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Presidential Bank, FSB, was organized in 1985. Our assets exceed $600 million. Our main office is located in Bethesda, Maryland. We have branches located throughout the metro DC area. We are regulated by the U.S. Office of the Comptroller of the Currency as a federal savings bank and our deposits are insured by the Federal Deposit Insurance Corporation (FDIC).
On October 6, 1995, Presidential® became the first bank in the United States to offer its bank accounts over the Internet. Beginning in 1997, Presidential was one of the earliest banks to offer online account statements and then real time PC banking services, such as current balance look-up capability and transfers between accounts. Our unique online archive of historical account statements and check copies, followed later by deposit copies, goes back to the beginning of the availability of these documents online; they are never deleted from our website, providing customers with useful long-term reference information. Software for this service was developed in-house, and a patent was granted for this system.
Presidential attempts to take advantage of market opportunities as they arise, even if these opportunities require a departure from traditional ways of doing business. During the period from 1992 to 1997, Presidential fueled its growth and profitability by purchasing performing loans acquired from failed commercial banks and thrifts through the FDIC and the RTC. These purchases provided higher yielding portfolio lending opportunities than were available from new loan originations at the time. Since the onset of the recent mortgage crisis in 2008, Presidential was able to seize the market opportunity to more than double the size of its mortgage lending group to become one of the largest locally owned mortgage bankers in the Washington, DC metropolitan area.
Presidential was founded by the founder of GIT Investment Funds (now called Mosaic Funds) of Arlington, Virginia, a group of stock, bond, international and money market mutual funds, which had its origins in 1975. Today Presidential remains a privately held, entrepreneurial organization. Since inception, Presidential has maintained sound capitalization, never failing to meet regulatory capital minimums, even as the local banking industry in the Washington, DC area experienced significant difficulties and many failures during the late 1980's, early 1990's and during the financial crisis of 2008.
We have operated continuously under the same ownership and management since inception. We take pride in our stability and in our nearly 30-year record of home mortgage lending, commercial lending and deposit banking service to members of our local community.
At Presidential, we have a simple philosophy to provide...
"Responsive, professional service through local, independent leadership."
If you look at our high Deposit Rates, you will see that they are among the most attractive in the marketplace.
Washington Consumers' Checkbook magazine has rated us higher than any other bank or savings and loan in the Washington, D.C., area for "Reasonableness of Fee Policies", based upon an extensive survey of bank customers. See for yourself, by checking our low Schedules of Fees. In fact, we've been highly rated by several organizations, see our Media Rankings.
Our Home Mortgage Rates are extremely competitive, and our Commercial Lending department is ready to help your business grow!
And we are small enough to give customers the personal attention they expect.
Presidential Online Bank is a division of Presidential Bank, FSB, Bethesda, Maryland.
Presidential Online Bank was established on October 6, 1995, to become the vehicle of Presidential's future growth through Internet banking.
Prior to the development of the Internet, Presidential followed a strategy of limited branching, building smaller, lower cost branches, in high density locations to reduce the number of branches required.
With the development of the Internet into a viable marketing channel for financial services products, this approach to branching is being carried to the next logical level. Presidential's primary marketing efforts for bank deposits and loans to consumers will now be focused on the Internet.
*APY = Annual Percentage Yield
Presidential Bank reminds you that firstname.lastname@example.org is NOT a secure means of communication. Please refrain from including personal information such as account numbers, Tax ID/Social Security numbers, passwords, etc. We encourage you to maintain contact with us through our Secure Email service, located within Personal Online Banking. Help us keep YOUR personal information PRIVATE!
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