Spencer Savings Bank, SLA
Elmwood Park, New Jersey, Bergen County
$4.0B in total assets, the 340th largest of 4,309 US banks and 10th of 50 headquartered in New Jersey.
- FDIC certificate
- 30076
- Established
- 1939
- Owned by
- No holding company
- Primary regulator
- FDIC
- Website
- www.spencersavings.com
At a glance
Compared with 18 banks headquartered in New Jersey with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $4.0B | 78% | $2.7B | |
| Loans | $3.3B | 78% | $1.9B | |
| Deposits | $3.0B | 67% | $2.3B | |
| Return on assets | 0.53% | 33% | 0.79% | |
| Net interest margin | 2.84% | 28% | 3.28% | |
| Efficiency ratio | 66.7% | 65% | 63.1% | |
| Equity to assets | 11.86% | 67% | 11.34% | |
| Loans to deposits | 108% | 78% | 97% |
Growth
Total assets grew 3.2% a year over the last 5 years and 4.7% a year over 10 years, including 2 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Nov 2021 | Mariner's Bank Edgewater, NJ | $435M |
| Mar 2018 | Wawel Bank Garfield, NJ | $73M |
| Mar 1988 | Elmora Savings and Loan Association Elizabeth, NJ | $50M |
Where they operate
28 branches in 7 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Bergen County, NJ | $1.8B | 2.6% | 12 of 45 |
| Union County, NJ | $445M | 1.8% | 13 of 30 |
| Passaic County, NJ | $331M | 1.2% | 10 of 19 |
| Essex County, NJ | $223M | 0.8% | 19 of 31 |
| Morris County, NJ | $112M | 0.4% | 19 of 28 |
| Mercer County, NJ | $69M | 0.3% | 18 of 22 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 6 branches since 2016 (22 to 28, +27.3%). 3 opened, 8 acquired, 5 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 22 | |||
| 2018 | Acquired Wawel BankClosed Garfield and Wallington | 2 | 2 | 0 | 22 |
| 2020 | Opened UnionClosed Garfield and Union | 1 | 2 | −1 | 21 |
| 2021 | Acquired Mariner's Bank | 6 | 0 | +6 | 27 |
| 2023 | Opened Edison | 1 | 0 | +1 | 28 |
| 2024 | Opened West CaldwellClosed North Caldwell | 1 | 1 | 0 | 28 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Multifamily | 45% | 15% | |
| Commercial real estate | 33% | 34% | |
| 1-4 family residential | 18% | 24% | |
| Construction and land | 3% | 5% | |
| Business (C&I) | 2% | 6% | |
| Consumer | 0% | 7% | |
| Other | 0% | 9% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 52% | 54% | |
| Time deposits | 37% | 30% | |
| Noninterest-bearing | 11% | 15% |
Brokered deposits are 0.0% of deposits (peers 7.6%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.58% | 0.68% |
| Net charge-offs, annualized | 0.02% | 0.01% |
| Reserves to loans | 0.84% | 0.98% |
| Leverage ratio | 11.23% | 10.84% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in New Jersey
Largest competitors in Bergen County, NJ
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/spencer-sla