Bread Financial

For information concerning Bread Savings, a division of Bread Financial online bank, please click here.

Bread Financial is an FDIC insured institution headquartered at 12921 S Vista Station Blvd, Draper, UT 84020.
It was founded in 2003 and has approximately $13 billion in assets. Customers can open an account at one of its 1 branches.

Deposit Rates - May 21, 2024

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 57570
Date Established 2003
Assets $ 12.95 billion
Loans $ 9.93 billion
Deposits $ 9.34 billion
Capital $ 1,888.10 million

Summary Balance Sheet as of June 30, 2023

Cash & Balances due from depository institutions $ 2.07 billion
Interest-bearing balances $ 1,911.05 million
Total securities $ 106.28 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 9.93 billion
Loan loss allowance $ 1,408.57 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 119.46 million
All other assets $ 549.12 million
     Total Assets $ 11.06 billion

Total deposits $ 9.34 billion
      Interest-bearing deposits $ 9.30 billion
      Deposits held in domestic offices $ 9.34 billion
      % insured (estimated) 95.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 1,847.05 million
Subordinated debt N.A.
All other liabilities $ 259.54 millionn
      Total Liabilities $ 11.06 billion
      Shareholders’ Equity $ 1,888.10 million

Summary Income Statement as of June 30, 2023

Total Interest Income $ 2.73 billion
Total Interest Expense $ 423.62 million
Net interest income $ 2.31 billion
Provision for loan and lease losses $ 791.04 million
Total non interest income $ 484.05 million
Total non interest expense $ 1,290.08 million
Pre-tax Net Operating Income $ 198.21 million

Customer Reviews for Bread Financial (13)

Rated 2.62 stars out of 5 - based on 13 reviews
  • The rates are good but it was a hassle getting my account set up. The app does not work. I purchased a 5 year CD and I hope I don't have any issues when it's time to cash it out. I wouldn't recommend Bread Savings to anyone.

  • I like the fact that the rate is now competitive, and nothing else about this bank.

  • Some serious amateur hour here. I have a small savings account that is connected to numerous external accounts. I thought I would throw a little into a 5-year CD because it is the top rate on this site, on Deposit accounts and on Best Cash. After logging on, they insist that I fund through Plaid, not letting me use an external account already tied in to my Bread account. When I tried to call and asked to use an external account, the topic was clear above the rep's pay grade.

  • I have no idea who runs this or who the target customer is, but they sure made me feel dumb to be associated with them when I called to try and sort out simple matters. Then, they basically told me that they didn't want my account if I am going to ask them not to send me info on their credit cards and home equity loans. Moved along to CFG and am much happier there.

  • I have to agree with the last 4 reviews. Appears to be a great rate but boy talk about jumping through hoops! I submitted an application on line for an account, two weeks later I was told I needed to send all of my personal information to an address different from the one I applied to. So I did, Then I waited two more weeks and called them (for the 5th time) and was told that I need to wait for an email to confirm it was it was OK to open up an account. Still no email or any explanation 3 weeks later when I called for the 6th time. Sorry to say, I'm moving on... too much frustration to give money to someone. ONE STAR MAX !!

  • my wife and I had $500,000 in a joint account opened in 2020 when it was the top rate (as comenity). we wanted to get the money out to put it into treasuries. i sent a nice note asking them to waive the $10,000 daily limit and after 4 days they wrote back saying my request was considered and denied. unfortunate way to treat customers.

  • Great that the bank raised rates, but they waited until 3 weeks after the Fed move. Had been at 2.15% until last week. So they are slow. Overall, very poor experience.

  • I opened an account here a few months ago when it was Comenity Direct and the rate was the best. It is not competitive at all as I write (still 2.15%; they missed the last 0.75% Federal Reserve change) and I want out. I cannot do it easily. $10,000 at a time will take me forever. The people are nice but this is frustrating. Plus, they are inundating me with cross selling mailings for personal loans and home equity. I would not have done this again.

  • This is nuts! The new system associated with the new brand doesn't allow you to transfer in or out more than $5,000. Other systems of this nature are easily defeated by initiating it from an outside bank, but this is rejected anything from an outside bank over that amount. Run away, don't walk. It isn't just nuts. It's Nutzo!

  • Excellent!

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