Average User Rating:
1 star rating based on 1 review.

Boiling Springs Savings Bank

25 Orient Way
Rutherford, NJ 07070
1-201-939-5000
www.bssbank.com

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At Boiling Springs Savings Bank, they believe that true community banking means providing their customers with the best solutions to their financial needs through superior personal and professional service provided by a staff of dedicated people. It also means being a part of the community. They strive to support their communities by making a positive impact on the organizations and neighborhoods within their market.

Boiling Springs Savings Bank Routing Number: 221271359

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See Rates for: Checking | Savings | Money Market | CD | IRA

Boiling Springs Savings Bank Checking Account Rates

Apy	Min	Max	Product
0.25%	$50k	-	Premium Checking
0.15%	-	-	NOW Checking
0.15%	-	-	Direct Deposit Checking
0.15%	-	-	Classic Checking
0.15%	-	-	Student Checking

Boiling Springs Savings Bank Savings Account Rates

Apy	Min	Max	Product
1.00%	-	-	IOLTA Fund
0.35%	$50k	-	Statement Savings
0.35%	$25k	-	IRA Asset Builder
0.30%	-	-	Boiling Bucks Youth Savings
0.20%	-	-	Passbook Savings
0.20%	-	-	Holiday Club
0.20%	-	-	Special Occasion Savings

Boiling Springs Savings Bank Money Market Rates

	Apy	Min	Max	Product
	0.25%	$25k	-	Money Market Checking

Boiling Springs Savings Bank CD Rates

Apy	Min	Max	Product
1.40%	$1k	-	5 Year CD
1.00%	$1k	-	3 Year CD
0.75%	$1k	-	2 Year CD
0.65%	$1k	-	18 Month CD
0.45%	$1k	-	12 Month CD
0.45%	$1k	-	15 Month CD
0.30%	$1k	-	182 Day CD
0.30%	$1k	-	7 Month CD
0.20%	$1k	-	91 Day CD

Boiling Springs Savings Bank IRA Rates

Apy	Min	Max	Product
2.00%	$1k	-	IRA 5 Year CD
2.00%	$1k	-	Roth IRA 5 Year CD
2.00%	$1k	-	SEP IRA 5 Year CD
1.00%	$1k	-	IRA 3 Year CD
1.00%	$1k	-	Roth IRA 3 Year CD
1.00%	$1k	-	SEP IRA 3 Year CD
0.75%	$1k	-	IRA 2 Year CD
0.75%	$1k	-	Roth IRA 2 Year CD
0.75%	$1k	-	SEP IRA 2 Year CD
0.65%	$1k	-	IRA 18 Month CD
0.65%	$1k	-	Roth IRA 18 Month CD
0.65%	$1k	-	SEP IRA 18 Month CD
0.45%	$1k	-	IRA 12 Month CD
0.45%	$1k	-	Roth IRA 12 Month CD
0.45%	$1k	-	SEP IRA 12 Month CD
0.36%	$250	-	IRA 18 Month Variable CD
0.36%	$250	-	Roth IRA 18 Month Variable CD
0.36%	$250	-	SEP IRA 18 Month Variable CD
0.30%	$1k	-	IRA 182 Day CD
0.30%	$1k	-	Roth IRA 182 Day CD
0.30%	$1k	-	SEP IRA 182 Day CD

Rates updated: 5/15/2013

Data for Q4 2012

Institution Statistics

Boiling Springs Savings Bank
FDIC Certificate #	30052
BankRate Report	View
Year Established	1939
Employees	179
Primary Regulator	FDIC
Assets and Liabilities
Assets	$1.36 billion
Loans	$1.00 billion
Deposits	$1.11 billion
Equity Capital	$184.15 million
Loan Loss Allowance	$15.30 million
Unbacked Noncurrent Loans	$41.13 million
Real Estate Owned	$3.77 million
Historic Data - December 2011
Assets	$1.36 billion
Equity Capital	$178.38 million
Loan Loss Allowance	$16.45 million
Unbacked Noncurrent Loans	$54.54 million
Real Estate Owned	$1.82 million
Profit Margin - Quarterly
Net Interest Margin	3.28%
Return on Assets	0.47%
Return on Equity	3.54%
Interest Income	$53.19 million

Institution Health

Overall Score:

4 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 Boiling Springs Savings Bank had $44.9 million in non-current loans and owned real-estate with $199.45 million in equity and loan loss allowances on hand to cover it. This gives Boiling Springs Savings Bank a Texas Ratio of 22.51% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Boiling Springs Savings Bank decreased slightly from 28.92% as of December 31, 2011 to 22.51% as of December 31, 2012, resulting in a positive change of 22.16%.This indicates that the balance sheet and financial strength for Boiling Springs Savings Bank has improved slightly in recent periods.
Deposit Growth
In the past year, Boiling Springs Savings Bank has decreased its total deposits by -$13.56 million, resulting in -1.2% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Boiling Springs Savings Bank has shown is below average.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Boiling Springs Savings Bank has $1.36 billion in assets with $199.45 million in equity, resulting in a capitalization level of 14.62%, which is excellent.

My Rating For This Bank Is A Zero
1 stars

- Anonymous - Saturday, May 29, 2010 - 9:01 PM

My rating for this bank is a zero. I approached the mortgage department asking for a reprieve for 2 months because I have a seasonal business. I paid my mortage promptly for 15 years but had a rough patch. They treated me like **** and were anxious to trash my credit. They keep sending me late fees for a balance of $3,000. Go to Wachovia in Rutherford and ask for Lina. This is the best bank and they care about their customers. Boiling Springs Savings Bank rates a zero in my book. I will tell all my friends.