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Florence Bank


TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/2/2025
3.60%
Our Rating
4.3  / 5
American Express
American Express® High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/2/2025
3.80%
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to 3.80% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms apply. Member FDIC
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/2/2025
3.50%
Our Rating
4.4  / 5
Capital One
360 Performance Savings
See Offer
Sponsored Note: It only takes about 5 minutes to open a fee-free account. Member FDIC.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/2/2025
4.44%
Our Rating
4.3  / 5
Peak Bank
Envision High Yield Savings
See Offer
Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.
Member FDIC
Bonus Amount
up to $300
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Overview / Commentary
www.florencebank.com
413-586-1300
85 Main Street
Florence, MA 01062

Florence Bank is headquartered in FLORENCE and is the 29th largest bank in the state of Massachusetts. It is also the 597th largest bank in the nation. It was established in 1873 and as of March of 2025, it had grown to 214 employees at 13 locations. Florence Bank's CD rates are 67% higher than the national average, and it has an A health rating.

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Health
A

Data as of Q1 2025

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #23293
Year Established1873
Employees214
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.54%
Return on Equity - YTD5.62%
Annual Interest Income$18.1MM
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$1.97B$2.12B
LoansQ1 2025vs Q1 2024$1.18B$1.14B
DepositsQ1 2025vs Q1 2024$1.71B$1.66B
Equity CapitalQ1 2025vs Q1 2024$194.3MM$174.9MM
Loan Loss AllowanceQ1 2025vs Q1 2024$7.1MM$6.8MM
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$3.7MM$3.6MM
Real Estate OwnedQ1 2025vs Q1 2024$0$0
TODAY'S FEATURED RATES
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/2/2025
3.60%
Our Rating
4.3  / 5
American Express
American Express® High Yield Savings Account
See Offer
Sponsored Note: Interest compounds daily, deposited monthly
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/2/2025
3.80%
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to 3.80% APY and up to $300 with direct deposit. Members can unlock our highest savings rate with direct deposit OR by depositing $5,000 or more every 30 days. Terms apply. Member FDIC
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/2/2025
3.50%
Our Rating
4.4  / 5
Capital One
360 Performance Savings
See Offer
Sponsored Note: It only takes about 5 minutes to open a fee-free account. Member FDIC.
Member FDIC
APY APY = Annual Percentage Yield Rates as of 7/2/2025
4.44%
Our Rating
4.3  / 5
Peak Bank
Envision High Yield Savings
See Offer
Sponsored Note: Member FDIC: Insured up to $250,000. $100 Deposit Earns Interest Immediately.
Member FDIC
Bonus Amount
up to $300
Our Rating
4.2  / 5
SoFi® Bank, N.A.
SoFi Checking and Savings
See Offer
Sponsored Note: Earn up to $300 with direct deposit, plus 2-day-early-pay. FDIC insured!
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Florence Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$1-School Savings
0.05%$10-EZ Savings
0.05%$10-Club Account
0.05%$10-Client Escrow Savings
0.05%$10-Passbook Savings
0.05%$10-Statement Savings
0.05%$10-Security Deposit Account
0.05%$10-Business Statement Savings

Florence Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$100k*-Performance Money Market
OTHER TIERS: 0.05% → $10 - $10k | 0.15% → $10k - $25k | 0.20% → $25k - $50k | 0.30% → $50k - $100k
0.40%*$500k*-Business Money Market
OTHER TIERS: 0.15% → $10 - $25k | 0.20% → $25k - $100k | 0.30% → $100k - $500k
0.15%*$1k*-Money Market Deposit Account
OTHER TIERS: 0.05% → $10 - $1k

Florence Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.48%$10-IOLTA Checking
0.25%$0$25kRewards Checking

Florence Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.85%$500$1m10 Month CD
3.85%$500$1mBusiness 10 Month CD
3.25%$500$1m16 Month CD
3.25%$500$1mBusiness 16 Month CD
3.15%$500$1m7 Month Easy-Out CD
3.15%$500$1mBusiness 7 Month Easy-Out CD
3.00%$500$1m36 Month CD
3.00%$500$1m48 Month CD
3.00%$500$1mBusiness 36 Month CD
3.00%$500$1mBusiness 48 Month CD
3.00%$500$1m60 Month CD
3.00%$500$1mBusiness 60 Month CD
2.15%$500$1m24 Month CD
2.15%$500$1mBusiness 24 Month CD
1.50%$500$1m6 Month CD
1.50%$500$1m12 Month CD
1.50%$500$1mBusiness 6 Month CD
1.50%$500$1mBusiness 12 Month CD
1.00%$500$1m3 Month CD
1.00%$500$1mBusiness 3 Month CD
0.35%$500$1m30 Month CD
0.35%$500$1mBusiness 30 Month CD
0.20%$500$1m18 Month CD
0.20%$500$1mBusiness 18 Month CD
0.15%$500$1m17 Month Easy-Out CD
0.15%$500$1mBusiness 17 Month Easy-Out CD

Florence Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.85%$500$1m10 Month IRA
3.25%$500$1m16 Month IRA
3.00%$500$1m36 Month IRA
3.00%$500$1m60 Month IRA
3.00%$500$1m48 Month IRA
2.15%$500$1m24 Month IRA
1.50%$500$1m12 Month IRA
1.50%$500$1m6 Month IRA
0.35%$500$1m30 Month IRA
0.20%$500$1m18 Month IRA
0.05%$10-Variable IRA Savings
Locations

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