Northern Bank

Overview / Commentary
275 Mishawum Road
Woburn, MA 01801

Northern Bank is headquartered in Woburn and is the 19th largest bank in the state of Massachusetts. It is also the 382nd largest bank in the nation. It was established in 1960 and as of June of 2020, it had grown to 226 employees at 14 locations. Northern Bank has an A+ health rating.

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2.50% Apy EXTENDED! - 12/23/2019

In this environment of rate cuts, I've called Northern Direct twice regarding what the interest rate will drop to after December 31, 2019. Today I was told by CSR Theresa that the promotional rate has been EXTENDED. She could not give me a date when it ends. I have also e-mailed the bank and if I get a different response I will post it here. My guess is that they do not want to see millions of dollars fly out the door at this moment.

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Health Grade Components

FDIC Certificate #18266
Year Established1960
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.71%
Return on Equity - YTD15.06%
Annual Interest Income$60.9MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$2.69B$2.15B
LoansQ2 2020vs Q2 2019$2.12B$1.89B
DepositsQ2 2020vs Q2 2019$2.17B$1.83B
Equity CapitalQ2 2020vs Q2 2019$283.8MM$245.3MM
Loan Loss AllowanceQ2 2020vs Q2 2019$32.1MM$25.6MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$4.4MM$11.1MM
Real Estate OwnedQ2 2020vs Q2 2019$0$192.00K
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Always verify rates and promotions with the bank or credit union. We are not Northern Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Northern Bank Savings Account Rates

0.60%--Northern Premium Savings - New Money
0.50%--Health Savings
0.20%*$5k*-Northern Business Investment Savings
OTHER TIERS: 0.15% Up to $5k
0.15%--Non-profit Statement Savings
0.15%--Northern True Savings

Northern Bank Money Market Rates

0.20%*$50k*-Money Market Investment
OTHER TIERS: 0.10% Up to $2.5k | 0.15% $2.5k - $50k
0.20%*$50k*-Northern Business Money Market
OTHER TIERS: 0.10% Up to $2.5k | 0.15% $2.5k - $50k

Northern Bank Checking Account Rates

0.20%*$5k*-Northern Premium Checking
OTHER TIERS: 0.05% $2.5k - $5k
0.05%--Northern Plus Checking
0.05%--Non-profit Interest Checking

Northern Bank CD Rates

0.55%$500-48 Month CD
0.55%$500-60 Month CD
0.55%$500-Business 48 Month CD
0.55%$500-Business 60 Month CD
0.50%$500-36 Month CD
0.50%$500-Business 36 Month CD
0.45%$500-24 Month CD
0.45%$500-30 Month CD
0.45%$500-Business 24 Month CD
0.45%$500-Business 30 Month CD
0.40%$500-18 Month CD
0.40%$500-Business 18 Month CD
0.35%$500-15 Month CD
0.35%$500-Business 15 Month CD
0.30%$500-6 Month CD
0.30%$500-12 Month CD
0.30%$500-Business 6 Month CD
0.30%$500-Business 12 Month CD
0.30%$500-9 Month CD
0.30%$500-Business 9 Month CD

Northern Bank IRA Rates

0.55%$500-48 Month IRA
0.55%$500-60 Month IRA
0.50%$500-36 Month IRA
0.45%$500-24 Month IRA
0.45%$500-30 Month IRA
0.40%$500-18 Month IRA
0.35%$500-15 Month IRA
0.30%$500-6 Month IRA
0.30%$500-12 Month IRA
0.30%$500-9 Month IRA


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