Ridgewood Savings Bank

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Deposit Rates - May 19, 2022

SAVINGS RATES APY MIN

Overview 2022

General Bank Information

FDIC Insured Yes
FDIC Certificate # 16026
Date Established 1921
Assets $ 6.77 billion
Loans $ 3.80 billion
Deposits $ 5.42 billion
Capital $ 856.28 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 236.53 million
Interest-bearing balances $ 201.35 million
Total securities $ 2.18 billion
Federal funds sold and reverse repurchase $ 222.58 million
Net loans and leases $ 3.80 billion
Loan loss allowance $ 26.76 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.22 million
Goodwill and other intangibles $ 80.21 million
All other assets $ 230.35 million
     Total Assets $ 5.91 billion

LIABILITIES
Total deposits $ 5.42 billion
      Interest-bearing deposits $ 4.87 billion
      Deposits held in domestic offices $ 5.42 billion
      % insured (estimated) 90.13%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 392.85 million
Subordinated debt N.A.
All other liabilities $ 98.88 millionn
      Total Liabilities $ 5.91 billion
      Shareholders’ Equity $ 856.28 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 166.75 million
Total Interest Expense $ 37.10 million
Net interest income $ 129.66 million
Provision for loan and lease losses N.A.
Total non interest income $ 13.04 million
Total non interest expense $ 101.87 million
Pre-tax Net Operating Income $ 41.04 million

Ridgewood Savings Bank is an FDIC insured institution headquartered at 7102 Forest Avenue, 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.

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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
    ONLINE SAVINGS
    Bank
    -
    $50,000
    N.A.
    0.60%
    5.26x (National Avg. - 0.11%)
    $0
    -
    SCENARIO
    Year Rate
    0.60%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 300 210
    2 50,300 302 211
    3 50,602 304 213
    4 50,905 305 214
    5 51,211 307 215
    6 51,518 309 216
    7 51,827 311 218
    8 52,138 313 219
    9 52,451 315 220
    10 52,766 317 222
    11 53,082 318 223
    12 53,401 320 224
    13 53,721 322 226
    14 54,044 324 227
    15 54,368 326 228
    16 54,694 328 230
    17 55,022 330 231
    18 55,352 332 232
    19 55,684 334 234
    20 56,019 336 235
    TOTAL $6,355 $4,448
  • 2
    ONLINE SAVINGS
    Online Bank
    -
    $50,000
    N.A.
    0.85%
    7.46x (National Avg. - 0.11%)
    $2,500
    -
    SCENARIO
    Year Rate
    0.85%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 425 298
    2 50,425 429 300
    3 50,854 432 303
    4 51,286 436 305
    5 51,722 440 308
    6 52,161 443 310
    7 52,605 447 313
    8 53,052 451 316
    9 53,503 455 318
    10 53,958 459 321
    11 54,416 463 324
    12 54,879 466 327
    13 55,345 470 329
    14 55,816 474 332
    15 56,290 478 335
    16 56,769 483 338
    17 57,251 487 341
    18 57,738 491 344
    19 58,229 495 346
    20 58,724 499 349
    TOTAL $9,223 $6,456