GSL Savings Bank

What GSL Savings Bank does

GSL Savings Bank is a state-chartered, FDIC-insured community bank founded in 1907 and headquartered in Guttenberg, New Jersey. The bank serves individuals, families, and small-to-medium businesses across Hudson and Bergen Counties through two physical branches (Guttenberg and Fairview) and a standard digital banking stack comprising online banking, an iOS/Android mobile app with mobile check deposit, Zelle person-to-person payments, and an ATM network. Its product set spans four personal checking tiers (including a high-yield Money Maker Checking at up to 4.03% APY), savings, money market, certificates of deposit (3- to 60-month terms), Traditional and Roth IRAs, commercial checking, residential mortgages (purchase, refinance, second homes, investment property), home equity loans, HELOCs, and commercial and multi-family mortgages.

The revenue model is a standard community bank net interest margin business: collecting deposits at competitive rates and lending them out as residential mortgages, HELOCs, commercial mortgages, and multi-family loans, supplemented by transaction fees (wire transfers, overdraft, ATM, stop payment, account maintenance) and ancillary services. Pricing is transparent and posted publicly, with tiered APYs, balance-based fee waivers, and a promotional high-yield product designed to attract new deposits. The go-to-market is direct-to-consumer, relationship-based, and community-engaged, supported by event sponsorship (e.g., National Night Out), bilingual English/Spanish website content, email newsletter, and app-store presence. In June 2026, GSL announced an all-stock merger agreement with Bogota Financial Corp. (parent of Bogota Savings Bank) to create a combined entity of approximately $1.0 billion in assets, expected to close in H2 2026 pending regulatory approvals, with GSL's President & CEO Frank R. Giancola slated to become EVP and COO of Bogota upon close.

Name

GSL Savings Bank

Legal name

GSL Savings Bank

Website

https://gslsavingsbank.com

Company type

Private

Founded year

1907

Operating status

Operating

Headcount range

11–50 employees

Short description

GSL Savings Bank is a 1907-founded, state-chartered community bank in northern New Jersey serving individuals, families, and small businesses through two branches and digital channels with deposits, mortgages, and consumer lending, now merging into Bogota Savings Bank.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

Keywords

• Retail banking services
• Community banking
• Mortgage lending
• Deposit accounts
• Savings and CDs

Headquarters

HQ city

Fairview

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Interest Income from Lending: Primary revenue stream from residential mortgages, commercial mortgages, multi-family mortgages, home equity loans, HELOCs, and business loans. Interest rates vary by product type and term, with fixed rate and adjustable rate options available.
2. Deposit Interest Spread: Earning interest spread by collecting deposits (checking, savings, money market, CDs, IRAs) and lending at higher rates. Competitive deposit rates offered to attract customer funds.
3. Fee-Based Services: Various service fees including monthly maintenance fees (tiered by account type and balance), wire transfer fees ($25 domestic outgoing, $45 foreign outgoing), overdraft/returned item fees ($32), ATM fees for non-GSL machines ($1), stop payment fees ($30), money orders ($5), and other ancillary banking services.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

GSL Savings Bank is a community bank offering deposit products (checking, savings, money market, CDs, and IRAs), residential and commercial mortgage lending, business checking, and digital banking (online and mobile). Customers are served through two physical branches in Guttenberg and Fairview, NJ, plus digital channels and a MasterCard/Zelle-enabled debit card program.

Product overview

GSL Savings Bank is a community bank founded in 1907, offering a comprehensive suite of personal and business banking products through a two-branch network in Guttenberg and Fairview, NJ. The product portfolio includes four checking account types (Basic Checking, NJ Consumer Checking, N.O.W. Interest Checking, and the high-yield GSL Money Maker Checking with up to 4.03% APY), multiple savings options (Regular Savings, Statement Savings, Holiday Club, Super Money Market), Certificates of Deposit (3-month to 60-month terms), and Traditional/Roth IRAs. Business banking services encompass Commercial Checking and commercial/multi-family mortgages. Lending products include Residential Mortgage Loans, Fixed Home Equity Loans, and HELOCs. All products are supported by online/mobile banking with mobile deposits, Zelle person-to-person payments, and wire transfer services. The bank operates 24/7 Internet Banking Support at 833-888-0295.

