Gorham Savings Bank

Overview / Commentary

www.gorhamsavings.bank

207-839-4450

64 Main Street
Gorham, ME 04038

Gorham Savings Bank is headquartered in Gorham and is the 9^th largest bank in the state of Maine. It is also the 683^rd largest bank in the nation. It was established in 1868 and as of June of 2022, it had grown to 197 employees at 13 locations. Gorham Savings Bank's money market rates are 70% higher than the national average, and it has a B+ health rating.

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Health

B+

Data as of Q2 2022

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Health Grade Components

Overall
FDIC Certificate #	17748
Year Established	1868
Employees	197
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.21%
Return on Equity - YTD	2.56%
Annual Interest Income	$24.4MM

Assets and Liabilities
Assets	Q2 2022vs Q2 2021	$1.56B$1.47B
Loans	Q2 2022vs Q2 2021	$1.16B$1.09B
Deposits	Q2 2022vs Q2 2021	$1.38B$1.30B
Equity Capital	Q2 2022vs Q2 2021	$113.0MM$134.7MM
Loan Loss Allowance	Q2 2022vs Q2 2021	$9.7MM$10.3MM
Unbacked Noncurrent Loans	Q2 2022vs Q2 2021	$7.6MM$10.4MM
Real Estate Owned	Q2 2022vs Q2 2021	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Gorham Savings Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.25%^*	$75k^*	-	Grow&Go Savings
OTHER TIERS: 0.05% → $25 - $10k \| 0.10% → $10k - $25k \| 0.15% → $25k - $50k \| 0.20% → $50k - $75k
0.10%	$25	-	Statement Savings
0.01%	$25	-	Health Savings Account (HSA Checking)

Gorham Savings Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
1.25%^*	$1m^*	-	Premier Business Money Market
OTHER TIERS: 0.01% → $25 - $10k \| 0.10% → $10k - $50k \| 0.25% → $50k - $100k \| 0.50% → $100k - $250k \| 0.75% → $250k - $500k \| 1.00% → $500k - $1m
0.75%^*	$100k^*	-	Champion Money Market Checking
OTHER TIERS: 0.05% → $25 - $10k \| 0.15% → $10k - $25k \| 0.25% → $25k - $50k \| 0.50% → $50k - $100k
0.50%^*	$250k^*	-	Tiered Business Money Market
OTHER TIERS: 0.01% → $25 - $5k \| 0.05% → $5k - $10k \| 0.10% → $10k - $25k \| 0.15% → $25k - $50k \| 0.30% → $50k - $100k \| 0.40% → $100k - $250k
0.15%^*	$50k^*	-	Money Market Checking
OTHER TIERS: 0.01% → $25 - $5k \| 0.05% → $5k - $10k \| 0.10% → $10k - $50k

Gorham Savings Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
1.25%^*	$5m^*	$5m	Champion Checking
OTHER TIERS: 0.15% → $25 - $10k \| 0.35% → $10k - $50k \| 0.50% → $50k - $100k \| 0.75% → $100k+ \| 1.00% → $250k - $5m
1.00%	$25	-	IOLTA Checking
1.00%	$25	-	RAHF Checking
0.20%^*	$1m^*	-	Business Rate Checking
OTHER TIERS: 0.05% → $25 - $250k \| 0.10% → $250k - $500k \| 0.15% → $500k - $1m
0.05%^*	$10k^*	-	Make Cents Checking
OTHER TIERS: 0.02% → $25 - $10k
0.05%^*	$10k^*	-	Make Change Checking
OTHER TIERS: 0.02% → $25 - $10k

Gorham Savings Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
2.00%	$500	-	13 Month CD Special
1.75%	$500	-	60 Month CD
0.95%	$500	-	48 Month CD
0.85%	$500	-	36 Month CD
0.75%	$500	-	24 Month CD
0.65%	$500	-	12 Month CD
0.65%	$500	-	18 Month CD
0.50%	$500	-	6 Month CD
0.15%	$500	-	91 Day CD
0.15%^*	$75k^*	-	18 Month Hassle Free-Tiered CD
OTHER TIERS: 0.05% → $500 - $25k \| 0.10% → $25k - $75k

Gorham Savings Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
2.00%	$500	-	13 Month IRA Special
1.75%	$500	-	60 Month IRA
0.95%	$500	-	48 Month IRA
0.85%	$500	-	36 Month IRA
0.75%	$500	-	24 Month IRA
0.65%	$500	-	12 Month IRA
0.65%	$500	-	18 Month IRA
0.50%	$500	-	6 Month IRA

Locations

Availability

Portland Area

Portland Area bank & credit union details

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