Balboa Thrift and Loan Association (FDIC certificate 26704) was established in 1980 and operates through 4 branch offices located in CA. Mr. Ted Monzingo, CEO of Balboa Thrift and Loan Association, leads a team of 90 employees.
Balboa Thrift and Loan Association, headquartered in Chula Vista, CA, is rated five stars for financial strength by BauerFinancial, Inc., the nation’s leading bank rating firm. As a general rule, a five star rating indicates, among other things, that Balboa Thrift and Loan Association has at least twice the capital that regulators require, is profitable (or operating with a very small loss) and has kept its delinquent loans in check.
Balboa Thrift and Loan Association is a state chartered commercial bank and not a member of Federal Reserve. With $215 million in total assets, the FDIC classifies the bank’s asset concentration as "Consumer Lenders" which is defined as institutions whose residential mortgage loans, plus credit-card loans, plus other loans to individuals, exceed 50 percent of total assets.
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