Company Background

Presidential Bank, FSB, was organized in 1985. Our assets exceed $700 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 Madison 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.