestCashCow. BestCashCow expressly disclaims all responsibility for this content.