Somerset Savings Bank

Popular Accounts at this Bank

APY	ACCOUNT TYPE	ACCOUNT NAME
2.00%	5-year CD	60 Month CD 3.00% - American Express National Bank 60 Month CD
0.10%	1-year CD	10 Month CD 2.45% - Synchrony Bank 12 Month CD
0.05%	Savings	Statement Savings 1.80% - American Express National Bank High Yield Savings Account

View all Somerset Savings Bank rates »

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 39^th largest bank in the state of New Jersey. It is also the 1,259^th largest bank in the nation. It was established in 1887 and as of June of 2018, it had grown to 69 employees at 7 locations. Somerset Savings Bank's CD rates are 17% higher than the national average, and it has an A health rating.

Reviews (1)

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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.

Comment

5

Health

A

Data as of Q2 2018

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Health Grade Components

Overall
FDIC Certificate #	28778
Year Established	1887
Employees	69
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.59%
Return on Equity - YTD	2.99%
Annual Interest Income	$7.6MM

Assets and Liabilities
Assets	Q2 2018vs Q2 2017	$571.0MM$571.4MM
Loans	Q2 2018vs Q2 2017	$307.8MM$267.8MM
Deposits	Q2 2018vs Q2 2017	$455.8MM$455.6MM
Equity Capital	Q2 2018vs Q2 2017	$111.3MM$111.3MM
Loan Loss Allowance	Q2 2018vs Q2 2017	$750.00K$760.00K
Unbacked Noncurrent Loans	Q2 2018vs Q2 2017	$266.00K$566.00K
Real Estate Owned	Q2 2018vs Q2 2017	$0$0

Rates

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Money Market
Checking
CD
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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

APY	MIN	MAX	ACCOUNT NAME
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

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.10%	$250	-	Provider Money Market Account

Somerset Savings Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.05%	$500	-	NOW Checking with Interest
0.05%	$500	-	Free 50+ Checking with Interest

Somerset Savings Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
2.50%	$500	-	24 Month CD
2.00%	$500	-	60 Month CD
1.05%	$500	-	12 Month CD
0.60%	$500	-	48 Month CD
0.50%	$500	-	42 Month CD
0.40%	$500	-	30 Month CD
0.40%	$500	-	36 Month CD
0.20%	$500	-	18 Month CD
0.15%	$500	-	13 Month CD
0.15%	$500	-	15 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

APY	MIN	MAX	ACCOUNT NAME
2.50%	$500	-	24 Month IRA
2.47%	$500	-	18 Month Variable IRA
2.00%	$500	-	60 Month IRA
1.05%	$500	-	12 Month IRA
0.60%	$500	-	48 Month IRA
0.50%	$500	-	42 Month IRA
0.40%	$500	-	30 Month IRA
0.40%	$500	-	36 Month IRA
0.20%	$500	-	18 Month IRA
0.15%	$500	-	13 Month IRA
0.15%	$500	-	15 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
Middlesex	1305 Bound Brook Road	Middlesex, NJ 08846
Flemington	141 Broad Street	Flemington, NJ 08822
Somerset Savings Bank, SLA	220 West Union Avenue	Bound Brook, NJ 08805
Manville Branch	41 South Main Street	Manville, NJ 08835
Whitehouse Branch	410 Us 22	Whitehouse Station, NJ 08889
Somerville	64 West End Avenue	Somerville, NJ 08876
Raritan	802 Somerset Street	Raritan, NJ 08869

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