BankFive


Overview / Commentary
774-888-6100
79 North Main Street
Fall River, MA 02720

BankFive is headquartered in Fall River and is the 40th largest bank in the state of Massachusetts. It is also the 764th largest bank in the nation. It was established in 1855 and as of March of 2021, it had grown to 213 employees at 16 locations. BankFive has an A health rating.

Reviews (2)

An Ok Bank

This bank is mostly located in Southern MA.  I only use it basically because of its convience.  The bank is just like all the other banks in the area like Webster, Bank of America and so on.  The only down side is I dont consider them a big enough bank. 

ACH Services

My company provides a consulting service that we charge a monthly fee for, these fee's are deducted once a month. We signed up with Bank 5 for this service we have over 600 people we help and that pay us every month. Our business depends on our bank drafting service. Bank Five on December 31st writes us a letter telling us they are revoking our ACH account. That the termination is effective Jan 17th.
They couldn't even give us 30 days.
I am so upset right now this could ruin our business.

Dear Mr. Pepi,

BankFive conducts annual reviews of all companies who initiate ACH and/or Wire transactions using our Cash Management/Business Banking online system. After completing the most recent review of Strategic Transitions, a decision has been made by BankFive to revoke the ACH services for Strategic Transitions effective January 17, 2014. After this date, Strategic Transitions will no longer have the ability to initiate ACH transactions via BankFive’s Cash Management/Business Banking online system. In order to avoid a $50.00 fee, please return the security tokens used for approving ACH transactions to BankFive either in person by bringing them to any BankFive office, or mailing them to:



BankFive

Attn: Customer Contact Center

79 North Main Street

Fall River MA 02720



Health

Health Grade Components

Overall
FDIC Certificate #23286
Year Established1855
Employees213
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.18%
Return on Equity - YTD15.3%
Annual Interest Income$10.1MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$1.32B$1.11B
LoansQ1 2021vs Q1 2020$939.2MM$879.0MM
DepositsQ1 2021vs Q1 2020$1.16B$939.3MM
Equity CapitalQ1 2021vs Q1 2020$96.6MM$94.2MM
Loan Loss AllowanceQ1 2021vs Q1 2020$7.3MM$6.2MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$2.1MM$1.4MM
Real Estate OwnedQ1 2021vs Q1 2020$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not BankFive; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

BankFive Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%$10-eAccess Savings
0.10%$10-Nickels Savings Account
0.05%$100-Statement Savings
0.05%$10-Student Savings
0.05%$25-Lucky Piggy Savings

BankFive Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$50k*-Money Market Account
OTHER TIERS: 0.10% $100 - $50k
0.15%*$25k*-Business Money Market Account
OTHER TIERS: 0.05% $10+ | 0.10% $1k+

BankFive Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%$10-eAccess Checking
0.15%$100-Relationship Checking
0.05%$10-Basic Checking

BankFive CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$500-5 Year CD
0.50%$500-3 Year CD
0.45%$500-30 Month Bump-up CD
0.40%$100-2 Year Investment CD
0.35%$500-1 Year CD
0.35%$500-18 Month CD
0.35%$500-15 Month CD
0.25%$500-6 Month CD
Locations

Availability

Providence Area

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