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Emigrant Bank

For information concerning My Savings Direct, a division of Emigrant Bank online bank, please click here .

Emigrant Bank is an FDIC insured institution headquartered at 5 E 42nd St, New York, NY 10017.
It was founded in 1850 and has approximately $7 billion in assets. Customers can open an account at one of its 5 branches.

Deposit Rates - January 22, 2026

SAVINGS RATES APY MIN
SAV
0.05% $1 Compare
MM RATES APY MIN
Money Market
0.10% $100 Compare
INT CHECKING RATES APY MIN
INTCK
0.15% $1




Overview 2026

General Bank Information

FDIC Insured Yes
FDIC Certificate # 12054
Date Established 1850
Assets $ 6.52 billion
Loans $ 4.62 billion
Deposits $ 4.85 billion
Capital $ 1,409.24 million

Summary Balance Sheet as of September 30, 2025

ASSETS
Cash & Balances due from depository institutions $ 562.77 million
Interest-bearing balances $ 549.35 million
Total securities $ 436.42 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 4.62 billion
Loan loss allowance $ 78.58 million
Trading account assets $ 0.89 million
Bank premises and fixed assets N.A.
Other real estate owned $ 4.65 million
Goodwill and other intangibles $ 104.63 million
All other assets $ 512.90 million
     Total Assets $ 5.00 billion

LIABILITIES
Total deposits $ 4.85 billion
      Interest-bearing deposits $ 4.67 billion
      Deposits held in domestic offices $ 4.85 billion
      % insured (estimated)" 86.82%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 18.90 million
Subordinated debt N.A.
All other liabilities $ 119.05 millionn
      Total Liabilities $ 5.00 billion
      Shareholders’ Equity $ 1,516.33 million

Summary Income Statement as of September 30, 2025

INCOME AND EXPENSES
Total Interest Income $ 332.35 million
Total Interest Expense $ 145.76 million
Net interest income $ 186.59 million
Provision for loan and lease losses $ 19.10 million
Total non interest income $ 41.72 million
Total non interest expense $ 161.01 million
Pre-tax Net Operating Income $ 31.36 million

Customer Reviews for Emigrant Bank (6)

Rated 3.83 stars out of 5 - based on 6 reviews

  • These Emigrant subsidiaries - Dollar Savings Direct and My Banking Direct - are a real nuisance when one offers a better rate that the other will not match. Transfers are next day though. So I can transfer out of one and through Bank of America and into the other and I only lose 2 days of interest.

  • Everyone loves to attack this one, but I've had a few of these accounts and here's the one thing I know. If I go to their site and want to transfer money from my external account, it is a same day thing. In other words I am earning interest the same day. Now, I know that it is only one account that you can link, can't run a transfer from outside, etc., etc., but this is worth something, no?

  • Feels like the three cup gambling trick at tourist sites in London or Paris with all of the rate changes at different subs and not being about to move between Dollar Savings and My Savings. I also don't like the gold and foreclosed property pitches (only on websites after you log in). All that having been said, they do tend to be competitive with one of the two subs sometimes and they do not restrict online transfers (a huge problem with other banks on this list).

  • Here is a warning. Unlike other online banks, if you try to set up an link in order to withdraw money from an external account by verifying two small deposits, it will be rejected by the bank. They only allow ACH deposits.

  • Not great service, but all I need is access and the ability to transfer money with no limits and this one fits the bill nicely.

  • I am excited to see DSD as the first online bank to cross the 3% barrier. I have been an account holder on-and-off with this one from many years. I am aware of all of the comments about Emigrant Bank and their tactics. They have a history of playing among their brands - lower or holding one rate constant while raising another - and it is a real nuisance. But, that happens over months and years and usually not immediately (they aren't going to raise the rate to 3% today and lower it to 2% tomorrow, or at least that type of action isn't in their history). You can benefit from their higher rates as long as you continue to pay attention. And, the best thing is that if it becomes uncompetitive, you get out in two clicks (unlike Synchrony or Bread Savings or Rising Bank and Valley Direct that make it a full time job to get out).

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Branches

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Your current location is: Seattle, WA

Emigrant Bank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis."

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only."

  • 1
    LOCAL SAVINGS
    Emigrant Bank
    Bank
    -
    $50,000
    N.A.
    0.05%
    0.22x (National Avg. - 0.23%)
    $1
    -
    SCENARIO
    Year Rate
    0.05%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 25 18
    2 50,025 25 18
    3 50,050 25 18
    4 50,075 25 18
    5 50,100 25 18
    6 50,125 25 18
    7 50,150 25 18
    8 50,175 25 18
    9 50,200 25 18
    10 50,225 25 18
    11 50,251 25 18
    12 50,276 25 18
    13 50,301 25 18
    14 50,326 25 18
    15 50,351 25 18
    16 50,376 25 18
    17 50,402 25 18
    18 50,427 25 18
    19 50,452 25 18
    20 50,477 25 18
    TOTAL $502 $352
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    Bank
    -
    $50,000
    N.A.
    3.75%
    16.67x (National Avg. - 0.23%)
    $1,000
    -
    SCENARIO
    Year Rate
    3.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,875 1,313
    2 51,875 1,945 1,362
    3 53,820 2,018 1,413
    4 55,839 2,094 1,466
    5 57,933 2,172 1,521
    6 60,105 2,254 1,578
    7 62,359 2,338 1,637
    8 64,697 2,426 1,698
    9 67,124 2,517 1,762
    10 69,641 2,612 1,828
    11 72,252 2,709 1,897
    12 74,962 2,811 1,968
    13 77,773 2,916 2,042
    14 80,689 3,026 2,118
    15 83,715 3,139 2,198
    16 86,854 3,257 2,280
    17 90,111 3,379 2,365
    18 93,491 3,506 2,454
    19 96,996 3,637 2,546
    20 100,634 3,774 2,642
    TOTAL $54,408 $38,085


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