First Ipswich Bank (MA) Adds Competitive 36-Month CD Special


Availability: Market area is Massachusetts’ North Shore and Cape Ann region.

This week, First Ipswich Bank added five CD Specials to its product line, and of those five CDs, the 36-Month CD Special (2.00% APY) is the most competitive. The minimum opening deposit is $5K, with no balance cap.

There is one caveat in the fine print:

Special Rates must be requested when a CD is opened or renewed.

As stated in First Ipswich Bank’s Certificate of Deposit Brochure, the Early Withdrawal Penalty reads as follow:

If the term of your account is greater than one year, the penalty will equal 180 days.


First Ipswich Bank’s market area is Massachusetts’ North Shore region (loosely defined as the coastal area between Boston and New Hampshire) and Cape Ann.

Opening an account at First Ipswich Bank can be done at any of five Massachusetts branches located in Essex, Ipswich, Gloucester, Newburyport, and Rowley. At this time, First Ipswich Bank’s online banking capabilities are limited to account management, bill payment services, and mobile banking.

Bank Overview

First Ipswich Bank has an overall health grade of "A" at, with a Texas ratio of 8.79% (excellent), based on June 30, 2015 data. In the past year, First Ipswich Bank has increased its total deposits by $34.52 Million, an excellent annual growth rate of 13.74% . Please refer to our financial overview of First Ipswich Bank for more details.

First Ipswich Bank (FDIC Certificate # 2595) was established in 1892 as The First National Bank of Ipswich. Not only has First Ipswich Bank been a successful local financial fixture for more than 120 years, it’s also weathered the not-so-good times. The Salem News reported in early September that,

As of June 2015, the bank had assets of $337 million, according to the FDIC. That’s up from $315 million at the same time last year, and in stark relief to the $250 million to $280 million range the bank’s assets had fallen to during a period of heavy restructuring in which multiple bank branches were closed and jobs slashed.

First Ipswich Bank is currently on an financial upward swing, with the flexibility and adaptability of a local, community-oriented bank.

How the CD Compares

When compared to the 322 similar length-of-term CDs tracked by, requiring a similar minimum deposit and available to Massachusetts residents, First Ipswich Bank’s 36-Month CD Special currently ranks first.

The above rates are accurate as of 9/25/2015.

To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of

Related Pages: First Ipswich Bank, Boston

5.25% 10-Month CD at a Massachusetts Bank
The First National Bank of Ipswich is offering a 5.25% APY 10-month certificate of deposit. The minimum is $1,000. The offer is good from 4/12 to 4/16 only. This special is not listed at the bank's website. It was advertised in today's Boston Globe. Credit for this find goes to scottj61 who reported on it in the finding deals post. Thanks!

First National Bank has branches in Massachusetts and New Hampshire.

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