Somerset Savings Bank

Overview / Commentary
220 West Union Avenue
Bound Brook, NJ 08805

Somerset Savings Bank is headquartered in BOUND BROOK and is the 33rd largest bank in the state of New Jersey. It is also the 1,374th largest bank in the nation. It was established in 1887 and as of March of 2023, it had grown to 65 employees at 7 locations. Somerset Savings Bank has an A health rating.

Reviews (1)

Bank Experience

Posted by: |

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.


Health Grade Components

FDIC Certificate #28778
Year Established1887
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.16%
Return on Equity - YTD0.87%
Annual Interest Income$4.1MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$664.9MM$649.0MM
LoansQ1 2023vs Q1 2022$357.3MM$317.0MM
DepositsQ1 2023vs Q1 2022$521.5MM$525.0MM
Equity CapitalQ1 2023vs Q1 2022$119.1MM$120.2MM
Loan Loss AllowanceQ1 2023vs Q1 2022$1.1MM$1.1MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$147.00K$0
Real Estate OwnedQ1 2023vs Q1 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not Somerset Savings Bank; we are a rate comparison website and cannot provide official rates or promotions.

* 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

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

0.10%$250-Provider Money Market Account

Somerset Savings Bank Checking Account Rates

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

Somerset Savings Bank CD Rates

2.50%$500-10 Month CD
0.55%$500-60 Month CD
0.40%$500-48 Month CD
0.35%$500-36 Month CD
0.35%$500-42 Month CD
0.25%$500-24 Month CD
0.25%$500-30 Month CD
0.20%$500-12 Month CD
0.20%$500-15 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

Somerset Savings Bank IRA Rates

5.59%$100-18 Month Variable IRA
2.50%$500-10 Month IRA
0.55%$500-60 Month IRA
0.40%$500-48 Month IRA
0.35%$500-36 Month IRA
0.35%$500-42 Month IRA
0.25%$500-24 Month IRA
0.25%$500-30 Month IRA
0.20%$500-12 Month IRA
0.20%$500-15 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

Somerset Savings Bank Locations
Middlesex1305 Bound Brook RoadMiddlesex, NJ 08846
Flemington141 Broad StreetFlemington, NJ 08822
Somerset Savings Bank, SLA220 W Union AveBound 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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