Differentiator

Problem solved

Functional benefit

Products and services

• Basic Checking Entry-level personal checking account with debit card, free online banking, Bill Pay, eStatements, Zelle, and unlimited check writing. Requires $100 minimum to open, $3 monthly fee if daily balance falls below $300.
• NJ Consumer Checking Low-balance friendly personal checking account for customers with minimal transactions. Requires $50 minimum to open, $3 monthly service charge, $0.15 per check after 8 FREE per cycle.
• N.O.W. Interest Checking Interest-bearing personal checking account with competitive interest on entire balance. $10 monthly service charge if balance falls below $500.
• GSL Money Maker Checking Account High-yield personal checking account offering up to 4.03% APY for balances of $25,000 and over (new money only). Features tiered interest rates, no transaction limitations, debit card, free online banking, Bill Pay, eStatements, and Zelle. Requires $1,000 minimum to open, $15 monthly service charge if balance falls below $1,000.
• Regular Savings Account Traditional passbook savings account paying interest, allowing deposits and withdrawals at any time without notice.
• Statement Savings Account Savings account with monthly mailed statements and the same interest terms as Regular Savings.
• Holiday Club Account Savings account designed for holiday expenses; additional deposits allowed anytime with funds held until club checks are processed in October.
• Super Money Market Account Interest-bearing money market account for individuals and businesses with tiered interest rates, debit card access, and a $1,500 opening minimum. Limited to six withdrawals/transfers per statement cycle per Reg D. $15 monthly fee if balance falls below $1,500.
• Certificates of Deposit Term deposit accounts available as Passbook or Statement Certificates with terms from 3 to 60 months at competitive interest rates. $500 minimum to open; early withdrawal penalties apply.
• Traditional IRA Individual retirement account offering tax-deductible contributions (where IRS-qualified), tax-deferred interest earnings, and annual contribution limits of $5,000 ($6,000 if age 50+).
• Roth IRA After-tax retirement savings account with tax-free earnings accumulation and distributions. $50 minimum for savings IRA; $500 minimum for CD IRA. Contributions allowed beyond age 70 with earned income.
• Commercial Checking Business checking account featuring a FREE MasterCard debit card and FREE online and phone banking access. $1,000 minimum to open, with a $15 monthly service fee if the daily balance falls below $1,000.
• Residential Mortgage Loans Mortgage loans for home purchases, refinancing, second homes, and investment properties, with local decision-making, competitive rates, and 10–30 year fixed-rate terms plus ARM options. Underwritten by S.A.F.E. Act-registered MLOs (e.g., Ryen Pezzolla MLO#1948090, Ty Pezzolla MLO #2572268).
• Fixed Home Equity Loans Fixed-rate loans secured by home equity providing lump-sum credit with stable, fixed monthly payments.
• Home Equity Lines of Credit (HELOC) Flexible revolving credit line secured by home equity. Variable rate tied to Prime Rate with a 5% floor and 10% ceiling. Used for major purchases, education, home improvement, or debt consolidation. Maximum loan amount $500,000; available to NJ residents.
• Commercial Mortgages Mortgage financing for commercial properties underwritten with local decision-making, intended for owner-occupant or investor commercial real estate acquisition and refinancing.
• Multi-Family Mortgages Mortgage financing for multi-family residential properties, supporting acquisition and refinancing of small residential investment assets.
• Mobile Banking App (iOS and Android) Mobile banking application available on iOS and Android that enables account access, fund transfers, bill pay, mobile check deposit via phone camera, and Zelle person-to-person payments.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

One partnership is on record.

• Bogota Savings BankcoreStrategic or Co-development Partner · 3 June 2026GSL Savings Bank has entered into a merger agreement with Bogota Savings Bank (holding company: Bogota Financial Corp.). Under the agreement, GSL will merge into Bogota Savings Bank, creating a combined entity with approximately $1.0 billion in assets. The all-stock transaction is expected to close in H2 2026 pending regulatory approvals. At close, GSL President & CEO Frank R. Giancola will become Executive Vice President and Chief Operating Officer of Bogota. GSL depositors will become depositors of Bogota with equivalent rights.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Valley National Bank: Large NJ-headquartered commercial bank with broad consumer and commercial offerings, serving Hudson/Bergen Counties and competing directly for GSL's deposit and mortgage customers.

Regional players

• Two River Community Bank: Community bank operating in northern/central NJ with comparable consumer deposit and small-business banking offerings adjacent to GSL's footprint.
• Sussex Bank (part of FB Financial/First Bank network): NJ community bank with consumer deposits, mortgage lending, and small-business banking services — a similar small-scale community institution competing in adjacent NJ markets.
• Lakeland Bank: New Jersey community bank (now part of First Bank) with a comparable mix of deposit products, commercial lending, and mortgage origination in northern NJ markets.
• ConnectOne Bancorp: NJ-based commercial and retail bank competing for consumer deposits, commercial checking, and residential mortgage business in overlapping North Jersey geographies.
• 1st Constitution Bank: NJ-based community commercial bank with similar consumer/small-business deposit and lending products targeting northern and central NJ markets.
• Columbia Bank: NJ-headquartered commercial and retail bank with extensive branch network across Hudson/Bergen and broader NJ — a regional competitor for the same deposit and mortgage customers GSL targets.

Direct peers

• Metuchen Savings Bank: NJ-based savings bank offering consumer deposit accounts and residential mortgage products in a community-banking model that directly parallels GSL's structure and product mix.
• Bogota Savings Bank: State-chartered mutual savings bank headquartered in Bogota, NJ, focused on residential deposit gathering and mortgage lending in Bergen County — the announced merger partner and most structurally comparable institution to GSL.
• Haven Savings Bank: Mutual savings bank serving northern NJ (Bergen/Hudson) with deposit products, mortgage lending, and a community-banking model very similar to GSL's.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/122487024476148
• LinkedInlinkedin.com/company/gsl-savings-bank-guttenberg-nj-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GSL Savings Bank