Overview / Commentary
860-449-6702
803 Main Street
Willimantic, CT 06226

Savings Institute Bank & Trust is headquartered in Willimantic and is the 9th largest bank in the state of Connecticut. It is also the 516th largest bank in the nation. It was established in 1842 and as of June of 2018, it had grown to 277 employees at 23 locations. Savings Institute Bank & Trust has an A health rating.

Related Posts

Savings Institute B&T Adds No-Penalty 17Mo Access CD - 9/3/2018

Savings Institute Bank & Trust (CT/RI) has added a 17-month Access CD (2.75% APY) that allows one penalty-free withdrawal during the term. $500 min/$1m deposit new money.

2.70% APY 27-Month CD Special (w/Checking) In CT & RI - 5/5/2018

27 Month Special 2.70% APY With Active Savings Institute Checking Account 2.45% APY Without Active Savings Institute Checking Account They also have a 2.00% / 1.75% APY 14-Month CD. $500.00 Minimum Deposit to Open Account Maximum deposit for 14 and 27 Month CD is $1,000,000. Rates Effective 5/1/2018 https://www.savingsinstitute.bank/resources/resources/rates#cds

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Reviews (1)

Savings Institute Bank: A Great Start

This was the first bank I ever used due to the fact that it was only a block down from where I live. I remember going with my dad to set up the account, but everyone was quite helpful. I just got a basic savings account for a kid with a summer job so I can't go into too much detail about their plans and whatnot. My account had the average interest for a savings account, something like 1% a month. I think there are some locations around CT and in Rhode Island, but according to the website, they aren't a national chain. They also had a coin changer there that was very useful and open to anybody who has an account with them. It's much better than Coinstar or something for large amounts because they don't charge you any fee to use the machine. I don't think they had online banking at the time, but I didn't have a smartphone anyway when I opened the account.



Health

Health Grade Components

Overall
FDIC Certificate #18214
Year Established1842
Employees277
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.64%
Return on Equity - YTD6.29%
Annual Interest Income$27.8MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$1.58B$1.59B
LoansQ2 2018vs Q2 2017$1.26B$1.23B
DepositsQ2 2018vs Q2 2017$1.23B$1.21B
Equity CapitalQ2 2018vs Q2 2017$161.5MM$160.7MM
Loan Loss AllowanceQ2 2018vs Q2 2017$13.2MM$12.1MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$7.7MM$4.7MM
Real Estate OwnedQ2 2018vs Q2 2017$625.00K$1.0MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Savings Institute Bank & Trust; we are a rate comparison website and cannot provide official rates or promotions.

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

Savings Institute Bank & Trust Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.02%--Variable Rate IRA
0.05%$5-Statement Savings

Savings Institute Bank & Trust Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$1m*$10mMoney Market Special
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k+ | 0.15% $25k - $50k | 0.20% $50k - $1m

Savings Institute Bank & Trust Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$500-Choice Alliance Checking

Savings Institute Bank & Trust CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$500-27 Month CD Special w/ Active Savings Institute Checking Account
2.75%$500-27 Month CD Special w/o Active Savings Institute Checking Account
2.75%$500$1m17 Month Access CD w/ Active Savings Institute Checking Account - New Money
1.21%$500-6 Year CD
1.15%$500-5 Year CD
1.10%$500-4 Year CD
0.75%$500-3 Year CD
0.45%$500-2 Year CD
0.30%$500-18 Month CD
0.25%$500-1 Year CD
0.20%$500-6 Month CD
0.15%$500-3 Month CD

Savings Institute Bank & Trust IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$500-27 Month IRA Special w/ Active Savings Institute Checking Account
2.75%$500-27 Month IRA Special w/o Active Savings Institute Checking Account
1.21%$500-6 Year IRA
1.15%$500-5 Year IRA
1.10%$500-4 Year IRA
0.75%$500-3 Year IRA
0.45%$500-2 Year IRA
0.30%$500-18 Month IRA
0.25%$500-1 Year IRA
0.20%$500-6 Month IRA
0.15%$500-3 Month IRA
Locations

Availability



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