Savings Bank of Danbury is headquartered in DANBURY and is the 11th largest bank in the state of Connecticut. It is also the 690th largest bank in the nation. It was established in 1849 and as of December of 2024, it had grown to 190 employees at 16 locations. Savings Bank of Danbury has an A health rating.
Worst Bank To Deal With.....
Savings Bank of Danbury/Ives Bank has held my mortgage for 18 years now and has proved to be the most difficult and inflexible institution to work with when it has come to issues relating to on-line payments. I have attempted to make on-line payments for my mortgage only to be told that my primary bank has has to convert my payment to an actual physical check since that is the only way Savings Bank of Danbury will receive an E-payment. This results in the payment being delayed and ultimately considered "late" by Savings Bank of Danbury and their unwillingness to reverse the late fees which are only brought on by their archaic technology. Their customer service is dismissive to any explanation or request for understanding. If I could refinance out of this Bank, I would at the drop of a hat.
Would Not Recommend.
The initial transfer of their services to "digital" was a nightmare. I went literal weeks with no account access when that happened. Now? I've moved out of state, to GA and am trying to buy a house but have been told I am not eligible to perform a wire transfer unless I come into the branch to process it. This is super time sensitive and I am not driving 16 hours to resolve this. You really have NO WAY to verify me by email, phone or video chat? I have every identifying document you could ever need to ID me. How does seeing me in person make that different? The IRS can verify me on a video chat and you can't? It's 2022, your policies are outdated and clearly do not benefit your members. I have been told I would be eligible to transfer my funds out were I to close my account and open another one in my name. I do have another account in my name, actually.. I found out (with zero direction from any of your reps) that I AM able to link my account and request the ability to then transfer funds between them. Could no one have informed me? You made me want to outright close my account. Shame on the lot of you for not knowing the options available to you and not being willing to look for a solution.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 15912 |
| Year Established | 1849 |
| Employees | 190 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.91% |
| Return on Equity - YTD | 7.34% |
| Annual Interest Income | $81.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $1.65B$1.56B |
| Loans | Q4 2024vs Q4 2023 | $1.35B$1.29B |
| Deposits | Q4 2024vs Q4 2023 | $1.27B$1.16B |
| Equity Capital | Q4 2024vs Q4 2023 | $204.9MM$191.5MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $17MM$19.4MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $22.7MM$20MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |
