Spencer Savings Bank, SLA

River Drive Center 3 - 611 River Drive
Elmwood Park, NJ 07407

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 30076
Date Established 1939
Assets $2.95 billion
Loans $2.22 billion
Deposits $2.07 billion
Capital $0.32 billion

Spencer Savings Bank, SLA is an FDIC insured institution located in Elmwood Park, NJ. It was founded in 1939 and has approximately $2.95 billion in assets. Customers can open an account at one of its 22 branches.

For a more detailed analysis of Spencer Savings Bank, SLA'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 Spencer Savings Bank, SLA’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Commercial Real Estate.

Compared to other banks in New Jersey, Spencer Savings Bank, SLA has a significantly higher percent of Multifamily Mortgages 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 38.58
Multifamily
Mortgages
33.65
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 4.54
Construction and Development Loans 1.83
Commercial Real Estate 25.41
Commercial and Industrial Loans 1.22
Farm Loans 0.00

Deposit Rates - April 21, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.10% $100 $9,999 Learn MoreShow Less
Money Market
0.20% $10,000 - Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.15% $1,000 - Learn MoreShow Less
6 Mo CD
0.25% $1,000 - Learn MoreShow Less
12 Mo CD
0.45% $1,000 - Learn MoreShow Less
Special: 14 Mo CD
2.50% $25,000 - Learn MoreShow Less
18 Mo CD
1.00% $1,000 - Learn MoreShow Less
Special: 20 Mo CD
1.60% $1,000 - Learn MoreShow Less
24 Mo CD
0.80% $1,000 - Learn MoreShow Less
30 Mo CD
1.00% $1,000 - Learn MoreShow Less
36 Mo CD
1.35% $1,000 - Learn MoreShow Less
48 Mo CD
1.60% $1,000 - Learn MoreShow Less
60 Mo CD
2.45% $1,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.45% $500 - Learn MoreShow Less
Special: 14 Mo FIRA
2.50% $25,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.25% $50 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $9,999 Learn MoreShow Less

Loan Rates - April 21, 2019

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

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

Spencer Savings Bank, SLA 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


Spencer Savings Bank, SLA Locations


Financial Details

Spencer Savings Bank, SLA Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Spencer Savings Bank, SLA. 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
Spencer Savings Bank, SLA U.S. Bank Average
2.39% 6.97%

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 December 31, 2018, Spencer Savings Bank, SLA had $7,427,000 in non-current loans and $675,000 in owned real estate. To cover these potential losses it had $323,195,000 in equity and $16,280,000 in loans loss reserves. That gives it a Texas Ratio of 2.39%.

Return on Equity
Spencer Savings Bank, SLA U.S. Bank Average
4.83% 8.80%

Spencer Savings Bank, SLA has a Return on Equity of 4.83% versus the BestCashCow average of 8.80%. 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
Spencer Savings Bank, SLA U.S. Bank Average
10.96% 12.29%

Spencer Savings Bank, SLA has a Capitalization of 10.96% versus the BestCashCow average of 12.29. 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.

Spencer Savings Bank, SLA Balance Sheet Analysis

As of December 31, 2018, Spencer Savings Bank, SLA had assets of $2,947,705,000, loans of $2,224,019,000, and deposits of $2,066,487,000. 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, 2018
ASSETS
Cash & Balances due from depository institutions $0.02 billion
Interest-bearing balances $0.01 billion
Total securities $0.53 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $2.22 billion
Loan loss allowance $0.02 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 $0.14 billion
     Total Assets $2.62 billion
LIABILITIES
Total deposits $2.07 billion
      Interest-bearing deposits $1.87 billion
      Deposits held in domestic offices $2.07 billion
      % insured (estimated) 87.54%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.50 billion
Subordinated debt $0.00 billion
All other liabilities $0.06 billion
      Total Liabilities $2.62 billion
      Shareholders’ Equity $0.32 billion

Summary Income Statement

December 31, 2018
INCOME AND EXPENSES
Total Interest Income $0.10 billion
Total Interest Expense $0.03 billion
Net interest income $0.07 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.05 billion
Pre-tax Net Operating Income $0.02 billion

Frequently Asked Questions About Spencer Savings Bank, Sla

Branches and Savings

Is Spencer Savings Bank, Sla FDIC insured?

Yes. It is covered under FDIC Certificate #30076.

Why does Spencer Savings Bank, Sla pay such low interest on savings accounts?

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

Why are Spencer Savings Bank, Sla CD rates not competitive?

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

Is Spencer Savings Bank, Sla a commercial bank?

Yes

Where are Spencer Savings Bank, Sla locations?

See branch locations nearby.

Is Spencer Savings Bank, Sla open on Saturdays?

Is Spencer Savings Bank, Sla open on Sundays?

What time does Spencer Savings Bank, Sla open?

What time does Spencer Savings Bank, Sla close?

Are Spencer Savings Bank, Sla ATMs Open 24/7?

Do Spencer Savings Bank, Sla ATMs accept cash deposits?

Can Spencer Savings Bank, Sla customers use other ATMs?

Do Spencer Savings Bank, Sla branches have notaries?

Will Spencer Savings Bank, Sla notarize my document?

What address for Spencer Savings Bank, Sla should I put for incoming ACH transfers?

Will the Spencer Savings Bank, Sla branch print checks?

Do Spencer Savings Bank, Sla checks expire?

Does Spencer Savings Bank, Sla require US citizenship to open account?

Can Spencer Savings Bank, Sla close my account?

Does Spencer Savings Bank, Sla Report to credit bureaus?

Does Spencer Savings Bank, Sla Use Equifax?

What is Spencer Savings Bank, Sla's ACH Routing Number?

What is Spencer Savings Bank, Sla's SWIFT code?

Products

Does Spencer Savings Bank, Sla offer mortgages?

Compare mortgage rates here.

Does Spencer Savings Bank, Sla offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Spencer Savings Bank, Sla offer personal loans?

Compare personal loan rates here.

Does Spencer Savings Bank, Sla offer student loans?

Will Spencer Savings Bank, Sla cash a check?

Will Spencer Savings Bank, Sla redeem a savings bond?

Does Spencer Savings Bank, Sla cash savings bonds?

Will Spencer Savings Bank, Sla cash money orders?

Can Spencer Savings Bank, Sla issue a money order?

Does Spencer Savings Bank, Sla do currency exchange?

Background on The Bank

Who owns Spencer Savings Bank, Sla?

How long has Spencer Savings Bank, Sla been around?

Can Spencer Savings Bank, Sla transfer to other banks?

Does Spencer Savings Bank, Sla have quick pay?

Does Spencer Savings Bank, Sla accept rolled coins?

Will Spencer Savings Bank, Sla accept loose change?

Where is Spencer Savings Bank, Sla headquarters?

Customer Reviews for Spencer Savings Bank, SLA

There are currently no comments for Spencer Savings Bank, SLA. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →