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Emigrant Bank is the largest privately held bank in the U.S., founded in 1850, offering personal and business banking services including mortgages, investments, and commercial real estate financing.
Data compiled from public sources
Emigrant Bank traces its roots to September 30, 1850, when Irish immigrant founders opened a small office at 51 Chambers Street in New York to serve the financial needs of the immigrant and American communities. The bank quickly became the seventh largest in the country within a short period and earned a reputation for stability by investing in transformational projects like Saint Patrick's Cathedral and Central Park. The institution survived the Great Depression and multiple economic crises, and in 1986, the Milstein family stabilized the bank during a financial crisis.
Today, Emigrant remains the largest privately held bank in the United States with over 170 years of continuous operation. Emigrant offers comprehensive personal banking services including checking accounts, savings accounts, money market accounts, CDs, debit cards, IRAs, and investments/annuities. On the business side, the bank provides business checking, title solutions, lease security deposits, employer pension plans, business financing, and commercial real estate loans.
Emigrant Mortgage specializes in creative financing solutions for residential properties, including jumbo and super-jumbo loans up to $10 million, with particular experience context in condominium and cooperative financing. Emigrant Funding Corp. provides first mortgage financing for commercial real estate, while Emigrant Business Credit Corp.
offers senior debt solutions to companies across North America. Emigrant distinguishes itself through its niche lending approach and willingness to close loans that don't fit conventional lender requirements. As a portfolio lender, the bank applies common-sense underwriting and maintains strong relationships with the New York community.
S. financial institutions, allows for long-term stability and community commitment rather than shareholder-driven decision-making. Additionally, Emigrant offers listed services like foreign currency exchange and SBA 504 lending programs.
Emigrant Bank is best suited for customers seeking a financially stable, established institution with deep roots in American banking history and experience context in complex lending scenarios. However, as a traditional bank with physical locations primarily in New York, it may have limited accessibility for customers outside the tristate area. The website provides limited details on rates, fees, minimum balances, and account terms, requiring customers to contact the bank directly for specific product information.
This is state-level context for Banks consumers in Miami, FL. It does not confirm that Emigrant Bank or this specific location is licensed.
State regulator
Florida Office of Financial Regulation
Consumer protection
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Emigrant Bank processed 186 mortgage applications in 2023, with 67.7% recorded as approved across 5 states.
186
Applications
67.7%
Approval Rate
$686K
Avg Loan
5
States Served
Based on 186 applications. Income in thousands (reported by applicant).
Source: CFPB Home Mortgage Disclosure Act (HMDA) Data, 2023. Applications include originated, approved, and denied loans.
Emigrant Bank offers 12 services including Personal checking accounts, Savings accounts and money market accounts, Certificates of Deposit (CDs), Individual Retirement Accounts (IRAs), Investments and annuities, and 7 more.
Emigrant Bank has profile signals associated with High-net-worth borrowers seeking jumbo mortgages or non-conforming residential loans in New York area, Commercial real estate investors and developers needing portfolio-based lending with flexible underwriting, Small business owners seeking SBA-backed financing and relationship-based banking services, Customers with complex financial needs (cooperatives, condominiums, foreign currency) who value institutional stability.
Key strengths: 170+ year history of continuous operation and stability through multiple economic crises including the Great Depression; Largest privately held bank in the U.S., providing institutional strength and independence from public shareholder pressures; Specializes in complex lending scenarios, including jumbo mortgages up to $10 million and non-conforming residential loans. Areas to consider: Limited geographic footprint—primarily serves New York area with unclear branch locations and online accessibility; Website provides minimal information on rates, fees, minimum deposit requirements, or account terms.
In the Banks category, comparable providers include American Momentum Bank, Crews Bank & Trust, EdFed. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Emigrant Bank is profile signals for established customers in the New York area who need sophisticated lending products (jumbo mortgages, non-conforming loans, complex commercial real estate) from a stable, privately held institution with deep community roots. The main caveat is limited geographic accessibility and minimal online transparency regarding rates and terms, requiring direct contact with the bank to obtain specific product details and pricing.
FDIC-insured bank offering personal and business checking, savings, CDs, IRAs, and lending products across multiple states with focus on association and small business banking.
Google rating from 17 reviews
Profile signals: Small business owners and entrepreneurs needing SBA loans and commercial lending in Texas or Florida, Property managers and HOA companies seeking dedicated association banking support
Crews Bank & Trust is a full-service bank with 90+ years of Florida history, offering personal and business banking, mortgages, investment services, and trust administration through multiple branches including Sarasota.
Google rating from 39 reviews
Profile signals: Florida-based business owners seeking relationship-driven banking with SBA loans, commercial real estate financing, and treasury management, Sarasota-area residents and professionals wanting a full-service bank with trust/wealth management and estate planning services
Educational Federal Credit Union offers member-owned banking services including auto loans, mortgages, credit cards, and home equity products with promotional rates and cash-back incentives.
Google rating from 76 reviews
Profile signals: Credit union members seeking auto loans with promotional rates and deferred payment options, Homebuyers interested in guided home purchasing through dedicated concierge support
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