Spencer Savings Bank

Overview / Commentary
680 River Drive
Elmwood Park, NJ 07407

Spencer Savings Bank is headquartered in Elmwood Park and is the 11th largest bank in the state of New Jersey. It is also the 316th largest bank in the nation. It was established in 1939 and as of June of 2019, it had grown to 237 employees at 25 locations. Spencer Savings Bank has an A health rating.

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Reviews (2)

The Worst Bank

Posted by: XXX123 | Nov 8, 2016

There is no way they can do anything for you. Always the answer is "NO" and always you need to bring more documents and make another trip to the bank as nothing is ever possible to do online or over the phone.
And every person working there gives you different information on what you need to do.
They are in business of wasting your time.

I would give -5 starts if possible.

Threatened To Take Our Money.

Posted by: Anonymous | Dec 24, 2010

Beware, as an account holder I was asked for ID and why I needed the balance on our account? I politely said the other party is deceased. Then I was told that due to the death of other named party they will seize and hold half of the account. I inquired about a CD that was there in both names and was told that they can charge a fee to close it out, and then I was told no fee will be charged. Make up your mind !!! If I get any more trouble I will retain an attorney and sue them for this. It will only add to there legal woes they have already.


Health Grade Components

FDIC Certificate #30076
Year Established1939
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.54%
Return on Equity - YTD4.88%
Annual Interest Income$56.1MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$3.04B$2.83B
LoansQ2 2019vs Q2 2018$2.33B$2.09B
DepositsQ2 2019vs Q2 2018$2.11B$2.03B
Equity CapitalQ2 2019vs Q2 2018$336.8MM$311.2MM
Loan Loss AllowanceQ2 2019vs Q2 2018$19.1MM$14.5MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$7.9MM$16.5MM
Real Estate OwnedQ2 2019vs Q2 2018$0$987.00K

Rates for Spencer Savings Bank are currently being reviewed.



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