Salem Five Cents Savings Bank is a bank based in Salem, Massachusetts, established in 1855, with $8.6 billion in total assets across 34 branches. By Trust Grade it ranks 10th of 91 banks we track in Massachusetts. Its capital ratio of 11.5% is stronger than 71% of similarly sized banks, versus a Massachusetts median of 10.2%. It was profitable over the most recent period, with a 0.91% return on assets. No consumer complaints against Salem Five Cents Savings Bank appear in the CFPB database over our analysis window — common for an institution of this size and a point in its favor.
How Salem Five Cents Savings Bank compares to Massachusetts peers
How we graded Salem Five Cents Savings Bank
The Trust Grade blends financial strength with complaint history. Full methodology →
- Strongly capitalized (11.5% capital ratio)
- Profitable (ROA 0.91%)
- No CFPB complaints on record
Consumer complaints (CFPB)
No CFPB complaints are on file for Salem Five Cents Savings Bank over the analysis window. For a smaller institution this is common and counts in its favor.
Branch locations (34)
- 71 Washington St, Salem, MA 01970
- 2 E Main St, Georgetown, MA 01833
- 359 Main St, Stoneham, MA 02180
- 85 High St, Danvers, MA 01923
- 303 Haverhill St, Rowley, MA 01969
- 424 Essex St, Salem, MA 01970
- 2 Bay Rd, South Hamilton, MA 01982
- 450 Paradise Rd, Swampscott, MA 01907
- 88 Main St, Stoneham, MA 02180
- 601 Chickering Rd, North Andover, MA 01845
- 36 Cambridge St, Burlington, MA 01803
- 210 Essex St, Salem, MA 01970
- 2171 Main St, Tewksbury, MA 01876
- 691 Rogers St, Lowell, MA 01852
- 90 Highland Ave, Malden, MA 02148
- 89 Pleasant St, Marblehead, MA 01945
- 495 Cabot St, Beverly, MA 01915
- 562a Turnpike St, North Andover, MA 01845
- 35 Boston St, Lynn, MA 01904
- 443 Main St, Woburn, MA 01801
- 8 Walkers Brook Dr, Reading, MA 01867
- 19 Concord Rd, Sudbury, MA 01776
- 19 West St, Beverly, MA 01915
- 285 Great Rd, Bedford, MA 01730
- 355 Chestnut St, Needham, MA 02492
- 221 S Main St, Middleton, MA 01949
- 855 Broadway, Saugus, MA 01906
- 160 Endicott St, Danvers, MA 01923
- 91 Lynnfield St, Peabody, MA 01960
- One Main Street, Peabody, MA 01960
- 188 Boston Rd, North Billerica, MA 01862
- 1 Center Plz, Boston, MA 02108
- 281 Main St, Wilmington, MA 01887
- 140 Rantoul Street, Beverly, MA 01915
Are deposits at Salem Five Cents Savings Bank insured?
Yes. Salem Five Cents Savings Bank is an FDIC-insured bank (FDIC certificate #23296). Deposits are federally insured up to $250,000per depositor, per ownership category — regardless of this institution's Trust Grade. The grade reflects financial strength and complaint history for comparison, not the safety of insured deposits.
Salem Five Cents Savings Bank: frequently asked questions
Is Salem Five Cents Savings Bank a good bank?
Salem Five Cents Savings Bank earns a Bankzia Trust Grade of A (97/100, "Excellent"), based on a financial-strength score of 97/100 (it has no CFPB complaints on record). Strongly capitalized (11.5% capital ratio); Profitable (ROA 0.91%).
Is Salem Five Cents Savings Bank FDIC-insured?
Yes. Salem Five Cents Savings Bank is a FDIC-insured bank (FDIC certificate #23296). Deposits are protected up to the standard FDIC limit of $250,000 per depositor, per ownership category.
How big is Salem Five Cents Savings Bank?
Salem Five Cents Savings Bank holds $8.6 billion in total assets, ranking 10th of 91 banks we track in Massachusetts. It operates 34 branches.
Does Salem Five Cents Savings Bank have CFPB complaints?
No CFPB complaints against Salem Five Cents Savings Bank appear in our data over the analysis window, which is typical for a bank of this size.
Similar Banks
Financial data from FDIC call reports; complaint data from the CFPB Consumer Complaint Database. Bankzia is an independent resource and is not affiliated with any government agency or financial institution. Figures are for general information, not financial advice.
