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Overview / Commentary
800-657-3272
10 Meridian Street
Boston, MA 02128

EBSB Direct is headquartered in Boston and is the 10st largest bank in the state of Massachusetts. It is also the 277th largest bank in the nation. It was established in 1991 and as of December of 2013, it had grown to 420 employees at 27 locations. EBSB Direct's money market rates are 2X the national average, and it has a B+ health rating.

Related Posts

Top Money Market Account Rate at EBSB Direct - New England and NY Only - 1/9/2014

EBSB Direct continues to have a top rate on its money market account. It has a 1.00% APY for balances of $50K to $1 million. For balances between $5K and $50K, the rate is 0.25%. No interest is paid f ...



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Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
B

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 EBSB Direct had $41.66 million in non-current loans and owned real-estate with $261.06 million in equity and loan loss allowances on hand to cover it. This gives EBSB Direct a Texas Ratio of 15.96% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for EBSB Direct decreased slightly from 18.78% as of December 31, 2012 to 15.96% as of December 31, 2013, resulting in a positive change of 15.01%.This indicates that the balance sheet and financial strength for EBSB Direct has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, EBSB Direct has increased its total deposits by $383.51 million, resulting in 20.51% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth EBSB Direct has shown is excellent.

Capitalization

GRADE:
B

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. EBSB Direct has $2.68 billion in assets with $261.06 million in equity, resulting in a capitalization level of 9.74%, which is above average.

Institution Statistics

Overall
FDIC Certificate #33510
Year Established1991
Employees420
Primary RegulatorFDIC
Assets and Liabilities
Assets$2.68 billion
Loans$2.27 billion
Deposits$2.25 billion
Equity Capital$235.73 million
Loan Loss Allowance$25.34 million
Unbacked Noncurrent Loans$40.28 million
Real Estate Owned$1.39 million
Historic Data - December 2012
Assets$2.25 billion
Equity Capital$197.40 million
Loan Loss Allowance$20.50 million
Unbacked Noncurrent Loans$40.28 million
Real Estate Owned$2.60 million
Profit Margin - Quarterly
Net Interest Margin3.23%
Return on Assets0.6%
Return on Equity6.94%
Interest Income$96.29 million
Rates
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EBSB Direct Money Market Rates

DetailsAPYMINMAXPRODUCT
1.00%$50k$1mEBSBdirect Money Market Account

EBSB Direct CD Rates

DetailsAPYMINMAXPRODUCT
1.10%$1k-36 Month EBSB CD
0.55%$1k-10 Month EBSB CD
Locations

EBSB Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 10 Meridian Street - Boston, MA 02128