Savings Bank of Danbury

Headquarters

220 Main Street
Danbury, CT 06810
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.03% 1.60% →
1-Year CD 0.45% 1.55% →
2-Year CD 1.10% 1.45% →
5-Year CD 1.40% 1.66% →
30-Year Mortgage 4.56% 3.09% →
15-Year Mortgage 4.07% 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Savings Bank of Danbury is an FDIC insured institution located in Danbury, CT. It was founded in 1849 and has approximately $1.12 billion in assets. Customers can open an account at one of its 19 branches.

FDIC Insured Yes
FDIC Certificate # 15912
Date Established 1849
Assets $ 1,117.09 million
Loans $ 936.56 million
Deposits $ 903.21 million
Capital $ 135.45 million
 

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

Deposit Rates - June 3, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.03% $5 - Learn More
Money Market
0.05% $2,500 - Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $500 - Learn More
6 Mo CD
0.15% $500 - Learn More
12 Mo CD
0.45% $500 - Learn More
Special: 15 Mo CD
1.00% $1,000 - Learn More
18 Mo CD
1.06% $500 - Learn More
24 Mo CD
1.10% $500 - Learn More
36 Mo CD
1.10% $500 - Learn More
48 Mo CD
1.20% $500 - Learn More
60 Mo CD
1.40% $500 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.45% $500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1,000 $9,999 Learn MoreShow Less

Loan Rates - June 3, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
5 Year 5.99% 5.99% $483.20

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.

Branches

Savings Bank of Danbury 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:
Ashburn,Virginia


Savings Bank of Danbury Locations


Financial Details

Savings Bank of Danbury Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Savings Bank of Danbury. 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
Savings Bank of Danbury U.S. Bank Average
9.47% 6.51%

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 December 31, 2019, Savings Bank of Danbury had $12,550,000 in non-current loans and $1,106,000 in owned real estate. To cover these potential losses it had $135,450,000 in equity and $8,715,000 in loans loss reserves. That gives it a Texas Ratio of 9.47%.

Return on Equity
Savings Bank of Danbury U.S. Bank Average
9.07% 9.41%

Savings Bank of Danbury has a Return on Equity of 9.07% versus the BestCashCow average of 9.41%. 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
Savings Bank of Danbury U.S. Bank Average
12.13% 12.82%

Savings Bank of Danbury has a Capitalization of 12.13% versus the BestCashCow average of 12.82. 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.

Savings Bank of Danbury Balance Sheet Analysis

As of December 31, 2019, Savings Bank of Danbury had assets of $1,117,094,000, loans of $936,559,000, and deposits of $903,205,000. 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

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 41.94 million
Interest-bearing balances $ 29.40 million
Total securities $ 82.45 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 936.56 million
Loan loss allowance $ 8.72 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 1.11 million
Goodwill and other intangibles $ 3.01 million
All other assets $ 36.62 million
     Total Assets $ 981.64 million
LIABILITIES
Total deposits $ 903.21 million
      Interest-bearing deposits $ 859.46 million
      Deposits held in domestic offices $ 903.21 million
      % insured (estimated) 81.46%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 67.22 million
Subordinated debt N.A.
All other liabilities $ 11.22 million
      Total Liabilities $ 981.64 million
      Shareholders’ Equity $ 135.45 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 46.31 million
Total Interest Expense $ 9.47 million
Net interest income $ 36.84 million
Provision for loan and lease losses $ 0.84 million
Total non interest income $ 6.63 million
Total non interest expense $ 28.32 million
Pre-tax Net Operating Income $ 14.31 million

Bank Loan Profile?

The top three loan types in Savings Bank of Danbury’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks in Connecticut, Savings Bank of Danbury has a significantly higher percent of Construction and Development 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 60.16
Multifamily
Mortgages
2.08
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 7.65
Construction and Development Loans 8.76
Commercial Real Estate 22.75
Commercial and Industrial Loans 6.27
Farm Loans 0.00

Frequently Asked Questions About Savings Bank Of Danbury

Branches and Savings

Is Savings Bank Of Danbury FDIC insured?

Yes. It is covered under FDIC Certificate #15912.

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

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

Why are Savings Bank Of Danbury CD rates not competitive?

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

Is Savings Bank Of Danbury a commercial bank?

Yes

Where are Savings Bank Of Danbury locations?

See branch locations nearby.

Is Savings Bank Of Danbury open on Saturdays?

Is Savings Bank Of Danbury open on Sundays?

What time does Savings Bank Of Danbury open?

What time does Savings Bank Of Danbury close?

Are Savings Bank Of Danbury ATMs Open 24/7?

Do Savings Bank Of Danbury ATMs accept cash deposits?

Can Savings Bank Of Danbury customers use other ATMs?

Do Savings Bank Of Danbury branches have notaries?

Will Savings Bank Of Danbury notarize my document?

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

Will the Savings Bank Of Danbury branch print checks?

Do Savings Bank Of Danbury checks expire?

Does Savings Bank Of Danbury require US citizenship to open account?

Can Savings Bank Of Danbury close my account?

Does Savings Bank Of Danbury Report to credit bureaus?

Does Savings Bank Of Danbury Use Equifax?

What is Savings Bank Of Danbury's ACH Routing Number?

What is Savings Bank Of Danbury's SWIFT code?

Products

Does Savings Bank Of Danbury offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Savings Bank Of Danbury offer personal loans?

Compare personal loan rates here.

Does Savings Bank Of Danbury offer student loans?

Will Savings Bank Of Danbury cash a check?

Will Savings Bank Of Danbury redeem a savings bond?

Does Savings Bank Of Danbury cash savings bonds?

Will Savings Bank Of Danbury cash money orders?

Can Savings Bank Of Danbury issue a money order?

Does Savings Bank Of Danbury do currency exchange?

Background on The Bank

Who owns Savings Bank Of Danbury?

How long has Savings Bank Of Danbury been around?

Can Savings Bank Of Danbury transfer to other banks?

Does Savings Bank Of Danbury have quick pay?

Does Savings Bank Of Danbury accept rolled coins?

Will Savings Bank Of Danbury accept loose change?

Where is Savings Bank Of Danbury headquarters?

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