Ridgewood Savings Bank
Analysis
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Edited by General
Ridgewood Savings Bank is a community bank operating primarily across 36 branches through New York City, Westchester County and Long Island. Customers outside the New York area can open online savings and CD accounts and have access to the AllPoint and MoneyPoint ATM networks.
Advantages
- The fee-free Green Checking account supposedly has an eco-friendly focus.
- Customers can access over 90,000 ATMs, and have access to Zelle and some unique budget planning tools.
- Savings and CD rates are ordinarily very competitive.
Disadvantages
- The FlexPower Money Market acocunt should be avoided for its high fees and low rates.
- Customers who are not residents of New York State cannot perform any in-branch functions.
Financial Details
Ridgewood Savings Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Ridgewood Savings 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
| Ridgewood Savings Bank | U.S. Bank Average |
|---|---|
| 6.92% | 4.29% |
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, 2024, Ridgewood Savings Bank had $59,067,000 in non-current loans and $38,000 in owned real estate. To cover these potential losses it had $821,236,000 in equity and $32,343,000 in loans loss reserves. That gives it a Texas Ratio of 6.92%.
Return on Equity
| Ridgewood Savings Bank | U.S. Bank Average |
|---|---|
| 3.86% | 10.46% |
Ridgewood Savings Bank has a Return on Equity of 3.86% versus the BestCashCow average of 10.46%. 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
| Ridgewood Savings Bank | U.S. Bank Average |
|---|---|
| 11.74% | 10.73% |
Ridgewood Savings Bank has a Capitalization of 11.74% versus the BestCashCow average of 10.73. 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.
Ridgewood Savings Bank Balance Sheet Analysis
As of March 31, 2024, Ridgewood Savings Bank had assets of $6,996,423,000, loans of $4,550,870,000, and deposits of $5,559,007,000. 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, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 211.32 million |
| Interest-bearing balances | $ 189.02 million |
| Total securities | $ 1,680.78 million |
| Federal funds sold and reverse repurchase | $ 109.77 million |
| Net loans and leases | $ 4.55 billion |
| Loan loss allowance | $ 32.34 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 | $ 6.18 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 5.56 billion |
| Interest-bearing deposits | $ 5.03 billion |
| Deposits held in domestic offices | $ 5.56 billion |
| % insured (estimated) | 88.15% |
| 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 million |
| Total Liabilities | $ 6.18 billion |
| Shareholders’ Equity | $ 821.24 million |
Summary Income Statement
March 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 63.70 million |
| Total Interest Expense | $ 34.95 million |
| Net interest income | $ 28.75 million |
| Provision for loan and lease losses | $ 1.21 million |
| Total non interest income | $ 3.74 million |
| Total non interest expense | $ 27.47 million |
| Pre-tax Net Operating Income | $ 31.79 million |
Bank Loan Profile?
The top three loan types in Ridgewood Savings Bank’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Commercial Real Estate.
Compared to other banks in New York, Ridgewood Savings Bank has a significantly higher percent of 1-4 Family Residential Loans, Multifamily Mortgages, Credit Card Loans, Small Business Loans, Construction and Development Loans, Commercial Real Estate, Commercial and Industrial Loans 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 | 43.13 | ✓ | ||
| Multifamily Mortgages |
40.69 | ✓ | ||
| Credit Card Loans | 0.02 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 0.32 | ✓ | ||
| Construction and Development Loans | 0.02 | ✓ | ||
| Commercial Real Estate | 3.59 | ✓ | ||
| Commercial and Industrial Loans | 0.04 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Savings Fees
| Fee Type | |
|---|---|
| Non Sufficient Funds | $0.00 |
| Maintenance | $0.00 |
| Out-of-network ATM | $0.00 |
| Excessive Transaction | $0.00 |
| Incoming Wires | $0.00 |
Ridgewood Savings Bank Reviews
an
April 25, 2022
We would not be having all this trouble with people sealing money out of other people's bank accounts if we were to just stop using fancy banking like onlinebanki
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