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Northern Bank


Overview / Commentary
www.nbtc.com
800-273-6908
275 Mishawum Road
Woburn, MA 01801

Northern Bank is headquartered in Woburn and is the 22nd largest bank in the state of Massachusetts. It is also the 408th largest bank in the nation. It was established in 1960 and as of September of 2019, it had grown to 218 employees at 14 locations. Northern Bank's CD rates are 39% higher than the national average, and it boasts 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
A+

Data as of Q3 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #18266
Year Established1960
Employees218
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.72%
Return on Equity - YTD15.65%
Annual Interest Income$89.1MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$2.15B$2.14B
LoansQ3 2019vs Q3 2018$1.89B$1.86B
DepositsQ3 2019vs Q3 2018$1.80B$1.86B
Equity CapitalQ3 2019vs Q3 2018$255.3MM$215.5MM
Loan Loss AllowanceQ3 2019vs Q3 2018$25.3MM$24.0MM
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$11.1MM$22.5MM
Real Estate OwnedQ3 2019vs Q3 2018$192.00K$602.00K
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

2.50% Apy EXTENDED!

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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.
14

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

Northern Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.75%$25-Northern Premium Savings - New Money
0.50%$25-Health Savings
0.35%*$100k*-Northern Business Investment Savings
OTHER TIERS: 0.15% → Up to $5k | 0.20% → $5k - $25k | 0.25% → $25k - $50k | 0.30% → $50k - $100k
0.15%--Non-profit Statement Savings
0.15%$25-Northern True Savings

Northern Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$250k*-Money Market Investment
OTHER TIERS: 0.15% → Up to $2.5k | 0.20% → $2.5k - $50k | 0.35% → $50k - $250k
0.50%*$250k*-Northern Business Money Market
OTHER TIERS: 0.15% → Up to $2.5k | 0.20% → $2.5k - $50k | 0.35% → $50k - $250k

Northern Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$10k*-Northern Premium Checking
OTHER TIERS: 0.05% → $2.5k - $5k | 0.25% → $5k - $10k
0.05%--Northern Plus Checking
0.05%--Non-profit Interest Checking

Northern Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%$500-60 Month CD
1.70%$500-Business 60 Month CD
1.60%$500-48 Month CD
1.60%$500-Business 48 Month CD
1.50%$500-36 Month CD
1.50%$500-Business 36 Month CD
1.45%$500-30 Month CD
1.45%$500-Business 30 Month CD
1.40%$500-24 Month CD
1.40%$500-Business 24 Month CD
1.35%$500-18 Month CD
1.35%$500-Business 18 Month CD
1.30%$500-15 Month CD
1.30%$500-Business 15 Month CD
1.25%$500-12 Month CD
1.25%$500-Business 12 Month CD
1.10%$500-6 Month CD
1.10%$500-Business 6 Month CD

Northern Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%$500-60 Month IRA
1.60%$500-48 Month IRA
1.50%$500-36 Month IRA
1.45%$500-30 Month IRA
1.40%$500-24 Month IRA
1.35%$500-18 Month IRA
1.30%$500-15 Month IRA
1.25%$500-12 Month IRA
1.10%$500-6 Month IRA
Locations

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