Salem Five Cents Savings Bank
For information concerning Salem Five Direct online bank, please click here .
Salem Five Cents Savings Bank is an FDIC insured institution headquartered at
71 Washington St, Salem, MA 01970.
It was founded in
1855 and has approximately $8 billion in assets. Customers can open an account at one of its 35 branches.
Deposit Rates - November 05, 2025
| SAVINGS RATES | APY | MIN | |
|---|---|---|---|
|
SAV
|
0.01% | $10 | Compare |
| CD RATES | APY | MIN | |
|---|---|---|---|
|
6 Mo CD
|
4.25% | $2,500 | Compare |
|
9 Mo CD
|
4.15% | $10,000 | Compare |
|
12 Mo CD
|
4.50% | $500 | Compare |
|
12 Mo CD
|
4.50% | $10,000 | Compare |
|
18 Mo CD
|
4.25% | $500 | Compare |
|
18 Mo CD
|
4.25% | $10,000 | Compare |
|
24 Mo CD
|
4.25% | $500 | Compare |
|
24 Mo CD
|
4.25% | $10,000 | Compare |
|
30 Mo CD
|
0.35% | $500 | Compare |
|
30 Mo CD
|
2.00% | $10,000 | Compare |
|
36 Mo CD
|
0.35% | $500 | Compare |
|
36 Mo CD
|
2.00% | $10,000 | Compare |
|
48 Mo CD
|
0.50% | $500 | Compare |
|
48 Mo CD
|
2.25% | $10,000 | Compare |
|
60 Mo CD
|
0.50% | $500 | Compare |
|
60 Mo CD
|
2.25% | $10,000 | Compare |
| MM RATES | APY | MIN | |
|---|---|---|---|
|
Money Market
|
0.10% | $0 | Compare |
|
Money Market
|
0.10% | $10,000 | Compare |
|
Money Market
|
3.70% | $50,000 | Compare |
| FIXED IRA RATES | APY | MIN |
|---|---|---|
|
12 Mo FIRA
|
4.50% | $2,000 |
|
18 Mo FIRA
|
4.25% | $2,000 |
|
24 Mo FIRA
|
4.25% | $2,000 |
|
30 Mo FIRA
|
2.00% | $2,000 |
|
36 Mo FIRA
|
2.00% | $2,000 |
|
48 Mo FIRA
|
2.25% | $2,000 |
|
60 Mo FIRA
|
2.25% | $2,000 |
Loan Rates - November 05, 2025
| MORTGAGE PURCHASE | APR(%) | MONTHLY PAYMENT |
|---|---|---|
|
15 Year Fixed Conforming
|
5.42% | $2,600.42 |
|
30 Year Fixed Conforming
|
6.39% | $2,054.29 |
Compare with 0.000% APR and 0.000% 30-Year Fixed RATE from Quicken Loans
|
||
| MORTGAGE REFINANCE | APR(%) | MONTHLY PAYMENT |
|---|---|---|
|
15 Year Fixed Conforming
|
6.33% | $2,657.31 |
|
30 Year Fixed Conforming
|
6.39% | $2,054.29 |
|
Compare with 0.000% APR and 0.000% 30-Year Fixed RATE from Quicken Loans
|
||
Overview 2025
General Bank Information
| FDIC Insured | Yes |
| FDIC Certificate | # 23296 |
| Date Established | 1855 |
| Assets | $ 8.29 billion |
| Loans | $ 6.34 billion |
| Deposits | $ 5.75 billion |
| Capital | $ 915.62 million |
Summary Balance Sheet as of June 30, 2025
| ASSETS | |
| Cash & Balances due from depository institutions | $ 53.36 million |
| Interest-bearing balances | $ 9.98 million |
| Total securities | $ 1,547.40 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 6.34 billion |
| Loan loss allowance | $ 70.76 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 10.12 million |
| Goodwill and other intangibles | $ 69.93 million |
| All other assets | $ 172.43 million |
| Total Assets | $ 7.38 billion |
| LIABILITIES | |
| Total deposits | $ 5.75 billion |
| Interest-bearing deposits | $ 4.72 billion |
| Deposits held in domestic offices | $ 5.75 billion |
| % insured (estimated)" | 82.31% |
| Federal funds purchased and repurchase agreements | $ 83.61 million |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 602.77 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 99.92 millionn |
| Total Liabilities | $ 7.38 billion |
| Shareholders’ Equity | $ 915.62 million |
Summary Income Statement as of June 30, 2025
| INCOME AND EXPENSES | |
| Total Interest Income | $ 190.04 million |
| Total Interest Expense | $ 97.74 million |
| Net interest income | $ 92.31 million |
| Provision for loan and lease losses | $ 3.00 million |
| Total non interest income | $ 28.51 million |
| Total non interest expense | $ 72.99 million |
| Pre-tax Net Operating Income | $ 37.75 million |
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