Machias Savings Bank

Overview / Commentary
4 Center Street
Machias, ME 04654

Machias Savings Bank is headquartered in MACHIAS and is the 6th largest bank in the state of Maine. It is also the 482nd largest bank in the nation. It was established in 1869 and as of December of 2023, it had grown to 344 employees at 15 locations. Machias Savings Bank's savings rates are 8X the national average, and it has a B+ health rating.

Reviews (3)

amazing bank

I have a checking account with Machias here in Maine and it is the best bank I have every had. My little branch is great and the staff is so nice every time you go in. no matter what you need they try to help you. When I needed papers notarized it was free and the notary is always there and very friendly. When I first opened the account there was supposed to be a fee but I was so broke I could not afford it. They worked with me and waived it. The online access to the account is also super simple and very reliable. Just all around a great bank to be at.

Best Bank I've Ever Been With

Posted by: |

This little bank chain is only available in Maine, and they are amazing. When I opened my checking account, they waved all my fees and really helped me set it all up. I got my bank debit card that day right after I filled out the papers and got a very informative packet. Anytime I am in there and have a question or a problem, they take the time to actually help me. The way transfers are done is faster than I have seen it at other banks. I frequently get money transfers from EU, and with all other banks they take a week, at least. With Machias it's always 3 days, and it never fails. You can always reach them, and they always take time for you. They are absolutely amazing, and I will never go anywhere else.

Still Quality Hometown Banking Here

Posted by: |

I was initially ambivalent about this bank when our local branch was sold (again!) to them as part of a banking reorganization, but within weeks, I was very glad we had become part of the Machias Savings family. They maintained the local employees - many of whom were long-time employees; they have outstanding customer service available by phone or in person; they know us and treat us like valued members of their community. I've received excellent help when I have called with questions about our accounts or an issue. At one point, I walked into the branch with questions and a representative sat down with me immediately and spent time going over things very carefully with me. I also have had several contacts because they have quality fraud control, which means they pay close attention to the pattern of purchases and will call if they see anything of note. We have checking, savings, and a safe deposit box with our local branch - they are our go-to for all things financial! I would gladly recommend Machias Savings to friends and family. :)


Health Grade Components

FDIC Certificate #19531
Year Established1869
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.48%
Return on Equity - YTD5.05%
Annual Interest Income$112MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$2.48B$2.36B
LoansQ4 2023vs Q4 2022$1.98B$1.86B
DepositsQ4 2023vs Q4 2022$2.05B$1.97B
Equity CapitalQ4 2023vs Q4 2022$242.4MM$223.3MM
Loan Loss AllowanceQ4 2023vs Q4 2022$21MM$23.4MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$6MM$7MM
Real Estate OwnedQ4 2023vs Q4 2022$47K$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Machias Savings Bank Savings Account Rates

4.00%*$250k*-High Yield Savings
OTHER TIERS: 0.30% Up to $50k | 3.00% $50k - $100k | 3.50% $100k - $250k
4.00%*$250k*-High Yield Business Savings
OTHER TIERS: 0.30% Up to $50k | 3.00% $50k - $1m | 3.50% $100k - $250k
2.50%*$250k*-1031 Qualified Exchange
OTHER TIERS: 0.30% Up to $250k
0.60%*$100k*-Essential Business Fund
OTHER TIERS: 0.25% Up to $2.5k | 0.30% $2.5k - $25k | 0.45% $25k - $100k
0.45%*$25k*-Exceptional Business Savings
OTHER TIERS: 0.30% Up to $25k
0.30%$100-My MSB IRA Statement Savings
0.30%*$25k*-My MSB Health Savings Individual
OTHER TIERS: 0.20% Up to $25k
0.30%*$25k*-My MSB Health Savings Family
OTHER TIERS: 0.20% Up to $25k
0.30%*$25k*-My MSB Savings
OTHER TIERS: 0.20% Up to $25k
0.20%--My MSB Kid's Club Savings

Machias Savings Bank Money Market Rates

0.60%*$100k*-Business Essential Money Fund
OTHER TIERS: 0.25% Up to $2.5k | 0.30% $2.5k - $25k | 0.45% $25k - $100k
0.60%*$100k*-Essential Municipal Fund
OTHER TIERS: 0.25% Up to $2.5k | 0.30% $2.5k - $25k | 0.45% $25k - $100k
0.60%*$100k*-My MSB Money Fund
OTHER TIERS: 0.25% Up to $2.5k | 0.30% $25k - $100k | 0.45% $25k - $25k
0.25%$100k-ICS Money Fund

Machias Savings Bank Checking Account Rates

1.00%--IOLTA/RAHF Checking
0.20%$100k-ICS / DDM Checking
0.05%*$10k*$25kMy MSB Checking
OTHER TIERS: 0.03% Up to $10k
0.01%--Business Total Service with Interest Checking
0.01%--Total Service Municipal with Interest Checking
0.01%--Experienced Business Checking with Interest
0.01%--Experienced Municipal with Interest

Machias Savings Bank CD Rates

5.00%$500-7 Month CD Special
4.75%$500-15 Month CD Special
1.30%$500-60 Month CD
1.25%$500-48 Month CD
1.20%$500-36 Month CD
1.15%$500-24 Month CD
1.10%$500-18 Month CD
1.06%$100k-3 Year CDARS
1.01%$500-12 Month CD
1.01%$500-12 Month Health Savings Family CD
1.01%$500-12 Month Health Savings Individual CD
1.01%$100k-2 Year CDARS
0.85%$100k-52 Week CDARS
0.75%$500-6 Month CD
0.60%$100k-26 Week CDARS
0.50%$500-3 Month CD
0.45%$100k-4 Week CDARS
0.45%$100k-13 Week CDARS

Machias Savings Bank IRA Rates

5.00%$100-7 Month IRA Special
4.75%$100-15 Month IRA Special
1.30%$100-60 Month IRA
1.25%$100-48 Month IRA
1.20%$100-36 Month IRA
1.15%$100-24 Month IRA
1.10%$100-18 Month IRA
1.01%$100-12 Month IRA
0.75%$100-6 Month IRA
0.50%$100-3 Month IRA


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