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207-324-2285
900 Main Street
Sanford, ME 04073

Sanford Institution for Savings is headquartered in Sanford and is the 18st largest bank in the state of Maine. It is also the 1,504th largest bank in the nation. It was established in 1933 and as of March of 2014, it had grown to 114 employees at 9 locations. Sanford Institution for Savings has a A+ health rating.

Reviews (1)

Beware!!!!

Before you bank with SIS, beware. They charge overdraft fees even if you have a positive balance. This is not a bank I would recommend.



Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Sanford Institution for Savings had $1.12 million in non-current loans and owned real-estate with $55.37 million in equity and loan loss allowances on hand to cover it. This gives Sanford Institution for Savings a Texas Ratio of 2.02% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Sanford Institution for Savings decreased dramatically from 7.74% as of March 31, 2013 to 2.02% as of March 31, 2014, resulting in a positive change of 73.91%.This indicates that the balance sheet and financial strength for Sanford Institution for Savings has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Sanford Institution for Savings has increased its total deposits by $24.47 million, resulting in 7.6% 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 Sanford Institution for Savings has shown is excellent.

Capitalization

GRADE:
A+

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. Sanford Institution for Savings has $448.52 million in assets with $55.37 million in equity, resulting in a capitalization level of 12.34%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #17115
Year Established1933
Employees114
Primary RegulatorFDIC
Assets and Liabilities
Assets$448.52 million
Loans$357.87 million
Deposits$346.51 million
Equity Capital$51.66 million
Loan Loss Allowance$3.71 million
Unbacked Noncurrent Loans$1.12 million
Real Estate Owned$0
Historic Data - March 2013
Assets$427.64 million
Equity Capital$47.55 million
Loan Loss Allowance$4.62 million
Unbacked Noncurrent Loans$1.12 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.83%
Return on Assets0.48%
Return on Equity4.27%
Interest Income$4.94 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Sanford Institution for Savings, we are a rate comparison website and can not provide official rates or promotions.

Sanford Institution for Savings Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.07%$2,500-Best Interest ECO-Savings
0.07%$2,500-Best Interest Statement Savings
0.05%$5k-IRA Savings
0.02%$100-Basic Statement Savings
0.02%--Christmas Club Statement Savings
0.02%--All Purpose Club Statement Savings

Sanford Institution for Savings Money Market Rates

DetailsAPYMINMAXPRODUCT
0.12%$200k-Reward Money Market Statement Savings
0.08%$50k-Business Relationship Money Market Savings
0.03%$10k-Business Money Market Statement Savings

Sanford Institution for Savings Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.07%$250k-Business Now
0.05%$2,500-Ultimate ECO Checking
0.02%$2,500-Ultimate Checking

Sanford Institution for Savings CD Rates

DetailsAPYMINMAXPRODUCT
2.27%$10k-10 Year Silver Link CD
1.76%$10k-7 Year Silver Link CD
1.71%$500-7 Year CD
1.26%$500-5 Year CD
1.01%$500-4 Year CD
0.90%$500-3 Year Bump Up CD
0.80%$500-3.5 Year CD
0.55%$500-2.5 Year CD
0.55%$10k-2 Year Silver Link CD
0.50%$500-2 Year CD
0.40%$500-1.5 Year CD
0.40%$10k-1 Year Silver Link CD
0.35%$500-1 Year Special CD
0.32%$500-1 Year CD
0.30%$500-9 Month CD
0.25%$10k-6 Month Silver Link CD
0.20%$500-6 Month CD
0.15%$500-91 Day CD
0.10%$1k-7 Day Special CD

Sanford Institution for Savings IRA Rates

DetailsAPYMINMAXPRODUCT
2.27%$10k-10 Year Silver Link IRA CD
1.76%$10k-7 Year Silver Link IRA CD
1.71%$500-7 Year IRA CD
1.26%$500-5 Year IRA CD
1.01%$500-4 Year IRA CD
0.90%$500-3 Year Bump Up IRA CD
0.80%$500-3.5 Year IRA CD
0.55%$10k-2 Year Silver Link IRA CD
0.55%$500-2.5 Year IRA CD
0.50%$500-2 Year IRA CD
0.40%$10k-1 Year Silver Link IRA CD
0.40%$500-1.5 Year IRA CD
0.35%$500-1 Year Special IRA CD
0.32%$500-1 Year IRA CD
0.30%$500-9 Month IRA CD
0.25%$10k-6 Month Silver Link IRA CD
0.20%$500-6 Month IRA CD
0.15%$500-91 Day IRA CD
Locations


Sanford Institution for Savings Locations
Wells Branch1149 Post RoadWells, ME 4090
Sanford Branch1449 Main StreetSanford, ME 4073
Buxton Branch254 Long Plains RoadBuxton, ME 4093
Limerick Branch31 Main StreetLimerick, ME 4048
York Branch408 U.S. Route 1York, ME 3909
Springvale Branch484 Main StreetSpringvale, ME 4083
Portsmouth Nh Branch501 Islington StreetPortsmouth, NH 3801
Sanford Institution For Savings900 Main StreetSanford, ME 4073
Waterboro BranchWaterboro CrossingEast Waterboro, ME 4030