Monroe Savings Bank

Headquarters

114 South Main Street
Williamstown, NJ 08094
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 0.95% →
1-Year CD 0.50% 1.01% →
2-Year CD 0.70% 0.95% →
5-Year CD 1.16% 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Monroe Savings Bank is an FDIC insured institution located in Williamstown, NJ. It was founded in 1870 and has approximately $0.09 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 30103
Date Established 1870
Assets $ 91.19 million
Loans $ 68.51 million
Deposits $ 64.63 million
Capital $ 13.21 million
 

For a more detailed analysis of Monroe Savings Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 21, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.15% $2,500 $4,999 Learn More
Money Market
0.15% $2,500 $2,999 Learn More
Money Market
0.15% $10,000 $14,999 Learn More
Money Market
0.15% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.30% $10,000 $14,999 Learn More
3 Mo CD
0.30% $100,000 $199,999 Learn More
6 Mo CD
0.30% $10,000 $14,999 Learn More
6 Mo CD
0.30% $100,000 $199,999 Learn More
12 Mo CD
0.50% $10,000 $14,999 Learn More
12 Mo CD
0.50% $100,000 $199,999 Learn More
18 Mo CD
0.70% $10,000 $14,999 Learn More
18 Mo CD
0.70% $100,000 $199,999 Learn More
24 Mo CD
0.70% $10,000 $14,999 Learn More
24 Mo CD
0.70% $100,000 $199,999 Learn More
30 Mo CD
0.75% $10,000 $14,999 Learn More
30 Mo CD
0.75% $100,000 $199,999 Learn More
36 Mo CD
0.80% $10,000 $14,999 Learn More
36 Mo CD
0.80% $100,000 $199,999 Learn More
48 Mo CD
1.01% $10,000 $14,999 Learn More
48 Mo CD
1.01% $100,000 $199,999 Learn More
60 Mo CD
1.16% $10,000 $14,999 Learn More
60 Mo CD
1.16% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less

Loan Rates - October 21, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Monroe Savings Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.569% 2.500% 0.88 $2,258 $988 Learn More
Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More
First Internet Bank
NMLS ID: 424182
2.565% 2.500% 0.88 $2,142 $988 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
See Table
4.000 %
$0 Learn More
More Info

Note to Monroe Savings Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Monroe Savings Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Monroe Savings Bank Locations


Financial Details

Monroe Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Monroe Savings Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Monroe Savings Bank U.S. Bank Average
1.87% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Monroe Savings Bank had $260,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $13,209,000 in equity and $690,000 in loans loss reserves. That gives it a Texas Ratio of 1.87%.

Return on Equity
Monroe Savings Bank U.S. Bank Average
3.96% 7.80%

Monroe Savings Bank has a Return on Equity of 3.96% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Monroe Savings Bank U.S. Bank Average
14.48% 12.68%

Monroe Savings Bank has a Capitalization of 14.48% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Monroe Savings Bank Balance Sheet Analysis

As of March 31, 2020, Monroe Savings Bank had assets of $91,193,000, loans of $68,512,000, and deposits of $64,630,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 8.81 million
Interest-bearing balances $ 8.28 million
Total securities $ 11.23 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 68.51 million
Loan loss allowance $ 0.69 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 1.77 million
     Total Assets $ 77.98 million
LIABILITIES
Total deposits $ 64.63 million
      Interest-bearing deposits $ 61.23 million
      Deposits held in domestic offices $ 64.63 million
      % insured (estimated) 91.21%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 12.75 million
Subordinated debt N.A.
All other liabilities $ 0.60 million
      Total Liabilities $ 77.98 million
      Shareholders’ Equity $ 13.21 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 0.96 million
Total Interest Expense $ 0.26 million
Net interest income $ 0.71 million
Provision for loan and lease losses $ 0.01 million
Total non interest income $ 0.01 million
Total non interest expense $ 0.54 million
Pre-tax Net Operating Income $ 0.17 million

Bank Loan Profile?

The top three loan types in Monroe Savings Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks in New Jersey, Monroe Savings Bank has a significantly higher percent of 1-4 Family Residential Loans, Consumer Auto Loans, Small Business Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 71.73
Multifamily
Mortgages
0.22
Credit Card Loans 0.00
Consumer Auto Loans 2.72
Small Business Loans 11.98
Construction and Development Loans 0.00
Commercial Real Estate 13.46
Commercial and Industrial Loans 0.68
Farm Loans 0.00

Frequently Asked Questions About Monroe Savings Bank

Branches and Savings

Is Monroe Savings Bank FDIC insured?

Yes. It is covered under FDIC Certificate #30103.

Why does Monroe Savings Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Monroe Savings Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Monroe Savings Bank a commercial bank?

Yes

Where are Monroe Savings Bank locations?

See branch locations nearby.

Is Monroe Savings Bank open on Saturdays?

Is Monroe Savings Bank open on Sundays?

What time does Monroe Savings Bank open?

What time does Monroe Savings Bank close?

Are Monroe Savings Bank ATMs Open 24/7?

Do Monroe Savings Bank ATMs accept cash deposits?

Can Monroe Savings Bank customers use other ATMs?

Do Monroe Savings Bank branches have notaries?

Will Monroe Savings Bank notarize my document?

What address for Monroe Savings Bank should I put for incoming ACH transfers?

Will the Monroe Savings Bank branch print checks?

Do Monroe Savings Bank checks expire?

Does Monroe Savings Bank require US citizenship to open account?

Can Monroe Savings Bank close my account?

Does Monroe Savings Bank Report to credit bureaus?

Does Monroe Savings Bank Use Equifax?

What is Monroe Savings Bank's ACH Routing Number?

What is Monroe Savings Bank's SWIFT code?

Products

Does Monroe Savings Bank offer mortgages?

Compare mortgage rates here.

Does Monroe Savings Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Monroe Savings Bank offer personal loans?

Compare personal loan rates here.

Does Monroe Savings Bank offer student loans?

Will Monroe Savings Bank cash a check?

Will Monroe Savings Bank redeem a savings bond?

Does Monroe Savings Bank cash savings bonds?

Will Monroe Savings Bank cash money orders?

Can Monroe Savings Bank issue a money order?

Does Monroe Savings Bank do currency exchange?

Background on The Bank

Who owns Monroe Savings Bank?

How long has Monroe Savings Bank been around?

Can Monroe Savings Bank transfer to other banks?

Does Monroe Savings Bank have quick pay?

Does Monroe Savings Bank accept rolled coins?

Will Monroe Savings Bank accept loose change?

Where is Monroe Savings Bank headquarters?

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