Astoria-based bank ranked in top 200 in nation

By Bill Parry

An Astoria-based bank has been named one of the Top 200 Healthiest Banks in America by DepositAccounts.com, a website that monitors and informs consumers about how well financial institutions perform. Quontic Bank made the list at No. 88 of the 6,199 federally insured banks in the United States.

The website also gave Quontic Bank an “A-plus” health grade for its overall financial strength. The bank, headquartered at 31-05 Broadway, stood out in all of the primary evaluation categories, including capitalization, deposit growth and loan to reserve ratios, DepositAccounts.com said.

“This ranking shows that despite our relatively small size, Quontic Bank ranks among the top 2 percent of all federally insured banks in the entire country,” Quontic Bank CEO Steven Schnall said. “We are proud of this distinction.”

Quontic Bank currently has locations in Astoria, Times Square and Long Island as well as Indiana, Connecticut and Florida. “With more to come,” Marketing Director Drew Sandholm said.

Each year, DepositAccounts.com evaluates the financial health of every federally insured bank in the nation. From the list of 6,199 banks, DepositAccounts.com recognizes those which have shown exceptional fiduciary responsibility in its Top 200 Healthiest Banks in America.

Reach reporter Bill Parry by e-mail at bparry@cnglocal.com or by phone at (718) 260–4538.