Savoy Bank

Savoy Bank Locations
1675 Broadway
New York, NY 10019
(646) 775-4000
www.banksavoy.com

Savoy Bank is headquartered in New York and is the 159th largest bank in the state of New York. It is also the 5,477th largest bank in the nation. It was established in 2008 and as of March of 2012, it had grown to 13 employees at 1 location. Savoy Bank has a 3-star health rating.

Savoy Bank Routing Number: 026014407

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2.60% Reward Checking Account with $100K Balance Cap at Savoy Bank in NYC - Local Only - 12/11/2009

Savoy Bank is offering a reward checking account called Super NOW. It has the following rates and features if certain monthly requirements are met:2.60% APY on balances up to $100,000 guaranteed to 4/15/20101.30% APY on portion of balance above $100,000...

3.67% 12-Month / 3.56% 6-Month CD at a New York City Bank (Savoy) - 4/15/2008

Savoy Bank still has some attractive short term CDs. The rates have fallen since my March post, but they're still competitive. The 12-month CD yield is 3.67% APY, and the yield for the 6 and 9 month terms is 3.56% APY. The minimum deposit is $2,000.Savoy...

4.71% 12-Month CD at a New York City Bank (Savoy). - 3/12/2008

Update 3/18/08: The special CD rate has expired. Please check with the bank for the latest rates.Savoy Bank is offering a special 4.71% APY 12-month CD. The minimum deposit is $2,000. It doesn't seem to be listed at the bank's website. I called today...


Data for Q1 2012


Institution Statistics


Savoy Bank
FDIC Certificate #58641
BankRate ReportView
Year Established2008
Employees13
Primary RegulatorFDIC

Assets and Liabilities

Assets$79.97 million
Loans$52.30 million
Deposits$71.29 million
Equity Capital$7.78 million
Loan Loss Allowance$2.71 million
Unbacked Noncurrent Loans$7.60 million

Historic Data - March 2011

Assets$78.91 million
Equity Capital$9.04 million
Loan Loss Allowance$2.36 million
Unbacked Noncurrent Loans$3.34 million

Profit Margin - Quarterly

Net Interest Margin3.8%
Return on Assets-1.42%
Return on Equity-14.21%
Interest Income$879,000

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio2
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 March 31, 2012 Savoy Bank had $7.6 million in non-current loans and owned real-estate with $10.49 million in equity and loan loss allowances on hand to cover it. This gives Savoy Bank a Texas Ratio of 72.48% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend2
The Texas Ratio for Savoy Bank increased slightly from 29.34% as of March 31, 2011 to 72.48% as of March 31, 2012, resulting in a negative change of 147.01%. This indicates that the balance sheet and financial strength for Savoy Bank has declined slightly in recent periods.
Deposit Growth4
In the past year, Savoy Bank has increased its total deposits by $2.37 million, resulting in 3.44% 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 Savoy Bank has shown is above average.
Capitalization5
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. Savoy Bank has $79.97 million in assets with $10.49 million in equity, resulting in a capitalization level of 13.11%, which is excellent.
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