Reviewed by Dkplan | December 27, 2022
CDs
6 Month
Rates
They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe?
2024 Overview
General Bank Information
Banesco USA is an FDIC insured institution located in Miami, FL. It was founded in 2006 and has approximately $4.17 billion in assets. Customers can open an account at one of its 7 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 57815 |
| Date Established | 2006 |
| Assets | $ 4.17 billion |
| Loans | $ 3.11 billion |
| Deposits | $ 3.42 billion |
| Capital | $ 484.83 million |
For a more detailed analysis of Banesco USA's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - November 17, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| SAV
|
4.50% | $300 | $1,000,000 |
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|
|
Money Market
|
4.50% | $300 | $250,000 |
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|
| CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 3 Month CD
|
4.50% | $1,000 | $249,999 |
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|
| 6 Mo CD
|
4.50% | $1,000 | $250,000 |
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|
| 9 Month CD
|
4.30% | $1,000 | $250,000 |
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|
| 12-Month CD
|
4.20% | $1,000 | $250,000 |
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|
| 18 Mo CD
|
3.90% | $1,000 | $250,000 |
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|
| 24 Mo CD
|
3.75% | $1,000 | $250,000 |
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|
| 36 Month CD
|
2.50% | $1,000 | $250,000 |
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|
Loan Rates - November 17, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Banesco USA
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 1835285 |
6.494% |
6.375% 0.75 points $4,000 fees |
$1,997 | Learn More |
NMLS ID: 1025894 |
6.868% |
6.750% 1.00 points $3,884 fees |
$2,076 | Learn More |
NMLS ID: 1907 |
7.181% |
7.125% 0.63 points $1,802 fees |
$2,156 | Learn More |
NMLS ID: 3030 |
7.225% |
7.125% 1.00 points $3,200 fees |
$2,156 | Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
Intro APR
7.490 %
After Intro: 7.490 % |
$0 |
Learn More
More Info |
Note to Banesco USA
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Branches
Banesco USA branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Banesco USA Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 966.33 | A | View Lobby Hours | |
| 987.76 | B | View Lobby Hours | |
| 992.50 | C | View Lobby Hours | |
| 1738.02 | D | View Lobby Hours |
Climate Policy and Initiatives
Banesco USA is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
Banesco USA Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Banesco USA. 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
| Banesco USA | U.S. Bank Average |
|---|---|
| 1.01% | 4.48% |
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 June 30, 2024, Banesco USA had $5,253,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $484,826,000 in equity and $36,566,000 in loans loss reserves. That gives it a Texas Ratio of 1.01%.
Return on Equity
| Banesco USA | U.S. Bank Average |
|---|---|
| 8.22% | 10.46% |
Banesco USA has a Return on Equity of 8.22% 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
| Banesco USA | U.S. Bank Average |
|---|---|
| 11.63% | 10.84% |
Banesco USA has a Capitalization of 11.63% versus the BestCashCow average of 10.84. 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.
Banesco USA Balance Sheet Analysis
As of June 30, 2024, Banesco USA had assets of $4,169,323,000, loans of $3,108,757,000, and deposits of $3,418,130,000. 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
June 30, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 230.91 million |
| Interest-bearing balances | $ 203.66 million |
| Total securities | $ 612.75 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 3.11 billion |
| Loan loss allowance | $ 36.57 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 0.04 million |
| All other assets | $ 97.72 million |
| Total Assets | $ 3.68 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 3.42 billion |
| Interest-bearing deposits | $ 2.16 billion |
| Deposits held in domestic offices | $ 2.89 billion |
| % insured (estimated) | 56.62% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 249.81 million |
| Subordinated debt | $ 14.90 million |
| All other liabilities | $ 20.01 million |
| Total Liabilities | $ 3.68 billion |
| Shareholders’ Equity | $ 484.83 million |
Summary Income Statement
June 30, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 111.54 million |
| Total Interest Expense | $ 53.29 million |
| Net interest income | $ 58.25 million |
| Provision for loan and lease losses | $ 0.50 million |
| Total non interest income | $ 10.50 million |
| Total non interest expense | $ 41.30 million |
| Pre-tax Net Operating Income | $ 14.74 million |
Bank Loan Profile?
The top three loan types in Banesco USA’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.
Compared to other banks, Banesco USA’s loan portfolio does not show any specific loan specialty.
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 | 13.41 | ✓ | ||
| Multifamily Mortgages |
3.02 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.01 | ✓ | ||
| Small Business Loans | 1.14 | ✓ | ||
| Construction and Development Loans | 3.25 | ✓ | ||
| Commercial Real Estate | 27.50 | ✓ | ||
| Commercial and Industrial Loans | 5.46 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Customer Reviews for Banesco USA (9)
Dkplan
December 27, 2022
They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe?
Is this review helpful? Yes:1 / No: 0
Savvysaver
June 25, 2020 |
Nope. As with the CIT quote 1.25% APY is a bit optimistic. Banesco's site offers .90%.
Is this review helpful? Yes:0 / No: 0
Eric
January 9, 2020 |
I opened a 2 year CD there 2 years ago. Now I'm trying to close it on maturity instead of having it automatically roll over into a new CD. They're giving me a hard time and wasting my time. Their website has bugs that caused me to get locked out. But I no longer need their website because I just want to close the CD on maturity and never do business with Banesco USA again. But they refuse unless I jump through their hoops. They're like a bunch of government bureaucrats whose job is to find obstacles to prevent people from doing anything without a huge waste of time.
Is this review helpful? Yes:4 / No: 0
JamesK
June 5, 2019
Their process for simply opening a savings account was over the top complicated and time consuming. Their process would make sense if you were trying to borrow money, but for giving them your money to hold it was unreasonable. I aborted the process with them and ended up opening an account with Comenity Bank. Their process was simple and quick, with a similarly high interest rate.
Is this review helpful? Yes:2 / No: 0
james
October 28, 2018
used to have money market with them. zero customer service. They are good until there is a problem and then you are on you own.
Is this review helpful? Yes:5 / No: 1
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