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176 Main Street
Spencer, MA 01562

Spencer Savings Bank (MA) is headquartered in Spencer and is the 77th largest bank in the state of Massachusetts. It is also the 1,596th largest bank in the nation. It was established in 1871 and as of March of 2014, it had grown to 88 employees at 6 locations. Spencer Savings Bank (MA)'s money market rates are 59% higher than the national average, and it boasts a A+ health rating.

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Data for Q1 2014

Institution Health


Texas Ratio


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 Spencer Savings Bank (MA) had $1.05 million in non-current loans and owned real-estate with $56.56 million in equity and loan loss allowances on hand to cover it. This gives Spencer Savings Bank (MA) a Texas Ratio of 1.85% 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 Spencer Savings Bank (MA) decreased dramatically from 8.25% as of March 31, 2013 to 1.85% as of March 31, 2014, resulting in a positive change of 77.55%.This indicates that the balance sheet and financial strength for Spencer Savings Bank (MA) has improved dramatically in recent periods.

Deposit Growth


In the past year, Spencer Savings Bank (MA) has increased its total deposits by $24.39 million, resulting in 8.11% 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 Spencer Savings Bank (MA) has shown is excellent.



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. Spencer Savings Bank (MA) has $422.09 million in assets with $56.56 million in equity, resulting in a capitalization level of 13.40%, which is excellent.

Institution Statistics

FDIC Certificate #90282
Year Established1871
Primary RegulatorFDIC
Assets and Liabilities
Assets$422.09 million
Loans$336.58 million
Deposits$325.21 million
Equity Capital$53.67 million
Loan Loss Allowance$2.89 million
Unbacked Noncurrent Loans$522,000
Real Estate Owned$525,000
Historic Data - March 2013
Assets$382.46 million
Equity Capital$50.84 million
Loan Loss Allowance$3.07 million
Unbacked Noncurrent Loans$522,000
Real Estate Owned$435,000
Profit Margin - Quarterly
Net Interest Margin3.45%
Return on Assets0.46%
Return on Equity3.57%
Interest Income$3.86 million

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Spencer Savings Bank (MA) Savings Account Rates

0.70%$500k-Hi-Yield MoneyPak
0.25%$1k-MoneyPak Account
0.15%--Basic Savings
0.15%--Statement Savings
0.15%--Holiday Club Savings Account

Spencer Savings Bank (MA) Money Market Rates

0.70%$500k-MaxAdvantage Money Market

Spencer Savings Bank (MA) Checking Account Rates

0.10%--Classic Checking
0.10%$500-Relationship Checking
0.10%--Relationship Plus Checking

Spencer Savings Bank (MA) CD Rates

1.00%$500-3 Year CD
0.85%$500-2 Year CD
0.70%$500-18 Month CD
0.60%$500-1 Year CD
0.60%$500-13 Month CD Special
0.50%$500-9 Month CD Special
0.35%$500-6 Month CD
0.25%$5k-91 Day CD

Spencer Savings Bank (MA) IRA Rates

1.00%$500-3 Year IRA
0.70%$500-18 Month IRA
0.60%$500-1 Year IRA

Spencer Savings Bank (MA) Locations
Leiceister Branch121 South Main StreetLeicester, MA 1524
Spencer Savings Bank176 Main StreetSpencer, MA 1562
278 Park Ave. Branch278 Park Ave.Worcester, MA 1609
Rutland Branch93 Main St.Rutland, MA 1543
Warren Branch968 Main St.Warren, MA 1083
Fair Plaza BranchFair Shopping Center, Route 9Spencer, MA 1562