Salem Five Cents Savings Bank
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Salem Five Cents Savings Bank is an FDIC insured institution headquartered at
71 Washington St, Salem, MA 01970.
It was founded in
1855 and has approximately $8 billion in assets. Customers can open an account at one of its 35 branches.
Deposit Rates - December 08, 2025
| SAVINGS RATES | APY | MIN | |
|---|---|---|---|
|
SAV
|
0.01% | $10 | Compare |
| CD RATES | APY | MIN | |
|---|---|---|---|
|
6 Mo CD
|
4.25% | $2,500 | Compare |
|
9 Mo CD
|
4.15% | $10,000 | Compare |
|
12 Mo CD
|
4.50% | $500 | Compare |
|
12 Mo CD
|
4.50% | $10,000 | Compare |
|
18 Mo CD
|
4.25% | $500 | Compare |
|
18 Mo CD
|
4.25% | $10,000 | Compare |
|
24 Mo CD
|
4.25% | $500 | Compare |
|
24 Mo CD
|
4.25% | $10,000 | Compare |
|
30 Mo CD
|
0.35% | $500 | Compare |
|
30 Mo CD
|
2.00% | $10,000 | Compare |
|
36 Mo CD
|
0.35% | $500 | Compare |
|
36 Mo CD
|
2.00% | $10,000 | Compare |
|
48 Mo CD
|
0.50% | $500 | Compare |
|
48 Mo CD
|
2.25% | $10,000 | Compare |
|
60 Mo CD
|
0.50% | $500 | Compare |
|
60 Mo CD
|
2.25% | $10,000 | Compare |
| MM RATES | APY | MIN | |
|---|---|---|---|
|
Money Market
|
0.10% | $0 | Compare |
|
Money Market
|
0.10% | $10,000 | Compare |
|
Money Market
|
3.70% | $50,000 | Compare |
| FIXED IRA RATES | APY | MIN |
|---|---|---|
|
12 Mo FIRA
|
4.50% | $2,000 |
|
18 Mo FIRA
|
4.25% | $2,000 |
|
24 Mo FIRA
|
4.25% | $2,000 |
|
30 Mo FIRA
|
2.00% | $2,000 |
|
36 Mo FIRA
|
2.00% | $2,000 |
|
48 Mo FIRA
|
2.25% | $2,000 |
|
60 Mo FIRA
|
2.25% | $2,000 |
Loan Rates - December 08, 2025
| MORTGAGE PURCHASE | APR(%) | MONTHLY PAYMENT |
|---|---|---|
|
15 Year Fixed Conforming
|
5.42% | $2,600.42 |
|
30 Year Fixed Conforming
|
6.39% | $2,054.29 |
| MORTGAGE REFINANCE | APR(%) | MONTHLY PAYMENT |
|---|---|---|
|
15 Year Fixed Conforming
|
6.33% | $2,657.31 |
|
30 Year Fixed Conforming
|
6.39% | $2,054.29 |
Overview 2025
General Bank Information
| FDIC Insured | Yes |
| FDIC Certificate | # 23296 |
| Date Established | 1855 |
| Assets | $ 8.29 billion |
| Loans | $ 6.34 billion |
| Deposits | $ 5.75 billion |
| Capital | $ 915.62 million |
Summary Balance Sheet as of June 30, 2025
| ASSETS | |
| Cash & Balances due from depository institutions | $ 53.36 million |
| Interest-bearing balances | $ 9.98 million |
| Total securities | $ 1,547.40 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 6.34 billion |
| Loan loss allowance | $ 70.76 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 10.12 million |
| Goodwill and other intangibles | $ 69.93 million |
| All other assets | $ 172.43 million |
| Total Assets | $ 7.38 billion |
| LIABILITIES | |
| Total deposits | $ 5.75 billion |
| Interest-bearing deposits | $ 4.72 billion |
| Deposits held in domestic offices | $ 5.75 billion |
| % insured (estimated)" | 82.31% |
| Federal funds purchased and repurchase agreements | $ 83.61 million |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 602.77 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 99.92 millionn |
| Total Liabilities | $ 7.38 billion |
| Shareholders’ Equity | $ 915.62 million |
Summary Income Statement as of June 30, 2025
| INCOME AND EXPENSES | |
| Total Interest Income | $ 190.04 million |
| Total Interest Expense | $ 97.74 million |
| Net interest income | $ 92.31 million |
| Provision for loan and lease losses | $ 3.00 million |
| Total non interest income | $ 28.51 million |
| Total non interest expense | $ 72.99 million |
| Pre-tax Net Operating Income | $ 37.75 million |
Customer Reviews for Salem Five Cents Savings Bank
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Savings Comparison
This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis."
PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES
Tax Rate: 30%
All calculations are for demonstration purposes only."
- 1LOCAL SAVINGSBank-$50,000N.A.0.01%0.04x (National Avg. - 0.23%)$10-SCENARIO
Year Rate
0.01%Annual
InterestAnnual Interest
(After Tax)1 50,000 5 4 2 50,005 5 4 3 50,010 5 4 4 50,015 5 4 5 50,020 5 4 6 50,025 5 4 7 50,030 5 4 8 50,035 5 4 9 50,040 5 4 10 50,045 5 4 11 50,050 5 4 12 50,055 5 4 13 50,060 5 4 14 50,065 5 4 15 50,070 5 4 16 50,075 5 4 17 50,080 5 4 18 50,085 5 4 19 50,090 5 4 20 50,095 5 4 TOTAL $100 $70 - 2ONLINE SAVINGSBank-$50,000N.A.4.00%17.70x (National Avg. - 0.23%)$1,000-SCENARIO
Year Rate
4.00%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,000 1,400 2 52,000 2,080 1,456 3 54,080 2,163 1,514 4 56,243 2,250 1,575 5 58,493 2,340 1,638 6 60,833 2,433 1,703 7 63,266 2,531 1,771 8 65,797 2,632 1,842 9 68,428 2,737 1,916 10 71,166 2,847 1,993 11 74,012 2,960 2,072 12 76,973 3,079 2,155 13 80,052 3,202 2,241 14 83,254 3,330 2,331 15 86,584 3,463 2,424 16 90,047 3,602 2,521 17 93,649 3,746 2,622 18 97,395 3,896 2,727 19 101,291 4,052 2,836 20 105,342 4,214 2,950 TOTAL $59,556 $41,689
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