Applications / Mortgage Analytics / Lenders / New Jersey / Spencer Savings Bank, SLA
Elmwood Park, NJ · Savings institution · FDIC · $4.0 billion assets · 207 loans in 2025
Spencer Savings Bank, SLA's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
207
loans originated, 2025
330
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Spencer Savings Bank, SLA, a New Jersey savings institution, lends far more in poorer and majority-minority neighborhoods than similar lenders do, and in 2025 its lending grew again after three years of decline.
Similar lenders here are savings institutions making between half and twice as many loans. Of Spencer's loans, 36.9% went to low- and moderate-income (LMI) neighborhoods, against 15.8% at the typical similar lender, a higher share than almost all of them. Nearly half, 49.3%, went to majority-minority neighborhoods, where the typical peer made 4.4%. This is no one-year blip: five years before, the shares were 34.0% and 48.0%.
The borrowers themselves are less often LMI. They took 17.7% of its loans, below the 24.3% of the typical peer and lower than about three-quarters of peers. Its typical loan, $325,000, is larger than the peers' $232,500, which may mean it serves borrowers with higher incomes even within poorer neighborhoods.
Its loans rose 18% in 2025, to 207, faster than the 7% of the typical peer and the 10% of the whole market. That followed a steep slide, from 536 loans in 2018 to 175 in 2024. One good year does not yet reverse it.
Home purchases make up only 31.9% of its lending. Refinances account for 38.2% and home-improvement loans 18.8%, so much of its business is with people who already own their homes. Every loan was conventional, with none backed by a government agency. It has lent in the New York area since 1990.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Spencer Savings Bank, SLA took 330 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 38.2% · Purchase 31.9% · Home improvement 18.8% · Other 11.1%
Conventional 100.0% · of 207 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| New Jersey | 183 | 88.4% |
| New York | 23 | 11.1% |
| Pennsylvania | 1 | 0.5% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| New York-Jersey City-White Plains | 105 |
| Newark | 62 |
| Lakewood-New Brunswick | 26 |
| Trenton-Princeton | 6 |
| Camden | 5 |
| Atlantic City-Hammonton | 2 |
| Montgomery County-Bucks County-Chester County | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 7G95BGMCIZTO8KTOM640 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 845573 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 44693 | 1990–2010 |
| Respondent ID (the HMDA filer code before 2018) | 330076 | 2011–2017 |
Established 19 September 1939. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Spencer Savings Bank, SLA's data.
Spencer Savings Bank, SLA's data
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Spencer Savings Bank, SLA and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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