Solvay Bank is headquartered in SOLVAY and is the 51st largest bank in the state of New York. It is also the 907th largest bank in the nation. It was established in 1917 and as of December of 2023, it had grown to 153 employees at 9 locations. Solvay Bank's CD rates are 5X the national average, and it has a B+ health rating.
Rates Are Competitive But...........
Their rates are competitive locally, but we have had several instances where we were treated poorly by their tellers. There's an arrogance and unfriendliness by the tellers that we have not encountered at other banks. They seem more interested in "zinging" you than in being helpful. A recent example: a simple transaction where we wanted to exchange $600 in small bills (mostly 20s) into larger bills was met with such antagonism that we gave up on the transaction.
Their ATMs located at their branches and main office are frequently not in service or out of paper.
We currently have multiple accounts with the bank, yet we are rarely treated in a helpful manner.
Absolutely Abysmal
Everyone else seems to be functioning fairly well in the 21st century...except Solvay Bank! I have been trying to get an international wire transfer from Solvay Bank since the 26th of March and it is now the 16th of April with no sign of the money! Snooty responses to simple questions, discrepencies in how and when the money left the bank, multiple tries to get a successful transfer, and still...nothing. I'm afraid I will have to move my money to a more competent bank, because this one is absolutely abysmal!
Poor Service
They discriminate against people to get over draft credit for there checking accounts . I have tried several times to get it and they have refused me because they say I don’t make enough . Which I do . Then there online app is down all the time . It’s ridiculous. You can’t even check your account . They fix it but it doesn’t do any good because it keeps happening. And the people act like they don’t even want to help you. Very disappointed.
Like Others Great Rates Poor Service
Systems are old and antiquated frequently they are down for service and it seems like their employees are unhappy and don’t care about having business
Time To Go!
Not a fan of this bank. Difficult to deal with.
This is "old banking" at its worst.
They will continue to lose market share in my opinion.
Great Rates, Aweful Service
Great bank overall but if you have good credit but with a marginal past, good luck getting a loan. I recently applied for a loan and was turned down cause of stuff that was on my report. The stuff on the report was taken care of years ago and was given letters of satisfaction. This stuff was brought back into question and was denied a loan. I would not encourage anyone to bank through them if you are triing to rebuild your credit, they will not give you a chance.
Great Rates...Awful Service.
Yes they have some of the best rates available for accounts and mortgages, but their service is awful. The mortgage department is especially poor. Questions brushed off, no return phone calls, gives the impression that they don't want to be bothered like they are doing you a favor. Unbelievable!
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 13297 |
| Year Established | 1917 |
| Employees | 153 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.57% |
| Return on Equity - YTD | 8.98% |
| Annual Interest Income | $37.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $1.14B$1.12B |
| Loans | Q4 2023vs Q4 2022 | $690.5MM$664.4MM |
| Deposits | Q4 2023vs Q4 2022 | $968.3MM$992.6MM |
| Equity Capital | Q4 2023vs Q4 2022 | $77MM$69.1MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $8MM$7.6MM |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $467K$811K |
| Real Estate Owned | Q4 2023vs Q4 2022 | $0$0 |