Crescent Bank

What Crescent Bank does

Crescent Bank is a Louisiana-chartered, FDIC-insured community bank founded in 1991 by Gary N. Solomon Sr. and Fred B. Morgan III, headquartered in New Orleans. For most of its operating history the bank was structured around two businesses: a national indirect subprime auto finance platform (Crescent Auto Finance) originating loans through a network of more than 1,200 franchise and independent dealerships across 34+ states, and a community banking franchise serving the greater New Orleans market through two branch locations. Over a 30-year history, Crescent originated more than $5.3 billion in auto loans, including $652 million in the trailing two years prior to the auto finance divestiture, supported by an auto-decision underwriting engine producing credit decisions within approximately 15 seconds of application receipt and an e-contracting platform.

In October 2025 the bank executed a transformative divestiture, selling Crescent Auto Finance — including an $815 million originated loan portfolio, the e-contracting and auto-decision technology stack, and approximately 180 employees — to Arra Finance, a subprime auto lender backed by Obra Capital and supported by a Goldman Sachs credit facility. Post-divestiture, Crescent Bank retains a focused community and digital banking franchise comprising certificates of deposit (4.15% APY on 18-month CD), Jumbo Savings (3.00% APY), tiered Money Market accounts (up to 3.50% APY), Personal and Commercial Checking, IRAs, debit cards, safe deposit boxes, commercial lending for SMBs in greater New Orleans, and a Recreational and Specialty Loans platform serving RV and boat financing. The bank has consolidated its New Orleans branch footprint to a single Metairie location following the October 2025 closure of the Poydras Street branch.

Crescent Bank's go-to-market is hybrid: retail and commercial banking products are distributed direct-to-consumer through the branch, online banking platform, and mobile app (available on iOS and Android, with over 10,000 Google Play downloads), while deposit products are distributed nationwide online. Revenue is generated primarily through net interest margin on loans and securities, deposit gathering, and commercial banking fees. Following the divestiture, the bank's revenue base is materially smaller and is concentrated in spread-based retail and commercial banking activities, with the Recreational and Specialty Loans platform positioned as a niche growth vertical.

Name

Crescent Bank

Legal name

Crescent Bank

Website

https://cbtno.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

251–500 employees

Short description

Crescent Bank is a Louisiana-chartered, FDIC-insured community bank offering retail deposits, commercial banking, and specialty RV/boat lending nationwide online and through its New Orleans-area branch, following the 2025 divestiture of its subprime auto finance division to Arra Finance.

Ownership category

akta.pro rank

Headquarters

HQ city

New Orleans

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Net Interest Income - Auto Loans: Interest income from auto loan portfolio. The bank originated approximately $5.3 billion in auto loans over 30 years and $652 million in the last two years prior to the Arra Finance acquisition of the auto finance division.
2. Deposit Taking and Interest: The bank takes deposits (CDs, savings, checking, money market) and pays interest to depositors, earning net interest margin. Offers competitive rates on CDs (4.15% APY on 18-month CD) and savings products.
3. Commercial Lending: Commercial banking and lending services for businesses in the greater New Orleans area, including commercial checking and NOW accounts with interest earning on balances.
4. Recreational & Specialty Loans: Loans for RVs and boats through a dedicated servicing platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Crescent Bank is a Louisiana-chartered, FDIC-insured community bank that gathers deposits and lends money. It offers FDIC-insured Certificates of Deposit, savings, money market, personal and commercial checking, IRAs, debit cards, and safe deposit boxes through two New Orleans-area branches and nationwide digital channels. It also originates subprime indirect auto loans and recreational/specialty loans (RVs and boats) through dedicated lending platforms.

Product overview

Crescent Bank is a Louisiana-chartered, FDIC-insured community bank offering a comprehensive suite of banking and lending products. The bank operates a dual-product architecture combining retail/commercial banking services with subprime auto financing through its Crescent Auto Finance subsidiary (recently rebranded and in process of being acquired by Arra Finance). Banking products include Certificates of Deposit, Jumbo Savings, Money Market, Personal/Commercial Checking, IRAs, Debit Cards, and Safe Deposit Boxes. Auto financing services target subprime borrowers with FICO scores as low as 450, featuring rapid credit decisions within 15 seconds. The bank also offers recreational and specialty loans for RVs and boats. Digital banking is delivered through online platforms and a mobile application.

Differentiator

Problem solved

Functional benefit

Brands

• Crescent Auto Finance: Auto financing division offering subprime auto loans to consumers with credit challenges. Now operated by Arra Finance after acquisition.

