Watertown Savings Bank

Headquarters

111 Clinton St
Watertown, NY 13601
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Notable Rates APY Vs.Others
Savings N.A. 5.55% →
1-Year CD N.A. 5.60% →
2-Year CD N.A. 4.90% →
5-Year CD N.A. 4.55% →
30-Year Mortgage 7.19% 4.91% →
15-Year Mortgage 6.99% 4.39% →
HELOC 5.25% 0.99% →

2024 Overview

General Bank Information

Watertown Savings Bank is an FDIC insured institution located in Watertown, NY. It was founded in 1894 and has approximately $0.9 billion in assets. Customers can open an account at one of its 10 branches.

FDIC Insured Yes
FDIC Certificate # 15990
Date Established 1894
Assets $ 895.56 million
Loans $ 513.25 million
Deposits $ 753.34 million
Capital $ 135.76 million
 

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

Deposit Rates - April 23, 2024

Your Current Location: Virginia, VA 20146

Checking Rates APY MIN FEE
Plus Checking 0.00% $100 $5.00 Learn MoreShow Less

Loan Rates - April 23, 2024

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 4.25% 4.25% $740.88
4 Year 4.25% 4.25% $567.28
5 Year 4.25% 4.25% $463.24
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

Watertown 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.

Your Location:
Ashburn,Virginia


Watertown Savings Bank Locations



Climate Policy and Initiatives

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Financial Details

Watertown Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Watertown Savings Bank. 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
Watertown Savings Bank U.S. Bank Average
1.79% 3.96%

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, 2024, Watertown Savings Bank had $2,266,000 in non-current loans and $272,000 in owned real estate. To cover these potential losses it had $135,762,000 in equity and $6,118,000 in loans loss reserves. That gives it a Texas Ratio of 1.79%.

Return on Equity
Watertown Savings Bank U.S. Bank Average
7.54% 12.20%

Watertown Savings Bank has a Return on Equity of 7.54% versus the BestCashCow average of 12.20%. 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
Watertown Savings Bank U.S. Bank Average
15.16% 10.76%

Watertown Savings Bank has a Capitalization of 15.16% versus the BestCashCow average of 10.76. 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.

Watertown Savings Bank Balance Sheet Analysis

As of December 31, 2023, Watertown Savings Bank had assets of $895,558,000, loans of $513,254,000, and deposits of $753,339,000. 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, 2024
ASSETS
Cash & Balances due from depository institutions $ 52.25 million
Interest-bearing balances $ 43.65 million
Total securities $ 253.72 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 513.25 million
Loan loss allowance $ 6.12 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.27 million
Goodwill and other intangibles $ 12.57 million
All other assets $ 47.92 million
     Total Assets $ 759.80 million
LIABILITIES
Total deposits $ 753.34 million
      Interest-bearing deposits $ 430.06 million
      Deposits held in domestic offices $ 753.34 million
      % insured (estimated) 85.35%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 6.07 million
      Total Liabilities $ 759.80 million
      Shareholders’ Equity $ 135.76 million

Summary Income Statement

December 31, 2024
INCOME AND EXPENSES
Total Interest Income $ 31.43 million
Total Interest Expense $ 1.66 million
Net interest income $ 29.77 million
Provision for loan and lease losses $ 1.03 million
Total non interest income $ 5.18 million
Total non interest expense $ 21.75 million
Pre-tax Net Operating Income $ 6.11 million

Bank Loan Profile?

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

Compared to other banks in New York, Watertown 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 32.35
Multifamily
Mortgages
4.56
Credit Card Loans 0.00
Consumer Auto Loans 0.79
Small Business Loans 17.44
Construction and Development Loans 5.15
Commercial Real Estate 40.73
Commercial and Industrial Loans 9.97
Farm Loans 0.01

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