The organization and management of a savings bank are much like those of the commercial bank. The control is in the hands of a board of directors or trustees composed of men chosen for their responsibility and high character. In the case of mutual savings banks the trustees fill vacancies in their own number, making the board a self-perpetuating body; in the stock savings bank the stockholders generally elect the directors. The directors choose the officers who are to manage the bank's affairs, invest the funds deposited, and semi-annually or quarterly declare the dividends and the rate of interest to be paid on deposits.

The officers of a large city savings bank consist of a president, one or more vice-presidents, a treasurer, a secretary with the necessary assistants, and possibly an auditor and counsel. In a small bank the executive duties may be performed by a single officer, known as the secretary and treasurer. The treasurer is the financial officer of the bank, having the custody and management of investments, subject to the direction of the board of directors, depositing funds in other banks, drawing checks upon them, collecting interest on investments, and receiving applications for loans. The secretary keeps the minutes and records of the board of trustees, attends to the correspondence, acts as general auditor and accountant for all departments, and has general charge of the bookkeeping of the bank. The clerical work is carried on by a paying teller, receiving teller, and such bookkeepers, clerks, messengers and assistants as the particular nature of the bank may require.