Solvay Bank


1537 Milton Avenue
Solvay, NY 13209
See all branch locations →

Notable Rates APY Vs.Others
Savings 1.00% 1.40% →
1-Year CD 0.30% 1.15% →
2-Year CD 0.75% 1.26% →
5-Year CD 1.30% 1.56% →
30-Year Mortgage 3.67% 3.09% →
15-Year Mortgage 3.08% 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Solvay Bank is an FDIC insured institution located in Solvay, NY. It was founded in 1917 and has approximately $0.98 billion in assets. Customers can open an account at one of its 9 branches.

FDIC Insured Yes
FDIC Certificate # 13297
Date Established 1917
Assets $ 979.96 million
Loans $ 588.68 million
Deposits $ 830.00 million
Capital $ 94.55 million

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

Deposit Rates - July 11, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
0.03% $1 - Learn More
Special: 12 Mo SAV
1.00% $1 $250,000 Learn More
Money Market
0.05% $2,500 $9,999 Learn More
Money Market
0.05% $10,000 $24,999 Learn More
Money Market
0.08% $25,000 $49,999 Learn More
Premium Money Market Account
0.05% $1 $24,999 Learn More
Premium Money Market Account
0.08% $25,000 $99,999 Learn More
3 Mo CD
0.05% $500 - Learn More
6 Mo CD
0.15% $500 - Learn More
12 Mo CD
0.30% $500 - Learn More
18 Mo CD
0.65% $500 - Learn More
24 Mo CD
0.75% $500 - Learn More
30 Mo CD
0.80% $500 - Learn More
36 Mo CD
1.00% $500 - Learn More
48 Mo CD
1.20% $500 - Learn More
60 Mo CD
1.30% $500 - Learn More

Fixed IRA
0.30% $500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.02% $1 - Learn MoreShow Less
Checking Rates APY MIN FEE
High Interest Checking 4.00% $0 $0.00 Learn MoreShow Less

Loan Rates - July 11, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 3.00% 3.00% $727.03
4 Year 3.25% 3.25% $556.12
5 Year 3.25% 3.25% $452.00
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.


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Financial Details

Solvay Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Solvay 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
Solvay Bank U.S. Bank Average
3.76% 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, Solvay Bank had $3,789,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $94,553,000 in equity and $6,270,000 in loans loss reserves. That gives it a Texas Ratio of 3.76%.

Return on Equity
Solvay Bank U.S. Bank Average
7.21% 7.80%

Solvay Bank has a Return on Equity of 7.21% 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.

Solvay Bank U.S. Bank Average
9.65% 12.68%

Solvay Bank has a Capitalization of 9.65% 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.

Solvay Bank Balance Sheet Analysis

As of March 31, 2020, Solvay Bank had assets of $979,963,000, loans of $588,683,000, and deposits of $829,997,000. 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
Cash & Balances due from depository institutions $ 71.31 million
Interest-bearing balances $ 60.01 million
Total securities $ 278.58 million
Federal funds sold and reverse repurchase $ 0.08 million
Net loans and leases $ 588.68 million
Loan loss allowance $ 6.27 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.06 million
All other assets $ 28.24 million
     Total Assets $ 885.41 million
Total deposits $ 830.00 million
      Interest-bearing deposits $ 627.40 million
      Deposits held in domestic offices $ 830.00 million
      % insured (estimated) 66.57%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 48.25 million
Subordinated debt N.A.
All other liabilities $ 7.16 million
      Total Liabilities $ 885.41 million
      Shareholders’ Equity $ 94.55 million

Summary Income Statement

March 31, 2020
Total Interest Income $ 7.86 million
Total Interest Expense $ 1.71 million
Net interest income $ 6.15 million
Provision for loan and lease losses $ 0.68 million
Total non interest income $ 1.26 million
Total non interest expense $ 4.77 million
Pre-tax Net Operating Income $ 1.97 million

Bank Loan Profile?

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

Compared to other banks in New York, Solvay Bank has a significantly higher percent of Credit Card Loans, Consumer Auto 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 49.57
Credit Card Loans 0.48
Consumer Auto Loans 13.21
Small Business Loans 0.00
Construction and Development Loans 3.33
Commercial Real Estate 16.99
Commercial and Industrial Loans 13.49
Farm Loans 0.00

Frequently Asked Questions About Solvay Bank

Branches and Savings

Is Solvay Bank FDIC insured?

Yes. It is covered under FDIC Certificate #13297.

Why does Solvay Bank pay such low interest on savings accounts?

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

Why are Solvay Bank CD rates not competitive?

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

Is Solvay Bank a commercial bank?


Where are Solvay Bank locations?

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Is Solvay Bank open on Saturdays?

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Are Solvay Bank ATMs Open 24/7?

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Will Solvay Bank notarize my document?

What address for Solvay Bank should I put for incoming ACH transfers?

Will the Solvay Bank branch print checks?

Do Solvay Bank checks expire?

Does Solvay Bank require US citizenship to open account?

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Does Solvay Bank Report to credit bureaus?

Does Solvay Bank Use Equifax?

What is Solvay Bank's ACH Routing Number?

What is Solvay Bank's SWIFT code?


Does Solvay Bank offer mortgages?

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Does Solvay Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Solvay Bank offer personal loans?

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Does Solvay Bank offer student loans?

Will Solvay Bank cash a check?

Will Solvay Bank redeem a savings bond?

Does Solvay Bank cash savings bonds?

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Does Solvay Bank do currency exchange?

Background on The Bank

Who owns Solvay Bank?

How long has Solvay Bank been around?

Can Solvay Bank transfer to other banks?

Does Solvay Bank have quick pay?

Does Solvay Bank accept rolled coins?

Will Solvay Bank accept loose change?

Where is Solvay Bank headquarters?

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