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617-361-6900
1196 River Street
Boston, MA 02136

Blue Hills Bank is headquartered in Boston and is the 20th largest bank in the state of Massachusetts. It is also the 456th largest bank in the nation. It was established in 1871 and as of March of 2014, it had grown to 200 employees at 9 locations. Blue Hills Bank's savings rates are 92% higher than the national average, and it boasts a A+ health rating.

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Blue Hills Bank (MA) Introduces New 5-Year Bump Rate CD - 8/26/2014

Blue Hills Bank (MA) introduced a 5-Year Bump Rate CD (2.10% APY). This 5-Year CD can be opened with a $500 deposit and is available only to residents of Massachusetts.



Reviews (6)

Statement Mistakes And/Or Fraud

This bank has not been careful in making debits correctly and in erroneously charging fees where they were not warranted.  Complaints can correct the mistake at the time, but more keep happening.  They do not check the tellers and others.  I can't help wonder if many others have had the same problem, but perhaps do not even realize it if they do not check their statements on line.

Blue Hills Savings Bank

As a long term customer, over twenty years, I have always been satisifed with the service I've received.  On line banking, checking, safety deposit box, mortgage, personal loans, home equity loan, etc. are some of the services I've received.  In over twenty years, NO COMPLAINTS!  I love my bank.  I work in financial services so I'm quite picky but Blue Hills fka Hyde Park Savings Bank has been a positive part of my life.

Lack Of Honesty In Financing A Home

When I saw the low financing costs being offered by Hyde Park Savings, I was happy. It seemed that it beat out the competitors not just by rate but also by APR. There was no doubt in my mind that this was the way to secure my mortgage. My initial contact with the bank staff was friendly and seemingly informative but once they became confident that I was likely to do business with them, they neglected to provide crucial information that resulted in a significantly higher interest rate than was quoted. Sure my ignorance of the process got in the way so when I realized that I should have requested to lock the interest rate and requested to do so, I was told that the rate had gone up. Fine. "Well, I am requesting to lock it now," I stated. "You'll have to speak to the originator." Fine again. "Oh, I'm sorry, the originator is on the phone right now." Somehow,that originator was not available to me until the very next day when the rates had increased by 0.275 and 0.375 points higher than had been originally quoted.

I will go a step further. Those low rates that were offered on line, are totally inaccurate. Mortgage Marvel will tell you that there are these incredibly low rates. However, when it gets down to the nitty gritty, Hyde Park unlike other institutions does not include PMI payments so their very competitive rates are similar to most and actually more expensive than some. I suppose that's good business sense for some but outright dishonesty for me. I wish I had been knowledgeable enough to see through the deception. There are some institutions that level with you outright. Once I got suspicious of this bank I checked out a few others but unfortunately,  I had already made some financial commitments like home appraisal and didn't want to just let that go. Don't be caught unprepared like I was. Keep asking questions, you'll soon see the inconsistencies!

Out Of State Tasks

I have kept some accounts or financial instruments with this bank since childhood.  They have always been efficient and friendly.  I recently had to cash in a CD after having lost the book and being many miles from Massachusetts.  They put me on the right path to getting this done quickly through snail mail.

Mistakes That I Paid For

Years ago I had an account with this bank and it was a good local bank. Fast forward three years and what a mess! First the papers with my new address don't get sent to the main office so check and debit card go to the wrong place. I have to open a new account but have to leave money in first account because I arranged for direct deposit. A bill payment is short $3 because my money is divided payment denied $30 fee. This happened twice even though they paid another payment that was short I have paid $90 in fees in the first month. One star is generous in this review.

Worse Customer Service

I had to go to the Truman Highway location to activate my debit card. I waited 35 minutes for someone to help me. There were 4 people working, but they were helping only 2 customers. So when they finally saw how aggravated I was getting, someone came out to help me. My first question to her was "why does it take 4 people to help just 2 customers?" Of course no good answer. But again, THE WORSE CUSTOMER SERVICE!! Never let your customers wait a hour!!!!!!!!!!!!!!! Looking for a new bank with better customer service. Which would be any other bank but this one.



Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Blue Hills Bank had $3.86 million in non-current loans and owned real-estate with $154.51 million in equity and loan loss allowances on hand to cover it. This gives Blue Hills Bank a Texas Ratio of 2.50% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Blue Hills Bank experienced no significant changes from 1.55% as of March 31, 2013 to 2.50% as of March 31, 2014, resulting in a negative change of 61.50%. This indicates that the balance sheet and financial strength for Blue Hills Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Blue Hills Bank has increased its total deposits by $270.79 million, resulting in 30.84% 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 Blue Hills Bank 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. Blue Hills Bank has $1.5 billion in assets with $154.51 million in equity, resulting in a capitalization level of 10.29%, which is above average.

Institution Statistics

Overall
FDIC Certificate #90160
Year Established1871
Employees200
Primary RegulatorFDIC
Assets and Liabilities
Assets$1.50 billion
Loans$914.47 million
Deposits$1.15 billion
Equity Capital$144.16 million
Loan Loss Allowance$10.35 million
Unbacked Noncurrent Loans$3.86 million
Real Estate Owned$0
Historic Data - March 2013
Assets$1.20 billion
Equity Capital$148.28 million
Loan Loss Allowance$6.39 million
Unbacked Noncurrent Loans$3.86 million
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets-0.11%
Return on Equity-1.08%
Interest Income$10.17 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Blue Hills Bank, we are a rate comparison website and can not provide official rates or promotions.

Blue Hills Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.00%$10k$1mUltimate Savings - Promotion
0.65%$50k-Ultimate Savings
0.60%$50k$2,500kBlue Hills Relationship Savings
0.10%$10k-Business Statement Savings
0.05%--Statement Savings
0.05%--Passbook Savings

Blue Hills Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.45%$100k$2,500kBusiness Money Market Account
0.30%$50k-Money Market Account

Blue Hills Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.50%--IOLTA
0.05%--Ultimate Checking
0.02%--Blue Hills Business Checking
0.02%--Analyzed Business Checking With Interest
0.02%--Community Not-For-Profit Checking
0.02%--Municipal Checking
0.02%--Analyzed Municipal Business Checking

Blue Hills Bank CD Rates

DetailsAPYMINMAXPRODUCT
2.10%--5 Year Ultimate CD (with Ultimate Checking)
2.10%--5 Year Bump Rate CD Promo
2.00%--5 Year CD
1.75%--4 Year Ultimate CD (with Ultimate Checking)
1.65%--4 Year CD
1.35%--3 Year Ultimate CD (with Ultimate Checking)
1.35%--3 Year Bump Rate CD Promo
1.25%--3 Year CD
1.10%--30 Month CD - Promotion
1.00%--2 Year Ultimate CD (with Ultimate Checking)
0.90%--2 Year CD
0.80%--16 Month CD - Promotion
0.60%--18 Month Ultimate CD (with Ultimate Checking)
0.50%--18 Month CD
0.50%--12 Month Ultimate CD (with Ultimate Checking)
0.40%--12 Month CD
0.40%--Business 12 Month CD
0.25%--Business 6 Month CD
0.15%--6 Month CD
0.10%--91 Day CD
0.10%--Business 91 Day CD

Blue Hills Bank IRA Rates

DetailsAPYMINMAXPRODUCT
2.00%--5 Year IRA
1.25%--3 Year IRA
Locations


Blue Hills Bank Locations
Truman Parkway Branch1065 Truman ParkwayBoston, MA 2136
Norwood Branch111 Lenox StreetNorwood, MA 2062
Blue Hills Bank1196 River StreetBoston, MA 2136
Brookline Branch1337 Beacon StreetBrookline, MA 2446
West Roxbury Branch1920 Centre StreetWest Roxbury, MA 2132
Dedham Branch741 Providence HighwayDedham, MA 2026