2. Somerset Savings Bank

Somerset Savings Bank


Overview / Commentary
www.somersetsavings.com
732-560-1700
220 West Union Avenue
Bound Brook, NJ 08805

Somerset Savings Bank is headquartered in Bound Brook and is the 37th largest bank in the state of New Jersey. It is also the 1,260th largest bank in the nation. It was established in 1887 and as of June of 2019, it had grown to 69 employees at 7 locations. Somerset Savings Bank's CD rates are 11% higher than the national average, and it boasts an A+ health rating.

Reviews (1)

Bank Experience

Posted by: Adk | Jul 11, 2016

Very bad experience. Teller in 1st cubicle in Middlesex branch is very rude, very loud, talkative that everyone hears. She harassed me 3 times with her nasty, unprofessional remarks to me and management just watching not intervening to just calm her down. I will close my account because of her.

9


Health
A+

Data as of Q2 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #28778
Year Established1887
Employees69
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.61%
Return on Equity - YTD3.06%
Annual Interest Income$8.5MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$583.5MM$571.0MM
LoansQ2 2019vs Q2 2018$334.4MM$307.8MM
DepositsQ2 2019vs Q2 2018$462.6MM$455.8MM
Equity CapitalQ2 2019vs Q2 2018$117.3MM$111.3MM
Loan Loss AllowanceQ2 2019vs Q2 2018$916.00K$750.00K
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$0$266.00K
Real Estate OwnedQ2 2019vs Q2 2018$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Somerset Savings Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$10k*-Tiered Savings
OTHER TIERS: 0.05% → Up to $10k
0.05%$50-Passbook Savings
0.05%$50-Statement Savings

Somerset Savings Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$250-Provider Money Market Account

Somerset Savings Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$500-NOW Checking with Interest
0.05%$500-Free 50+ Checking with Interest

Somerset Savings Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.75%$500-60 Month CD
1.50%$500-36 Month CD
1.25%$500-24 Month CD
1.05%$500-15 Month CD
1.00%$500-12 Month CD
0.60%$500-48 Month CD
0.50%$500-42 Month CD
0.40%$500-30 Month CD
0.20%$500-18 Month CD
0.15%$500-13 Month CD
0.10%$500-6 Month CD
0.10%$500-9 Month CD
0.10%$500-10 Month CD

Somerset Savings Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.75%$500-60 Month IRA
1.60%$500-18 Month Variable IRA
1.50%$500-36 Month IRA
1.25%$500-24 Month IRA
1.05%$500-15 Month IRA
1.00%$500-12 Month IRA
0.60%$500-48 Month IRA
0.50%$500-42 Month IRA
0.40%$500-30 Month IRA
0.20%$500-18 Month IRA
0.15%$500-13 Month IRA
0.10%$500-6 Month IRA
0.10%$500-9 Month IRA
0.10%$500-10 Month IRA
Locations


Somerset Savings Bank Locations
Middlesex1305 Bound Brook RoadMiddlesex, NJ 08846
Flemington141 Broad StreetFlemington, NJ 08822
Somerset Savings Bank, SLA220 West Union AvenueBound Brook, NJ 08805
Manville Branch41 South Main StreetManville, NJ 08835
Whitehouse Branch410 Us 22Whitehouse Station, NJ 08889
Somerville64 West End AvenueSomerville, NJ 08876
Raritan802 Somerset StreetRaritan, NJ 08869

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