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 -
March 30, 2025
SAVINGS RATES
APY
MIN
SAV
0.01%
$10
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 -
March 30, 2025
MORTGAGE PURCHASE
APR(%)
MONTHLY PAYMENT
15 Year Fixed Conforming
5.42%
$2,600.42
30 Year Fixed Conforming
6.39%
$2,054.29
MORTGAGE REFINANCE
APR(%)
MONTHLY PAYMENT
15 Year Fixed Conforming
6.33%
$2,657.31
30 Year Fixed Conforming
6.39%
$2,054.29
Overview 2025
General Bank Information
FDIC Insured
Yes
FDIC Certificate
# 23296
Date Established
1855
Assets
$ 7.67 billion
Loans
$ 5.75 billion
Deposits
$ 5.51 billion
Capital
$ 859.69 million
Summary Balance Sheet as of September 30, 2024
ASSETS
Cash & Balances due from depository institutions
$ 43.05 million
Interest-bearing balances
$ 4.65 million
Total securities
$ 1,535.57 million
Federal funds sold and reverse repurchase
N.A.
Net loans and leases
$ 5.75 billion
Loan loss allowance
$ 65.13 million
Trading account assets
N.A.
Bank premises and fixed assets
N.A.
Other real estate owned
$ 9.97 million
Goodwill and other intangibles
$ 73.04 million
All other assets
$ 172.43 million
Total Assets
$ 6.81 billion
LIABILITIES
Total deposits
$ 5.51 billion
Interest-bearing deposits
$ 4.49 billion
Deposits held in domestic offices
$ 5.51 billion
% insured (estimated)"
81.69%
Federal funds purchased and repurchase agreements
$ 82.79 million
Trading liabilities
N.A.
Other borrowed funds
$ 602.77 million
Subordinated debt
N.A.
All other liabilities
$ 99.92 millionn
Total Liabilities
$ 6.81 billion
Shareholders’ Equity
$ 859.69 million
Summary Income Statement as of September 30, 2024
INCOME AND EXPENSES
Total Interest Income
$ 263.17 million
Total Interest Expense
$ 142.88 million
Net interest income
$ 120.29 million
Provision for loan and lease losses
$ 2.70 million
Total non interest income
$ 40.36 million
Total non interest expense
$ 105.32 million
Pre-tax Net Operating Income
$ 37.75 million
Customer Reviews for Salem Five Cents Savings Bank
Branches
Click on location and enter new zip number to change."
Your current location is: Columbus, OH
Salem Five Cents Savings Bank Locations
There are currently no comments for Salem Five Cents Savings Bank. Be the first to share your experience. Please provide comments that will help others.