Northfield Savings Bank is headquartered in Northfield and is the 2nd largest bank in the state of Vermont. It is also the 891st largest bank in the nation. It was established in 1867 and as of December of 2013, it had grown to 141 employees at 13 locations. Northfield Savings Bank has a A+ health rating.
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Nice Folks, But Not So On Top Of, Well, Anything
The people at NSB are super nice, cordial, and downright friendly. Great aspects of customer service, however, I'm quite disappointed in the follow through and service I've received in the past 20 months of being a customer. My accounts were completely backwards when I opened them (I received checks with both of our names on the individual account I opened for myself, and no debit cards to either, although my husband received one, but we didn't request one for him). When the automatic roll over protection was offered, everything got screwed up again, and it took a minimum of 5 calls on two separate accounts to correct the issue. Again, everyone has been very nice and accommodating, but it feels like there is zero follow through on just about any request. Last week I visited my local branch on my lunch break to inquire about opening a savings account for some gift funds we received toward the purchase of a new home. I was in a hurry, and advised that they would set up the account for me "because we have everything we need on file - you just need to come in and sign and make your deposit - we'll call you when it's all set up." I'm betting when I walk through the door tomorrow to complain, no one will have a clue what I'm talking about.
Probably going to be changing institutions at that point.
Data for Q4 2013
Institution Health
Texas Ratio
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 Northfield Savings Bank had $3.34 million in non-current loans and owned real-estate with $97.8 million in equity and loan loss allowances on hand to cover it. This gives Northfield Savings Bank a Texas Ratio of 3.42% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Northfield Savings Bank experienced no significant changes from 3.72% as of December 31, 2012 to 3.42% as of December 31, 2013, resulting in a positive change of 7.95%.This indicates that the balance sheet and financial strength for Northfield Savings Bank has had no significant changes in recent periods.
Deposit Growth
In the past year, Northfield Savings Bank has increased its total deposits by $8.71 million, resulting in 1.68% 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 Northfield Savings Bank has shown is above average.
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. Northfield Savings Bank has $754.71 million in assets with $97.8 million in equity, resulting in a capitalization level of 12.96%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 14140 |
| Year Established | 1867 |
| Employees | 141 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $754.71 million |
| Loans | $511.51 million |
| Deposits | $527.45 million |
| Equity Capital | $91.79 million |
| Loan Loss Allowance | $6.01 million |
| Unbacked Noncurrent Loans | $3.35 million |
| Real Estate Owned | $0 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $731.34 million |
| Equity Capital | $92.54 million |
| Loan Loss Allowance | $5.99 million |
| Unbacked Noncurrent Loans | $3.35 million |
| Real Estate Owned | $26,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.23% |
| Return on Assets | 0.73% |
| Return on Equity | 5.95% |
| Interest Income | $25.99 million |
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Northfield Savings Bank Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | - | - | Health Savings Account | |
| 0.20% | $50k | - | Business Savings | |
| 0.05% | - | - | Regular Savings | |
| 0.05% | - | - | Club Savings | |
| 0.05% | - | - | Wings Youth Savings |
Northfield Savings Bank Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | $50k | - | Mega Money Market Checking | |
| 0.20% | $50k | - | Commercial Money Market Checking | |
| 0.20% | $50k | - | Money Market Savings |
Northfield Savings Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $100k | - | Organizational Omni | |
| 0.05% | $500 | - | Super NOW Checking | |
| 0.05% | $500 | - | Super NOW Business Checking |
Northfield Savings Bank CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.20% | $1k | - | 60 Month CD | |
| 1.01% | $1k | - | 48 Month CD | |
| 0.75% | $1k | - | 36 Month CD | |
| 0.65% | $1k | - | 24 Month CD | |
| 0.40% | $1k | - | 10 Month CD | |
| 0.30% | $1k | - | 12 Month Rollover CD | |
| 0.30% | $1k | - | 12 Month CD | |
| 0.20% | $1k | - | 12 Month No Penalty CD | |
| 0.20% | $1k | - | 6 Month CD | |
| 0.10% | $1k | - | 3 Month CD |
Northfield Savings Bank IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.20% | - | - | 60 Month IRA (Traditional,Roth) | |
| 1.01% | $50 | - | 48 Month IRA (Traditional,Roth) | |
| 0.75% | - | - | 36 Month IRA (Traditional,Roth) | |
| 0.65% | - | - | 24 Month IRA (Traditional,Roth) | |
| 0.30% | - | - | 12 Month IRA (Traditional,Roth) | |
| 0.30% | - | - | 12 Month Rollover IRA (Traditional,Roth) | |
| 0.20% | - | - | 6 Month IRA (Traditional,Roth) |
Northfield Savings Bank has 13 locations. Click to view all Northfield Savings Bank locations.