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.
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.
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.
|FDIC Certificate #||30076|
|Return on Assets - YTD||0.54%|
|Return on Equity - YTD||4.88%|
|Annual Interest Income||$56.1MM|
|Assets and Liabilities|
|Assets||Q2 2019vs Q2 2018||$3.04B$2.83B|
|Loans||Q2 2019vs Q2 2018||$2.33B$2.09B|
|Deposits||Q2 2019vs Q2 2018||$2.11B$2.03B|
|Equity Capital||Q2 2019vs Q2 2018||$336.8MM$311.2MM|
|Loan Loss Allowance||Q2 2019vs Q2 2018||$19.1MM$14.5MM|
|Unbacked Noncurrent Loans||Q2 2019vs Q2 2018||$7.9MM$16.5MM|
|Real Estate Owned||Q2 2019vs Q2 2018||$0$987.00K|
Rates for Spencer Savings Bank are currently being reviewed.