MutualOne Bank is headquartered in Framingham and is the 50th largest bank in the state of Massachusetts. It is also the 995th largest bank in the nation. It was established in 1889 and as of March of 2017, it had grown to 83 employees at 3 locations. MutualOne Bank has an A health rating.
Mutual One Bank has gone through some revisions. Until a couple years ago it was a two branch bank in my town. I loved it because you get to know people, and if you don't have your ID, it's no big deal. They have fairly decent CD rates. If you deposit a local check, it's available the next day. If they have a problem, they call you and give you a chance to make things right before hitting you with a hefty fee for something that's not even your fault. It recently merged with two local banks from a neighboring town, and changed names, but the service is still the same. They give you free money orders if you withdraw from your account, even if you don't, if they know you have an account they will give it to you for free, whereas larger banks charge up to $5. Customer Service is friendly, and accommodating. They're online service is very good, and they recently changed platforms so you no longer need to have a funky user name or password. In addition to free candy at the teller windows, which changes with the season, they also have a coffee station, and a popcorn machine. This is a very good, fun local bank.
|FDIC Certificate #||26395|
|Return on Assets - YTD||1.19%|
|Return on Equity - YTD||6.65%|
|Annual Interest Income||$8.1MM|
|Assets and Liabilities|
|Assets||Q1 2017vs Q1 2016||$753.8MM$684.2MM|
|Loans||Q1 2017vs Q1 2016||$610.7MM$550.6MM|
|Deposits||Q1 2017vs Q1 2016||$584.1MM$536.9MM|
|Equity Capital||Q1 2017vs Q1 2016||$133.3MM$126.1MM|
|Loan Loss Allowance||Q1 2017vs Q1 2016||$10.0MM$8.6MM|
|Unbacked Noncurrent Loans||Q1 2017vs Q1 2016||$4.6MM$9.7MM|
|Real Estate Owned||Q1 2017vs Q1 2016||$4.6MM$179.00K|
Rates for MutualOne Bank are currently being reviewed.
|MutualOne Bank Locations|
|Natick Federal Savings Bank Branch||49 Main Street||Natick, MA 01760|
|Mutualone Bank||828 Concord Street||Framingham, MA 01701|
|Lincoln Street Branch||One Lincoln Street||Framingham, MA 01701|