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Mariner's Bank Acquisition FAQs

In July 2021, Spencer Savings Bank entered into an agreement to acquire Mariner’s Bank. The acquisition, which requires approvals from state and federal regulatory agencies, is anticipated to close in the fourth quarter of 2021. During this time, we will be working with the Mariner’s team to ensure a seamless transition for all employees and customers.

This is a significant opportunity for both Mariner’s Bank and Spencer Savings Bank to broaden and strengthen their footprint in New Jersey by combining two well-respected community banks whose core values and cultures are similar. In addition to outstanding financial strength, by joining the banks together, customers will have access to additional banking products, services and convenience.

We expect this merger to only add value to the customers and communities that both banks service. We are committed to making the transition as seamless as possible.

Spencer Savings Bank has additional branches and ATMs, for added customer convenience. You will have access to 26 Financial Center locations across 6 counties in New Jersey. Our enhanced digital banking capabilities will allow you to conveniently bank when it is suitable for you. You will enjoy more banking products and services, competitive pricing, flexibility, local decision-making and the opportunity to build relationships with a broader network of expert financial professionals. Spencer has a broad menu of products and services that are on par with those of the larger commercial banks. We offer our business customers an enhanced line of business products and services and combine this with a strong team that provides personal attention and care to help them meet all their business financial goals.

Spencer Savings Bank, headquartered in Elmwood Park, NJ, is a full service, mutually organized and operated, community bank. We have been serving our local communities with integrity and pride for over 100 years and are known as one of New Jersey’s strongest community banks. The bank has over $3 billion in assets and employs a team of almost 300 banking professionals. Spencer has 20 Financial Centers located in 6 NJ counties (Passaic, Union, Bergen, Mercer, Morris and Essex) and specializes in delivering premier banking products and services to both residents and businesses. For additional information about Spencer Savings Bank, SLA, please visit our website at

Mariner’s Bank is a state chartered commercial bank headquartered in Edgewater, New Jersey. The bank opened for business in 2001 and currently operates 6 Bergen County, NJ full-service banking offices in Edgewater, Cliffside Park, Cresskill, Dumont, Hackensack and Paramus. For additional information about Mariner’s Bank, please visit the bank’s website at

Spencer Savings Bank and Mariner’s bank are two relationship-focused financial institutions that have deep roots in New Jersey and share a commitment to helping clients achieve financial success. Together we will have a stronger company, better positioned to serve our customers, and drive economic growth in the communities we serve.

All 6 Mariner’s Bank locations will remain open with no anticipated changes in the near future. The signage will eventually change to Spencer Saving Bank on the legal closing date of this merger.

You can expect to continue to see many of the Mariner’s Bank team members that you currently see as they will be joining the Spencer team.

Please continue working with your Mariner’s Bank team who currently services your account.

At this time, please continue to follow Mariner’s Bank hours of operation. If there are any changes in the future, you will be notified well in advance.

Yes, the Mariner’s Bank name will change to Spencer Savings Bank on the legal closing date of this merger.

The founding principles of Spencer Savings Bank are based on community support and involvement. We believe that our dedication and contributions to local communities has helped fuel success for local businesses, individuals and families. As we continue to grow, we are committed to operate as a community bank.

The Spencer team will be reaching out in a variety of ways to keep you well-informed throughout the process. A guide will also be mailed to you, well in advance, with important information regarding the conversion.

Until the system conversion takes place, Mariner’s Bank customers should continue to bank as usual at the Mariner’s Bank branches. You will be notified when the system conversion takes place and we will continue to update this site with the most up-to-date information as we progress through the merger.

Until the system conversion takes place, Spencer Savings Bank customers should continue to bank as usual at the Spencer Savings Bank branch locations.

Currently, we do not anticipate a significant number of changes to existing Mariner’s bank account numbers. However, should you be affected in the future by an account number change, you will be notified prior to the merger.

Your CD will be honored with the same rate and terms until it matures, regardless of whether it matures before or after the merger.

You should continue to use your Mariner’s Bank Personal Internet and Mobile Banking platforms. You will be notified of any changes that are required prior to the account conversion.

We will notify you in advance if any changes are necessary prior to conversion.

Your mortgage servicing will be transferred to Spencer Savings Bank, after the conversion.

The merger has no impact on existing loan rates, terms, and conditions.

Mariner’s Bank customers should continue to make their loan payments as usual. When the mortgage servicing changes to Spencer, you will be notified of the new address to mail your payments along with other payment options for you to choose from.

Until the merger has been finalized, these services will continue for you without interruption. When your accounts are converted to Spencer Savings Bank, so will your direct deposits, along with most of your automated payments and transfers. If there are any payments or transfers that we become aware of that we cannot convert, we will notify you in advance to make the switch with the merchant. Additional information will follow specific to online banking and bill pay transactions.

At this time, you should continue to use your current Mariner’s Bank ATM card at a Mariner’s bank branch to avoid ATM fees. When the merger is complete, you will receive a new ATM/ Debit card from Spencer Savings Bank. There are no ATM fees incurred for Spencer customers who use a Spencer ATM. Spencer also has additional account options that provide ATM rebates as part of the account benefits.

Spencer Savings Bank maintains physical, electronic and procedural safeguards that comply with federal guidelines to guard your nonpublic personal information against unauthorized access or use. If you have additional inquiries, please visit our website at and/or contact our Customer Service Center team at (800) 363-8115.

Our staff is multi-lingual, in addition, we take pride in connecting with and serving a variety of communities in New Jersey.

Yes, a guide will be mailed to all customers, well in advance, to use as a reference with more information.

There is nothing that needs to be done at this time. Until the system conversion takes place, please continue to bank as usual using your Mariner’s Bank debit card, checks and deposit slips, online banking, etc. You should also continue to make any loan payments as usual. We will notify you, well in advance, about any changes to your account and services.

We realize the merger may generate specific questions. For more information, please contact your Mariner’s Bank Relationship Officer or Branch Manager. You can also visit the websites of either Mariner’s Bank or Spencer Savings Bank to learn more at and

If you have any further questions that are not answered here, please visit our website at or contact our Customer Service Center team at (800) 363-8115. The hours of operation of the Customer Service Center are Monday-Friday from 8am-8pm and Saturday from 8am-2pm.