Ridgewood Savings Bank
Ridgewood Savings Bank is an FDIC insured institution headquartered at
7102 Forest Ave, Ridgewood, NY 11385.
It was founded in
1921 and has approximately $7 billion in
assets. Customers can open an account at one of its 39 branches.
Deposit Rates - March 19, 2024
SAVINGS RATES | APY | MIN | |
---|---|---|---|
SAV
|
3.50% | $0 | Compare |
MM RATES | APY | MIN | |
---|---|---|---|
Money Market
|
4.75% | $10,000 | Compare |
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Overview 2024
General Bank Information
FDIC Insured | Yes |
FDIC Certificate | # 16026 |
Date Established | 1921 |
Assets | $ 6.87 billion |
Loans | $ 4.44 billion |
Deposits | $ 5.49 billion |
Capital | $ 769.12 million |
Summary Balance Sheet as of June 30, 2023
ASSETS | |
Cash & Balances due from depository institutions | $ 175.07 million |
Interest-bearing balances | $ 155.02 million |
Total securities | $ 1,740.96 million |
Federal funds sold and reverse repurchase | $ 64.37 million |
Net loans and leases | $ 4.44 billion |
Loan loss allowance | $ 31.84 million |
Trading account assets | N.A. |
Bank premises and fixed assets | N.A. |
Other real estate owned | $ 0.04 million |
Goodwill and other intangibles | $ 80.21 million |
All other assets | $ 274.88 million |
Total Assets | $ 6.10 billion |
LIABILITIES | |
Total deposits | $ 5.49 billion |
Interest-bearing deposits | $ 4.97 billion |
Deposits held in domestic offices | $ 5.49 billion |
% insured (estimated) | 88.23% |
Federal funds purchased and repurchase agreements | N.A. |
Trading liabilities | N.A. |
Other borrowed funds | $ 402.86 million |
Subordinated debt | N.A. |
All other liabilities | $ 114.65 millionn |
Total Liabilities | $ 6.10 billion |
Shareholders’ Equity | $ 769.12 million |
Summary Income Statement as of June 30, 2023
INCOME AND EXPENSES | |
Total Interest Income | $ 171.44 million |
Total Interest Expense | $ 75.04 million |
Net interest income | $ 96.40 million |
Provision for loan and lease losses | $ 1.01 million |
Total non interest income | $ 10.37 million |
Total non interest expense | $ 79.33 million |
Pre-tax Net Operating Income | $ 31.79 million |
Customer Reviews for Ridgewood Savings Bank
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Ridgewood Savings 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.
- 1ONLINE SAVINGSBank-$50,000N.A.3.50%16.75x (National Avg. - 0.21%)$0-SCENARIO
Year Rate
3.50%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,750 1,225 2 51,750 1,811 1,268 3 53,561 1,875 1,312 4 55,436 1,940 1,358 5 57,376 2,008 1,406 6 59,384 2,078 1,455 7 61,463 2,151 1,506 8 63,614 2,226 1,559 9 65,840 2,304 1,613 10 68,145 2,385 1,670 11 70,530 2,469 1,728 12 72,998 2,555 1,788 13 75,553 2,644 1,851 14 78,198 2,737 1,916 15 80,935 2,833 1,983 16 83,767 2,932 2,052 17 86,699 3,034 2,124 18 89,734 3,141 2,198 19 92,874 3,251 2,275 20 96,125 3,364 2,355 TOTAL $49,489 $34,643 - 2LOCAL SAVINGSOnline Bank-$50,000N.A.5.10%24.40x (National Avg. - 0.21%)$0-SCENARIO
Year Rate
5.10%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,550 1,785 2 52,550 2,680 1,876 3 55,230 2,817 1,972 4 58,047 2,960 2,072 5 61,007 3,111 2,178 6 64,119 3,270 2,289 7 67,389 3,437 2,406 8 70,825 3,612 2,528 9 74,437 3,796 2,657 10 78,234 3,990 2,793 11 82,224 4,193 2,935 12 86,417 4,407 3,085 13 90,824 4,632 3,242 14 95,456 4,868 3,408 15 100,325 5,117 3,582 16 105,441 5,378 3,764 17 110,819 5,652 3,956 18 116,471 5,940 4,158 19 122,411 6,243 4,370 20 128,654 6,561 4,593 TOTAL $85,215 $59,650 - 3ONLINE SAVINGSOnline Bank-$50,000N.A.4.60%22.01x (National Avg. - 0.21%)$0-SCENARIO
Year Rate
4.60%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,300 1,610 2 52,300 2,406 1,684 3 54,706 2,516 1,762 4 57,222 2,632 1,843 5 59,854 2,753 1,927 6 62,608 2,880 2,016 7 65,488 3,012 2,109 8 68,500 3,151 2,206 9 71,651 3,296 2,307 10 74,947 3,448 2,413 11 78,395 3,606 2,524 12 82,001 3,772 2,640 13 85,773 3,946 2,762 14 89,718 4,127 2,889 15 93,846 4,317 3,022 16 98,162 4,515 3,161 17 102,678 4,723 3,306 18 107,401 4,940 3,458 19 112,342 5,168 3,617 20 117,509 5,405 3,784 TOTAL $72,915 $51,040
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