Products and services

• Certificates of Deposit (CDs) FDIC-insured time deposit accounts with fixed interest rates and terms ranging from 12 to 60 months, offering competitive APY rates with automatic renewal options for retail savers nationwide.
• Jumbo Savings High-yield savings account requiring a $100,000 minimum opening deposit, earning 3.00% APY with 24/7 online access and no monthly fees for retail depositors.
• Money Market Account Interest-bearing account with tiered APY rates from 3.25% to 3.50% based on balance, offering unlimited deposits and ATM cash withdrawals for personal and commercial customers.
• Personal Checking Personal checking account with debit card access, no charge for Crescent Bank ATM withdrawals, and tiered monthly service fees based on minimum balance requirements.
• Commercial Checking Business checking account with unlimited check writing privileges and an optional Business NOW interest-earning feature, where credit is based on average balance against the 90-day U.S. Treasury Bill rate.
• Individual Retirement Account (IRA) Tax-advantaged retirement savings account offered in Traditional and Roth IRA variants with competitive fixed interest rates and no market risk.
• Safe Deposit Boxes Secure storage for valuables and documents available in four sizes at two full-service branch locations, with annual fees ranging from $20 to $100.
• Auto Loans Indirect auto financing for subprime borrowers with multiple payment methods including online, phone, mail, MoneyGram, Western Union, and in-person at branch locations; the origination business was divested to Arra Finance in 2025, with Crescent Bank retaining customer servicing and existing relationships.
• Recreational & Specialty Loans Financing for recreational vehicles and boats, accessible through the dedicated portal at crescentbank.acct-admin.com with its own servicing operations.
• Crescent Bank Mobile App Mobile banking application enabling balance checking, payments, transaction history review, and secure messaging for both banking accounts and auto loans.

Quantifiable outcome

• Over $5.3 billion in auto loans originated over 30-year history
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

One partnership is on record.

• Arra FinancemajorOthers · 11 June 2025Arra Finance acquired Crescent Bank's auto financing division in 2025. The transaction included Crescent's $815 million auto loan portfolio, e-contracting technology, internal loan servicing capabilities, and accelerated auto-decision technology. Approximately 180 Crescent employees transitioned to Arra. Crescent Bank retained its branch banking, online retail banking, and commercial lending operations.

Scale indicators5 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Credit Acceptance Corporation: Public subprime indirect auto lender serving franchise and independent dealers nationwide. Crescent's Crescent Auto Finance division competed head-to-head with CAC's program in dealer relationships, credit decisioning speed, and deep subprime borrower underwriting prior to the Arra divestiture.
• Consumer Portfolio Services: Subprime indirect auto lender with a comparable dealer-based origination model and similar target borrower profile. CPS's focus on near-prime and subprime credit and dealer network breadth directly mirrors Crescent Auto Finance's pre-divestiture footprint.
• Westlake Financial Services: Indirect subprime auto lender operating through a large national dealer network with rapid credit decisioning. Highly comparable to Crescent Auto Finance in product offering, target borrower (FICO 450+), and dealer-channel GTM motion.
• Exeter Finance: Subprime and near-prime indirect auto lender serving thousands of dealers nationwide. Comparable technology stack (e-contracting, auto-decisioning), target borrower profile, and dealer-channel origination model to Crescent Auto Finance.
• DriveTime / DT Acceptance: Vertically integrated subprime auto lender and dealer group serving credit-challenged consumers. DriveTime's integrated finance-and-retail model overlaps with the borrower segment Crescent served (FICO 450+), and its captive dealer channel competed for the same indirect relationships.

Broad incumbents

• Ally Bank: National direct bank offering high-yield savings, CDs, and auto lending. Competes directly with Crescent's online deposit franchise on CD/savings rates and competes with the divested Crescent Auto Finance in indirect auto. A clear incumbent benchmark for Crescent's retained retail banking business.
• Marcus by Goldman Sachs: Goldman Sachs' online bank offering high-yield savings and CDs nationally. Directly comparable to Crescent's nationwide online deposit franchise on CD rates (often cited as a benchmark), digital UX, and target customer seeking yield without a physical branch relationship.
• Discover Bank: National online savings and CD provider with a strong digital brand. Competes with Crescent for nationwide rate-sensitive deposit customers and offers a similar self-service, FDIC-insured, branchless banking experience.

Regional players

• Home Bank (Louisiana): Louisiana-chartered community bank headquartered in Lafayette with a similar retail and commercial banking footprint in the state. Directly comparable to Crescent's retained New Orleans-area retail and commercial banking operations in scale, product mix, and regulatory profile.
• First Bank (Louisiana): Louisiana-headquartered community bank offering retail and commercial banking services across the Gulf South. Closely comparable in size, geography, and product set to Crescent's post-divestiture retained community banking business.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/crescentbank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Crescent Bank