Bay State Savings Bank is headquartered in Worcester and is the 83rd largest bank in the state of Massachusetts. It is also the 1,699th largest bank in the nation. It was established in 1895 and as of March of 2019, it had grown to 67 employees at 7 locations. Bay State Savings Bank's money market rates are 5X the national average, and it has an A health rating.
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Mortgage Department .....Mark Sanguinetti
In general, I find loan originators and loan officers have "can't do" attitudes and are far too cautious and require hours of chasing paper work. After some attempts to refinance my mortgage on my home and getting no where, I finally spoke with Mark Sanguinetti at Bay State Bank in Worcester, MA. We had conversation before I started the paper work and came up with an understanding of what was expected of me. His words were upheld with no " I need one more thing" routine. He is a man of his word with no nonsense. You can find him at 1-800-244-8161 and is readily available to contact without first going to voice mail.
I give Mark five stars.
Smile Worcester County Commercial Money Market
Unfortunately I called and tried to open a Smile Worcester County Commercial Money Market, but the bank requires business customers to open the account in-person at a bank branch. As I live out of state it's not a feasible option for me to visit a local bank branch :-\
Consumer accounts can be opened online however.
False Advertising
"we take banking personally" is their motto and it is a lie. This bank is as greedy as the rest, but pretends not to be. Mediocre customer service by phone. Mediocre service on location. Their lines don't always work correctly by phone leaving you unable to contact them during business hours. In person, they ignore the personal touch that they claim they have. If you're going to hand over your money to a greedy establishment, I suggest bringing it to a bank that doesn't pretend to care about you. At least you know you're screwed before it's too late. Bay State let's your guard down, then steals money. Do not open an account there. Maybe they do loans alright, but I wouldn't know and I won't find out. Pathetic bank.
48 Month CD Capped At 10K
Tried to open acct on line at Bay State Saving Bank and something popped up that I could not open that CD for more than $10K. Nowhere on their web site did they reveal this in advance
Data as of Q1 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 90311 |
| Year Established | 1895 |
| Employees | 67 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.62% |
| Return on Equity - YTD | 6.76% |
| Annual Interest Income | $4.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2019vs Q1 2018 | $418.7MM$406.4MM |
| Loans | Q1 2019vs Q1 2018 | $368.0MM$351.1MM |
| Deposits | Q1 2019vs Q1 2018 | $338.2MM$313.3MM |
| Equity Capital | Q1 2019vs Q1 2018 | $38.5MM$37.0MM |
| Loan Loss Allowance | Q1 2019vs Q1 2018 | $4.9MM$4.6MM |
| Unbacked Noncurrent Loans | Q1 2019vs Q1 2018 | $3.0MM$3.4MM |
| Real Estate Owned | Q1 2019vs Q1 2018 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Bay State Savings Bank; 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.
Bay State Savings Bank Savings Account Rates
Bay State Savings Bank Money Market Rates
Bay State Savings Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.01%* | - | $20k | Kasasa Cash | ||
| OTHER TIERS: 0.25% → $20k+ | |||||
| 0.10% | - | - | IOLTA Checking | ||
Bay State Savings Bank CD Rates
Bay State Savings Bank IRA Rates
| Bay State Savings Bank Locations | ||
|---|---|---|
| Minuteman Plaza Branch | 123 Auburn Street | Auburn, MA 01501 |
| Mill Street Branch | 275 Mill Street | Worcester, MA 01602 |
| Bay State Savings Bank | 28 Franklin Street | Worcester, MA 01608 |
| Burncoat Street Branch | 374-378 Burncoat Street | Worcester, MA 01606 |
| Holden Branch | 628 Main Street | Holden, MA 01520 |
| Grafton Street Branch | 799 Grafton Streeet | Worcester, MA 01608 |
| Auburn High School Branch | 99 Auburn Street | Auburn, MA 01501 |