Northern Bank is headquartered in WOBURN and is the 17th largest bank in the state of Massachusetts. It is also the 397th largest bank in the nation. It was established in 1960 and as of March of 2025, it had grown to 256 employees at 14 locations. Northern Bank has a B+ health rating.
Moderate Interest Rates On MMDA
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.
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 18266 |
| Year Established | 1960 |
| Employees | 256 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.63% |
| Return on Equity - YTD | 11.2% |
| Annual Interest Income | $62.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $3.13B$3.23B |
| Loans | Q1 2025vs Q1 2024 | $2.67B$2.75B |
| Deposits | Q1 2025vs Q1 2024 | $2.6B$2.69B |
| Equity Capital | Q1 2025vs Q1 2024 | $464.5MM$441.5MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $63.6MM$51.4MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $66.4MM$44.9MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $6MM$10.1MM |
