Salem Five Financials

What You Need
to Know

Salem Five is owned and operated for the benefit of its customers. As an FDIC insured mutual bank with no stockholders, we’re accountable to our customers, employees, and communities.

Mutual banks are a stable influence in local markets because most of our customers, both commercial and consumer, live and do business in our community. Since we’re not publicly held and have no stockholders, we can make business decisions with a long-term perspective, building mutually beneficial relationships and maintaining a great degree of flexibility. This charter of mutuality creates and nurtures our customer focused approach in all we do.

"I’m proud to report that Salem Five Bancorp (SFB) had another strong year in 2024. Total consolidated assets increased by $555 million to $7.8 billion, which solidifies Salem Five’s position as the fourth largest banking institution and largest mutual bank in the state. Consolidated earnings were $53.9 million, despite a challenging year for the banking industry."
                                                   - Ping Yin Chai, President & CEO