Posted: Sat Mar 17, 2007 7:51 pm Post subject: Emigrant Direct
Reviews for the bank, Emigrant Direct may be discussed here.
Quote:
Emigrant Bank was founded by Irish emigrants as a mutual savings bank in 1850. By the 1920s it had grown to become the largest savings bank in the nation.
As of December 31, 2005, Emigrant Bank has approximately $10.5 billion in assets and more than $789 million in net worth. Together, Emigrant Bank and its affiliated Regional Banks* have $14 billion in assets and more than $1 billion in net worth, operating through 36 branches in the New York metropolitan area.
As a traditional savings bank, Emigrant Bank, through its mortgage banking subsidiary, Emigrant Mortgage Company, is licensed to originate home loans in New York and 19 other states. Last year, Emigrant provided almost 4,000 home loans totaling $1.1 billion. As of year-end 2005, Emigrant Bank and its affiliated Regional Banks have almost 490,000 accounts and almost 20,000 home loans. Emigrant Bank and Emigrant Mortgage Company have a loan-servicing portfolio of more than $5 billion.
Emigrant Bank's wealth management division, New York Private Bank & Trust, has its own deposit products starting at $2,000,000. Emigrant Bank is regulated by both State and Federal regulators. All deposits are insured by the FDIC up to the legal limit.
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