Somerset Savings Bank, SLA

220 West Union Avenue
Bound Brook, NJ 8805
732-560-1700
www.somersetsavings.com

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Somerset Savings Bank, SLA is headquartered in Bound Brook and is the 40^th largest bank in the state of New Jersey. It is also the 1,140^th largest bank in the nation. It was established in 1887 and as of March of 2012, it had grown to 83 employees at 7 locations. Somerset Savings Bank, SLA has a 5-star health rating.

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

Somerset Savings Bank, SLA Checking Account Rates

Apy	Min	Max	Product
0.10%	$50	-	NOW Checking with Interest Account
0.10%	$50	-	Free 50+ Checking with Interest Account

Somerset Savings Bank, SLA Savings Account Rates

Apy	Min	Max	Product
0.25%	$10k	-	Tiered Savings Account
0.15%	-	-	Passbook Savings
0.15%	-	-	Statement Savings

Somerset Savings Bank, SLA Money Market Rates

	Apy	Min	Max	Product
	0.15%	$2,500	-	Provider Money Market Account

Somerset Savings Bank, SLA CD Rates

Apy	Min	Max	Product
1.10%	$500	-	60 Month CD
0.70%	$500	-	48 Month CD
0.60%	$500	-	42 Month CD
0.50%	$500	-	30 Month CD
0.50%	$500	-	36 Month CD
0.40%	$500	-	24 Month CD
0.35%	$500	-	18 Month CD
0.30%	$500	-	10 Month CD
0.30%	$500	-	12 Month CD
0.30%	$500	-	13 Month CD
0.30%	$500	-	15 Month CD
0.25%	$500	-	6 Month CD
0.25%	$500	-	9 Month CD

Somerset Savings Bank, SLA IRA Rates

Apy	Min	Max	Product
1.10%	$500	-	60 Month IRA
0.70%	$500	-	48 Month IRA
0.60%	$500	-	42 Month IRA
0.50%	$500	-	30 Month IRA
0.50%	$500	-	36 Month IRA
0.40%	$500	-	24 Month IRA
0.35%	$500	-	18 Month IRA
0.30%	$500	-	10 Month IRA
0.30%	$500	-	12 Month IRA
0.30%	$500	-	13 Month IRA
0.30%	$500	-	15 Month IRA
0.25%	$500	-	6 Month IRA
0.25%	$500	-	9 Month IRA

Rates updated: 5/27/2012

Data for Q1 2012

Institution Statistics

Somerset Savings Bank, SLA
OTS #	02343
FDIC Certificate #	28778
BankRate Report	View
Year Established	1887
Employees	83
Primary Regulator	FDIC
Assets and Liabilities
Assets	$591.20 million
Loans	$248.49 million
Deposits	$487.85 million
Equity Capital	$101.08 million
Loan Loss Allowance	$1.30 million
Unbacked Noncurrent Loans	$1.68 million
Historic Data - March 2011
Assets	$589.12 million
Equity Capital	$98.08 million
Loan Loss Allowance	$1.41 million
Unbacked Noncurrent Loans	$1.34 million
Profit Margin - Quarterly
Net Interest Margin	2.51%
Return on Assets	0.47%
Return on Equity	2.77%
Interest Income	$4.52 million

Institution Health

Overall Score:

5 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 March 31, 2012 Somerset Savings Bank, SLA had $1.68 million in non-current loans and owned real-estate with $102.38 million in equity and loan loss allowances on hand to cover it. This gives Somerset Savings Bank, SLA a Texas Ratio of 1.64% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Somerset Savings Bank, SLA held steady from 1.34% as of March 31, 2011 to 1.64% as of March 31, 2012, resulting in a negative change of 21.96%. This indicates that the balance sheet and financial strength for Somerset Savings Bank, SLA has held steady in recent periods.
Deposit Growth
In the past year, Somerset Savings Bank, SLA has decreased its total deposits by -$1.15 million, resulting in -0.24% 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 Somerset Savings Bank, SLA has shown is 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. Somerset Savings Bank, SLA has $591.2 million in assets with $102.38 million in equity, resulting in a capitalization level of 17.32%, which is excellent.

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