Norway Savings Bank

261 Main Street
Norway, ME 04268

Notable Rates APY Vs.Others
Savings 0.03% 2.20% →
1-Year CD 0.15% 2.20% →
2-Year CD 0.30% 2.20% →
5-Year CD 0.95% 2.60% →
30-Year Mortgage 4.32% 3.31% →
15-Year Mortgage 3.36% 2.77% →
HELOC N.A. 4.00% →

2020 Overview

General Bank Information

Norway Savings Bank is an FDIC insured institution located in Norway, ME. It was founded in 1866 and has approximately $1.24 billion in assets. Customers can open an account at one of its 25 branches.

FDIC Insured Yes
FDIC Certificate # 17658
Date Established 1866
Assets $1.24 billion
Loans $1.01 billion
Deposits $1.02 billion
Capital $0.19 billion

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

Deposit Rates - February 19, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.05% $2,500 $24,999 Learn MoreShow Less
Money Market
0.08% $25,000 $49,999 Learn MoreShow Less
3 Mo CD
0.05% $500 - Learn MoreShow Less
6 Mo CD
0.10% $500 - Learn MoreShow Less
12 Mo CD
0.15% $500 - Learn MoreShow Less
18 Mo CD
0.25% $500 - Learn MoreShow Less
24 Mo CD
0.30% $500 - Learn MoreShow Less
36 Mo CD
0.50% $500 - Learn MoreShow Less
48 Mo CD
0.65% $500 - Learn MoreShow Less
60 Mo CD
0.95% $500 - Learn MoreShow Less

Fixed IRA
0.15% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
0.25% $500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
0.05% $2,500 $24,999 Learn MoreShow Less

Loan Rates - February 19, 2020

Your Current Location: Virginia, VA 20146

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.


Norway 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.

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Norway Savings Bank Locations

Financial Details

Norway Savings Bank Ratio Analysis

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

Texas Ratio
Norway Savings Bank U.S. Bank Average
1.04% 6.70%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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 September 30, 2019, Norway Savings Bank had $2,065,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $190,058,000 in equity and $8,187,000 in loans loss reserves. That gives it a Texas Ratio of 1.04%.

Return on Equity
Norway Savings Bank U.S. Bank Average
10.96% 9.72%

Norway Savings Bank has a Return on Equity of 10.96% versus the BestCashCow average of 9.72%. 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.

Norway Savings Bank U.S. Bank Average
15.32% 12.89%

Norway Savings Bank has a Capitalization of 15.32% versus the BestCashCow average of 12.89. 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.

Norway Savings Bank Balance Sheet Analysis

As of September 30, 2019, Norway Savings Bank had assets of $1,240,612,000, loans of $1,007,586,000, and deposits of $1,016,669,000. 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

September 30, 2019
Cash & Balances due from depository institutions $0.04 billion
Interest-bearing balances $0.02 billion
Total securities $0.11 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $1.01 billion
Loan loss allowance $0.01 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.01 billion
All other assets $0.03 billion
     Total Assets $1.05 billion
Total deposits $1.02 billion
      Interest-bearing deposits $0.72 billion
      Deposits held in domestic offices $1.02 billion
      % insured (estimated) 83.16%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.02 billion
Subordinated debt $0.00 billion
All other liabilities $0.02 billion
      Total Liabilities $1.05 billion
      Shareholders’ Equity $0.19 billion

Summary Income Statement

September 30, 2019
Total Interest Income $0.04 billion
Total Interest Expense $0.00 billion
Net interest income $0.04 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.01 billion
Total non interest expense $0.03 billion
Pre-tax Net Operating Income $0.01 billion

Bank Loan Profile?

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

Compared to other banks in Maine, Norway Savings Bank has a significantly higher percent of 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 49.65
Credit Card Loans 0.00
Consumer Auto Loans 0.19
Small Business Loans 10.52
Construction and Development Loans 2.90
Commercial Real Estate 29.90
Commercial and Industrial Loans 6.20
Farm Loans 0.01

Frequently Asked Questions About Norway Savings Bank

Branches and Savings

Is Norway Savings Bank FDIC insured?

Yes. It is covered under FDIC Certificate #17658.

Why does Norway 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 Norway Savings Bank CD rates not competitive?

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

Is Norway Savings Bank a commercial bank?


Where are Norway Savings Bank locations?

See branch locations nearby.

Is Norway Savings Bank open on Saturdays?

Is Norway Savings Bank open on Sundays?

What time does Norway Savings Bank open?

What time does Norway Savings Bank close?

Are Norway Savings Bank ATMs Open 24/7?

Do Norway Savings Bank ATMs accept cash deposits?

Can Norway Savings Bank customers use other ATMs?

Do Norway Savings Bank branches have notaries?

Will Norway Savings Bank notarize my document?

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

Will the Norway Savings Bank branch print checks?

Do Norway Savings Bank checks expire?

Does Norway Savings Bank require US citizenship to open account?

Can Norway Savings Bank close my account?

Does Norway Savings Bank Report to credit bureaus?

Does Norway Savings Bank Use Equifax?

What is Norway Savings Bank's ACH Routing Number?

What is Norway Savings Bank's SWIFT code?


Does Norway Savings Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Norway Savings Bank offer personal loans?

Compare personal loan rates here.

Does Norway Savings Bank offer student loans?

Will Norway Savings Bank cash a check?

Will Norway Savings Bank redeem a savings bond?

Does Norway Savings Bank cash savings bonds?

Will Norway Savings Bank cash money orders?

Can Norway Savings Bank issue a money order?

Does Norway Savings Bank do currency exchange?

Background on The Bank

Who owns Norway Savings Bank?

How long has Norway Savings Bank been around?

Can Norway Savings Bank transfer to other banks?

Does Norway Savings Bank have quick pay?

Does Norway Savings Bank accept rolled coins?

Will Norway Savings Bank accept loose change?

Where is Norway Savings Bank headquarters?

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