Somerset Savings Bank

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

Somerset Savings Bank is headquartered in Bound Brook and is the 34th largest bank in the state of New Jersey. It is also the 1,399th largest bank in the nation. It was established in 1887 and as of December of 2021, it had grown to 64 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 - YTD0.26%
Return on Equity - YTD1.35%
Annual Interest Income$13.1MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$649.8MM$621.2MM
LoansQ4 2021vs Q4 2020$304.9MM$305.0MM
DepositsQ4 2021vs Q4 2020$524.0MM$495.9MM
Equity CapitalQ4 2021vs Q4 2020$122.2MM$121.2MM
Loan Loss AllowanceQ4 2021vs Q4 2020$1.1MM$1.1MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$0$447.00K
Real Estate OwnedQ4 2021vs Q4 2020$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

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
0.10%$500-10 Month CD

Somerset Savings Bank IRA Rates

2.08%$100-18 Month Variable 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
0.10%$500-10 Month IRA

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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