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Overview / Commentary
800-431-8992
146 Main Street
Monson, MA 01057

Monson Savings Bank is headquartered in Monson and is the 101st largest bank in the state of Massachusetts. It is also the 2,367th largest bank in the nation. It was established in 1872 and as of March of 2014, it had grown to 71 employees at 4 locations. Monson Savings Bank's savings rates are 92% higher than the national average, and it boasts a A+ health rating.

Reviews (1)

Don't Bother

Don't bother applying. They only will work with local customers. I applied and provided all of my personal information only for them to mail me a letter telling me that they are only accepting applications from local residents. Would have been nice if they mentioned that on their website, application or SOMEWHERE before I gave them all my info.



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 Monson Savings Bank had $601,000 in non-current loans and owned real-estate with $29.84 million in equity and loan loss allowances on hand to cover it. This gives Monson Savings Bank a Texas Ratio of 2.01% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Monson Savings Bank decreased dramatically from 3.31% as of March 31, 2013 to 2.01% as of March 31, 2014, resulting in a positive change of 39.07%.This indicates that the balance sheet and financial strength for Monson Savings Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Monson Savings Bank has increased its total deposits by $13.18 million, resulting in 5.96% 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 Monson Savings 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. Monson Savings Bank has $272.83 million in assets with $29.84 million in equity, resulting in a capitalization level of 10.94%, which is above average.

Institution Statistics

Overall
FDIC Certificate #90245
Year Established1872
Employees71
Primary RegulatorFDIC
Assets and Liabilities
Assets$272.83 million
Loans$197.59 million
Deposits$234.43 million
Equity Capital$26.64 million
Loan Loss Allowance$3.20 million
Unbacked Noncurrent Loans$601,000
Real Estate Owned$0
Historic Data - March 2013
Assets$259.48 million
Equity Capital$25.18 million
Loan Loss Allowance$3.35 million
Unbacked Noncurrent Loans$601,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.39%
Return on Assets0.48%
Return on Equity4.86%
Interest Income$2.55 million
Rates
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Monson Savings Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.00%-$100kMoneyMaking Savings - Qualifying
0.35%$100k-Statement Savings
0.35%$100k-Savings IRA Accounts
0.35%$100k-Commercial Savings Accounts
0.10%--Passbook Savings
0.05%--MoneyMaking Savings - Non Qualifying

Monson Savings Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.51%-$25kMoneyMaking Checking - Qualifying
0.05%--MoneyMaking Checking - Non Qualifying
0.00%--Commercial Checking
0.00%--Small Business Checking
0.00%--Cash Back Checking
0.00%--Free Checking Account

Monson Savings Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.10%$1k-3 1/2 Year CD
1.00%$1k-3 Year CD
0.80%$1k-2 1/2 Year CD
0.75%$1k-2 Year CD
0.55%$1k-1 1/2 Year CD
0.45%$1k-1 Year CD
0.35%$1k-9 Month CD
0.30%$1k-6 Month CD
0.20%$1k-3 Month CD

Monson Savings Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.20%$1k-5 Year Variable IRA
1.00%$1k-3 Year IRA
1.00%$1k-3 Year Roth IRA
1.00%$1k-3 Year Educational IRA
0.80%$1k-2 and a half Year IRA
0.80%$1k-2 and a half Year Roth IRA
0.75%$1k-2 Year IRA
0.75%$1k-2 Year Educational IRA
0.75%$1k-2 Year Roth IRA
0.55%$1k-1 and a half Year IRA
0.55%$1k-1 and a half Year Roth IRA
0.45%$1k-1 Year IRA
0.45%$1k-1 Year Roth IRA
0.45%$1k-1 Year Educational IRA
0.35%$1k-9 Month IRA
0.30%$1k-6 Month IRA
0.30%$1k-6 Month Roth IRA
Locations


Monson Savings Bank Locations
Wilbraham Branch100 Post Office ParkWilbraham, MA 1095
Ware Branch136 West StreetWare, MA 1082
Monson Savings Bank146 Main StreetMonson, MA 1057
Hampden Branch15 Somers RoadHampden, MA 1036