Reviewed by Zman111 | June 26, 2022 |
ACH transfers are not allowed. Called and was told that I had to set up wire transfers (and pay fees) or I could come in to the bank and get a bank check.
2024 Overview
General Bank Information
Cross River Bank is an FDIC insured institution located in Teaneck, NJ. It was founded in 2008 and has approximately $8.82 billion in assets.
| FDIC Insured | Yes |
| FDIC Certificate | # 58410 |
| Date Established | 2008 |
| Assets | $ 8.82 billion |
| Loans | $ 6.39 billion |
| Deposits | $ 7.02 billion |
| Capital | $ 1,006.57 million |
For a more detailed analysis of Cross River Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - November 21, 2024
Your Current Location: Ohio, OH 43085
Bank Online Offers
Loan Rates - November 21, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Cross River Bank
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: 2578474 |
6.494% |
6.375% 0.88 points $4,010 fees |
$1,997 | Learn More |
NMLS ID: 1025894 |
6.955% |
6.875% 0.63 points $2,594 fees |
$2,103 | Learn More |
NMLS ID: 3030 |
7.325% |
7.250% 0.75 points $2,400 fees |
$2,183 | Learn More |
NMLS ID: 1907 |
points fees |
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
7.240 %
After Intro: 7.240 % |
$0 |
Learn More
More Info |
Note to Cross River Bank
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Branches
Cross River Bank 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
Cross River Bank Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 480.87 | A | View Lobby Hours |
Climate Policy and Initiatives
Cross River Bank 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
Cross River Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Cross River 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
| Cross River Bank | U.S. Bank Average |
|---|---|
| 74.12% | 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, Cross River Bank had $836,241,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $1,006,573,000 in equity and $121,614,000 in loans loss reserves. That gives it a Texas Ratio of 74.12%.
Return on Equity
| Cross River Bank | U.S. Bank Average |
|---|---|
| 2.11% | 10.46% |
Cross River Bank has a Return on Equity of 2.11% 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
| Cross River Bank | U.S. Bank Average |
|---|---|
| 11.42% | 10.84% |
Cross River Bank has a Capitalization of 11.42% 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.
Cross River Bank Balance Sheet Analysis
As of June 30, 2024, Cross River Bank had assets of $8,815,206,000, loans of $6,391,550,000, and deposits of $7,024,369,000. 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 | $ 871.69 million |
| Interest-bearing balances | $ 715.52 million |
| Total securities | $ 1,112.63 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 6.39 billion |
| Loan loss allowance | $ 121.61 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 6.40 million |
| All other assets | $ 585.34 million |
| Total Assets | $ 7.81 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 7.02 billion |
| Interest-bearing deposits | $ 5.74 billion |
| Deposits held in domestic offices | $ 7.02 billion |
| % insured (estimated) | 78.86% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 2.94 billion |
| Subordinated debt | N.A. |
| All other liabilities | $ 175.55 million |
| Total Liabilities | $ 7.81 billion |
| Shareholders’ Equity | $ 1,006.57 million |
Summary Income Statement
June 30, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 389.22 million |
| Total Interest Expense | $ 153.18 million |
| Net interest income | $ 236.05 million |
| Provision for loan and lease losses | $ 23.29 million |
| Total non interest income | N.A. |
| Total non interest expense | $ 199.48 million |
| Pre-tax Net Operating Income | $ 131.27 million |
Bank Loan Profile?
The top three loan types in Cross River Bank’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and Multifamily Mortgages.
Compared to other banks in New Jersey, Cross River Bank has a significantly higher percent of 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 | 0.61 | ✓ | ||
| Multifamily Mortgages |
5.35 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 0.84 | ✓ | ||
| Construction and Development Loans | 1.39 | ✓ | ||
| Commercial Real Estate | 6.36 | ✓ | ||
| Commercial and Industrial Loans | 56.93 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Customer Reviews for Cross River Bank
Zman111
June 26, 2022 |
ACH transfers are not allowed. Called and was told that I had to set up wire transfers (and pay fees) or I could come in to the bank and get a bank check.
Is this review helpful? Yes:1 / No: 0
Rob
January 15, 2022 |
I've done some work with these guys.
This is a New Jersey-based bitcoin ponzi scheme run by a bunch of 30-something Wall Street throw aways. If you must chase 51 bps, I suggest you do it somewhere else.
Is this review helpful? Yes:2 / No: 0
Lorenzo Hernandez
November 19, 2021 |
Just terrible and should not be listed here.
Is this review helpful? Yes:2 / No: 1
Steven G
September 19, 2021 |
No problems at first and then I needed to reach customer service with an easy question about ACH transfers and they could not answer it. I will go back to making a little less at a more established name.
Is this review helpful? Yes:2 / No: 0
Jay
July 7, 2021 |
This is s a crap organization run by kids that abused PPP, and are now about to boil themselves on crypto. You should not give them your money at 51 basis points!
Is this review helpful? Yes:3 / No: 0
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