Is Piermont Bank FDIC insured?
Piermont Bank operates as a fully regulated commercial banking institution that maintains active membership with the Federal Deposit Insurance Corporation, ensuring that eligible customer deposits are federally protected up to the statutory limit of two hundred and fifty thousand dollars per depositor per ownership category. Additionally, the institution provides expanded multi-million dollar deposit sweep network options, giving commercial and individual clients comprehensive safety coverage against institutional failure through participating partner banks.
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Piermont Bank is structured as a modern commercial bank chartered in the state of New York, operating distinctively as a technology-driven financial institution.
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Piermont Bank is an authentic, fully regulated commercial bank operating as a digital-first financial institution headquartered in New York.
Piermont Bank launched operations in New York City as an entirely de novo commercial banking institution rather than a rebranding of an existing pre-existing financial entity.