Northern Bank


Overview / Commentary
781-937-5400
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 405th largest bank in the nation. It was established in 1960 and as of June of 2022, it had grown to 239 employees at 15 locations. Northern Bank has an A health rating.

Reviews (1)

Moderate Interest Rates On MMDA

Posted by: |

For most of us their account here will be the interest-bearing checkable savings account. The usual few checks/month. And printing the checks from the bank is EXPENSIVE--just had done for $1 per check and deposit slip. At this time, it pays about 1/3 the interest that can be received elsewhere from safe accounts. Still higher than your average credit union. Customer service is acceptable--sometimes with delay and just going through the motions and others nicely done. The usual phone verification extra step delays things.



Health

Health Grade Components

Overall
FDIC Certificate #18266
Year Established1960
Employees239
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.43%
Return on Equity - YTD18.11%
Annual Interest Income$69.9MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$2.79B$2.56B
LoansQ2 2022vs Q2 2021$2.35B$2.20B
DepositsQ2 2022vs Q2 2021$2.32B$2.17B
Equity CapitalQ2 2022vs Q2 2021$388.3MM$336.0MM
Loan Loss AllowanceQ2 2022vs Q2 2021$40.4MM$39.1MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$20.4MM$18.4MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
Rates

Rates for Northern Bank are currently being reviewed.

Locations

Availability



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