Savings Institute Bank & Trust
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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.
Data as of Q2 2019
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 23621 |
| Year Established | 1846 |
| Employees | 1976 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.81% |
| Return on Equity - YTD | 6.3% |
| Annual Interest Income | $250.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $13.63B$11.88B |
| Loans | Q2 2019vs Q2 2018 | $10.25B$8.80B |
| Deposits | Q2 2019vs Q2 2018 | $10.64B$8.91B |
| Equity Capital | Q2 2019vs Q2 2018 | $1.77B$1.47B |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $62.2MM$55.9MM |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $61.0MM$55.2MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $154.00K$1.1MM |
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