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

Savings Institute Bank & Trust is headquartered in Willimantic and is the 8th largest bank in the state of Connecticut. It is also the 497th largest bank in the nation. It was established in 1842 and as of June of 2017, it had grown to 272 employees at 24 locations. Savings Institute Bank & Trust has an A health rating.

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14 Month CD Special In CT & RI - 4/14/2017

Savings Institute Bank & Trust CD Special 1.40% APY 14 month CD with Choice Alliance or Cash Back Checking 1.15% APY 14 month CD without these checking accounts $500 minimum deposit, $1,000,000 maximum deposit https://www.savingsinstitute.com/personal/banking/savings/certificates-of-deposit

16 And 33 Months Cds 1.5 And 2 % - 1/26/2017

Limited time CDs with checking 16 months 1.5% and 33 months 2%. Without checking, !.25 and 1.75.

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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
Employees272
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.59%
Return on Equity - YTD5.91%
Annual Interest Income$26.6MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$1.59B$1.51B
LoansQ2 2017vs Q2 2016$1.23B$1.16B
DepositsQ2 2017vs Q2 2016$1.21B$1.12B
Equity CapitalQ2 2017vs Q2 2016$160.7MM$154.2MM
Loan Loss AllowanceQ2 2017vs Q2 2016$12.1MM$10.6MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$4.7MM$6.7MM
Real Estate OwnedQ2 2017vs Q2 2016$1.0MM$1.2MM
Rates
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* 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
0.53%--Variable Rate IRA
0.05%--Statement Savings

Savings Institute Bank & Trust Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$100k*-Money Market w/ Choice Alliance
OTHER TIERS: 0.05% Up to $10k | 0.15% $10k - $100k
0.25%*$1m*$10mMoney Market Special
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k+ | 0.15% $25k - $50k | 0.20% $50k - $1mm

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
1.65%$500$500k17 Month CD Special with Choice Alliance or Cash Back Checking
1.40%$500$500k17 Month CD Special without Choice Alliance or Cash Back Checking
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
Locations

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