Savings Institute Bank and Trust Company

803 Main Street
Willimantic, CT 06226

 

2018 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 18214
Date Established 1842
Assets $1.58 billion
Loans $1.26 billion
Deposits $1.23 billion
Capital $0.16 billion

Savings Institute Bank and Trust Company is an FDIC insured institution located in Willimantic, CT. It was founded in 1842 and has approximately $1.58 billion in assets. Customers can open an account at one of its 26 branches.

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

Bank Loan Profile?

The top three loan types in Savings Institute Bank and Trust Company’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Commercial and Industrial Loans.

Compared to other banks, Savings Institute Bank and Trust Company’s loan portfolio does not show any specific loan specialty.

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 35.68
Multifamily
Mortgages
8.17
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 6.31
Construction and Development Loans 2.96
Commercial Real Estate 32.98
Commercial and Industrial Loans 16.22
Farm Loans 0.00

Deposit Rates - November 19, 2018

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.05% $1 $4,999 Learn MoreShow Less
Money Market
0.10% $5,000 $24,999 Learn MoreShow Less
Money Market
0.15% $25,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.15% $500 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.25% $500 - Learn MoreShow Less
Special: 27 Mo FIRA
2.75% $500 $1,000,000 Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
1.02% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $500 - Learn MoreShow Less

Loan Rates - November 19, 2018

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 5.99% 5.99% $760.44
4 Year 6.24% 6.24% $589.88
5 Year 7.25% 7.25% $497.98
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.

Branches

Savings Institute Bank and Trust Company 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 Institute Bank and Trust Company Locations

Financial Details

Savings Institute Bank and Trust Company Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Savings Institute Bank and Trust Company. 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 Institute Bank and Trust Company U.S. Bank Average
4.88% 7.92%

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 June 30, 2018, Savings Institute Bank and Trust Company had $7,902,000 in non-current loans and $625,000 in owned real estate. To cover these potential losses it had $161,516,000 in equity and $13,235,000 in loans loss reserves. That gives it a Texas Ratio of 4.88%.

Return on Equity
Savings Institute Bank and Trust Company U.S. Bank Average
6.29% 9.77%

Savings Institute Bank and Trust Company has a Return on Equity of 6.29% versus the BestCashCow average of 9.77%. 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 Institute Bank and Trust Company U.S. Bank Average
10.19% 12.31%

Savings Institute Bank and Trust Company has a Capitalization of 10.19% versus the BestCashCow average of 12.31. 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 Institute Bank and Trust Company Balance Sheet Analysis

As of June 30, 2018, Savings Institute Bank and Trust Company had assets of $1,584,413,000, loans of $1,257,357,000, and deposits of $1,231,465,000. 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

June 30, 2018
ASSETS
Cash & Balances due from depository institutions $0.08 billion
Interest-bearing balances $0.07 billion
Total securities $0.14 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $1.26 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 $0.02 billion
All other assets $0.06 billion
     Total Assets $1.42 billion
LIABILITIES
Total deposits $1.23 billion
      Interest-bearing deposits $1.01 billion
      Deposits held in domestic offices $1.23 billion
      % insured (estimated) 84.61%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.17 billion
Subordinated debt $0.00 billion
All other liabilities $0.02 billion
      Total Liabilities $1.42 billion
      Shareholders’ Equity $0.16 billion

Summary Income Statement

June 30, 2018
INCOME AND EXPENSES
Total Interest Income $0.03 billion
Total Interest Expense $0.01 billion
Net interest income $0.02 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.02 billion
Pre-tax Net Operating Income $0.01 billion

Frequently Asked Questions About Savings Institute Bank And Trust Company

Branches and Savings

Is Savings Institute Bank And Trust Company FDIC insured?

Yes. It is covered under FDIC Certificate #18214.

Why does Savings Institute Bank And Trust Company pay such low interest on savings accounts?

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

Why are Savings Institute Bank And Trust Company CD rates not competitive?

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

Is Savings Institute Bank And Trust Company a commercial bank?

Yes

Where are Savings Institute Bank And Trust Company locations?

See branch locations nearby.

Is Savings Institute Bank And Trust Company open on Saturdays?

Is Savings Institute Bank And Trust Company open on Sundays?

What time does Savings Institute Bank And Trust Company open?

What time does Savings Institute Bank And Trust Company close?

Are Savings Institute Bank And Trust Company ATMs Open 24/7?

Do Savings Institute Bank And Trust Company ATMs accept cash deposits?

Can Savings Institute Bank And Trust Company customers use other ATMs?

Do Savings Institute Bank And Trust Company branches have notaries?

Will Savings Institute Bank And Trust Company notarize my document?

What address for Savings Institute Bank And Trust Company should I put for incoming ACH transfers?

Will the Savings Institute Bank And Trust Company branch print checks?

Do Savings Institute Bank And Trust Company checks expire?

Does Savings Institute Bank And Trust Company require US citizenship to open account?

Can Savings Institute Bank And Trust Company close my account?

Does Savings Institute Bank And Trust Company Report to credit bureaus?

Does Savings Institute Bank And Trust Company Use Equifax?

What is Savings Institute Bank And Trust Company's ACH Routing Number?

What is Savings Institute Bank And Trust Company's SWIFT code?

Products

Does Savings Institute Bank And Trust Company offer mortgages?

Compare mortgage rates here.

Does Savings Institute Bank And Trust Company offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Savings Institute Bank And Trust Company offer personal loans?

Compare personal loan rates here.

Does Savings Institute Bank And Trust Company offer student loans?

Will Savings Institute Bank And Trust Company cash a check?

Will Savings Institute Bank And Trust Company redeem a savings bond?

Does Savings Institute Bank And Trust Company cash savings bonds?

Will Savings Institute Bank And Trust Company cash money orders?

Can Savings Institute Bank And Trust Company issue a money order?

Does Savings Institute Bank And Trust Company do currency exchange?

Background on The Bank

Who owns Savings Institute Bank And Trust Company?

How long has Savings Institute Bank And Trust Company been around?

Can Savings Institute Bank And Trust Company transfer to other banks?

Does Savings Institute Bank And Trust Company have quick pay?

Does Savings Institute Bank And Trust Company accept rolled coins?

Will Savings Institute Bank And Trust Company accept loose change?

Where is Savings Institute Bank And Trust Company headquarters?

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