East Boston Savings Bank is headquartered in Boston and is the 6th largest bank in the state of Massachusetts. It is also the 206th largest bank in the nation. It was established in 1991 and as of September of 2020, it had grown to 472 employees at 43 locations. East Boston Savings Bank has an A+ health rating.
I opened the Special MM3 account in Feb. 2017 primarily for the favorable rate of 1.25% and that amounts over $250K were also insured, Unfortunately the rate has decreased serially to 1.21% and currently 1.17%. Interest is compounded and credited monthly so there is risk of losing accrued interest if the account is closed mid cycle, I will keep a close eye on this since they are presently only paying a rate of .73% on their regular MM.
Terrible little shady "bank" - stole my $25, penalizing me for closing the account. They claim I closed it before 180 days of opening the account and it was in the disclosure - must be in fine print on page 45 or something. Rep. Taylor from Milton office had no decision making abilities and Christina, AVP of Customer Service was not willing to refund $25 back to me, the fee for closing the account. VERY CONFRONTATIONAL BANK doing shady business, in my personal opinion.
Overall | |
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FDIC Certificate # | 33510 |
Year Established | 1991 |
Employees | 472 |
Primary Regulator | FDIC |
Profit Margin | |
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Return on Assets - YTD | 0.98% |
Return on Equity - YTD | 9% |
Annual Interest Income | $192.2MM |
Assets and Liabilities | ||
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Assets | Q3 2020vs Q3 2019 | $6.57B$6.35B |
Loans | Q3 2020vs Q3 2019 | $5.60B$5.70B |
Deposits | Q3 2020vs Q3 2019 | $4.97B$4.98B |
Equity Capital | Q3 2020vs Q3 2019 | $716.7MM$664.8MM |
Loan Loss Allowance | Q3 2020vs Q3 2019 | $67.6MM$50.8MM |
Unbacked Noncurrent Loans | Q3 2020vs Q3 2019 | $2.9MM$3.3MM |
Real Estate Owned | Q3 2020vs Q3 2019 | $0$0 |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.