Forward engineering
SchemaBank lets you generate SQL statements and other database objects directly from the the ER diagram. Of course many other tools provide it, so no surprises there.

Reverse engineering
SchemaBank also lets you reverse engineer your existing database schema and import it into SchemaBank for editing.

Versioning and Change Management
One of the unique features of the product, not found in most schema designers, is that of versioning. SchemaBank lets you commit ERD data, Text Objects and database Options to a repository. This lets you easily play with you database schemas without fear of losing vital information, or if you are creating various versions of the database like say for testing and production release. You can also generate diff report showing the difference between two versions of the schemas.

Sharing Database Projects
Database projects created can also be shared with other developers, with the appropriate ‘read’ or ‘write’ access granted by the schema owner. The other developers should have an account with SchemaBank to access the project.

Database objects
You can enter the SQL statements directly for database objects like views, functions, triggers, etc.

GUI
The product also supports various color themes, if you do care about such things. The interface could also have been made a little bit more cleaner, specially the top part. Based on ExtJS, it drags a bit on slower connections but not so much that it breaks your flow of thought. As it relies heavily on Javascript, a faster browser like Chrome can make it run more smoother.

Pricing
SchemaBank provides a free version with a limit of a single project. The other options cost upward of dollar forty per month.

In closing
The product is still in beta, so expect some positive changes before the final release. A live demo can be found here.