Lee Bank is headquartered in Lee and is the 98th largest bank in the state of Massachusetts. It is also the 2,267th largest bank in the nation. It was established in 1992 and as of March of 2014, it had grown to 72 employees at 5 locations. Lee Bank's savings rates are 2X the national average, and it has a B health rating.
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This bank is the best - you get a friendly people that you can talk to, always a person on the phone and not a "press 1, 2, 3". Their interest rate for the checking account is incredible, and they refund your ATM fees. I would never bank at any of Banks of America, Chase etc., after banking with these folks. No complaints.
Why Would You Bank Anywhere Else? Great Bank!
Nice people to deal with, friendly, easy to talk to. Always prompt response to any questions, their checking account pays 2.5% with no fees, how can you go wrong?
Data for Q1 2014
Institution Health
Texas Ratio
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 Lee Bank had $8.96 million in non-current loans and owned real-estate with $32.4 million in equity and loan loss allowances on hand to cover it. This gives Lee Bank a Texas Ratio of 27.66% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Lee Bank experienced no significant changes from 28.66% as of March 31, 2013 to 27.66% as of March 31, 2014, resulting in a positive change of 3.50%.This indicates that the balance sheet and financial strength for Lee Bank has had no significant changes in recent periods.
Deposit Growth
In the past year, Lee Bank has increased its total deposits by $7.8 million, resulting in 4.02% 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 Lee Bank has shown is excellent.
Capitalization
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. Lee Bank has $285.68 million in assets with $32.4 million in equity, resulting in a capitalization level of 11.34%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 33645 |
| Year Established | 1992 |
| Employees | 72 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $285.68 million |
| Loans | $234.15 million |
| Deposits | $201.59 million |
| Equity Capital | $29.25 million |
| Loan Loss Allowance | $3.16 million |
| Unbacked Noncurrent Loans | $7.93 million |
| Real Estate Owned | $1.03 million |
| Historic Data - March 2013 | |
|---|---|
| Assets | $272.23 million |
| Equity Capital | $28.15 million |
| Loan Loss Allowance | $3.15 million |
| Unbacked Noncurrent Loans | $7.93 million |
| Real Estate Owned | $1.42 million |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.49% |
| Return on Assets | 0.27% |
| Return on Equity | 2.57% |
| Interest Income | $2.57 million |
Always verify rates and promotions with the bank or credit union. We are not Lee Bank, we are a rate comparison website and can not provide official rates or promotions.
Lee Bank Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.25% | - | $15k | Kasasa Saver - Qualifying | |
| 0.10% | - | - | Personal Savings Account | |
| 0.10% | $25 | - | Performance Account | |
| 0.05% | - | - | Kasasa Saver - Non-Qualifying | |
| 0.01% | $25 | - | Health Savings Account |
Lee Bank Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | $100k | - | Clear Choice Money Market |
Lee Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 2.50% | - | $15k | Kasasa Cash - Qualifying | |
| 0.05% | - | - | Kasasa Cash - Non Qualifying |
Lee Bank CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.90% | $500 | - | 48 Month CD | |
| 0.75% | $500 | - | 36 Month CD | |
| 0.60% | $500 | - | 30 Month CD | |
| 0.50% | $500 | - | 24 Month CD | |
| 0.40% | $500 | - | 18 Month CD | |
| 0.25% | $500 | - | 12 Month CD | |
| 0.20% | $500 | - | 6 Month CD | |
| 0.15% | $500 | - | 3 Month CD |
Lee Bank IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.90% | $500 | - | 48 Month IRA CD | |
| 0.75% | $500 | - | 36 Month IRA CD | |
| 0.60% | $500 | - | 30 Month IRA CD | |
| 0.50% | $500 | - | 24 Month IRA CD | |
| 0.40% | $500 | - | 18 Month IRA CD | |
| 0.25% | $500 | - | 12 Month IRA CD | |
| 0.20% | $500 | - | 6 Month IRA CD | |
| 0.15% | $500 | - | 3 Month IRA CD |
| Lee Bank Locations | ||
|---|---|---|
| Great Barrington Branch | 279 Main Street | Great Barrington, MA 1230 |
| Pittsfield Branch | 75 North Street | Pittsfield, MA 1201 |
| Lee Bank | 75 Park Street | Lee, MA 1238 |
| Stockbridge Branch | Elm Street | Stockbridge, MA 1262 |