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 392nd largest bank in the nation. It was established in 1960 and as of June of 2023, it had grown to 239 employees at 15 locations. Northern Bank's savings rates are 8X the national average, and it has a C+ 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 Grade Components

FDIC Certificate #18266
Year Established1960
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.28%
Return on Equity - YTD15.77%
Annual Interest Income$89.1MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$2.99B$2.79B
LoansQ2 2023vs Q2 2022$2.54B$2.35B
DepositsQ2 2023vs Q2 2022$2.43B$2.32B
Equity CapitalQ2 2023vs Q2 2022$423.5MM$388.3MM
Loan Loss AllowanceQ2 2023vs Q2 2022$47.4MM$40.4MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$29.9MM$20.4MM
Real Estate OwnedQ2 2023vs Q2 2022$44.7MM$0
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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

4.25%--Northern Promotional Savings
4.25%--Business Northern Promotional Savings
0.35%--Northern Premium Savings - New Money
0.30%*$100k*-Northern Business Investment Savings
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $50k | 0.20% $50k - $100k
0.10%--Non-profit Statement Savings
0.10%--Health Savings
0.10%--Northern True Savings
0.10%--Master Escrow & Sub Accounts
0.10%--Municipal Statement Savings

Northern Bank Money Market Rates

3.50%*$250k*-Northern Money Market Premier Account Special
OTHER TIERS: 0.10% Up to $50k | 3.25% $50k - $100k | 3.35% $100k - $250k
3.50%*$250k*-Northern Business Money Market Premier Account Special
OTHER TIERS: 0.10% Up to $50k | 3.25% $50k - $100k | 3.35% $100k - $250k
0.20%*$250k*-Northern Money Market Account
OTHER TIERS: 0.05% Up to $2.5k | 0.10% $2.5k - $50k | 0.15% $50k - $250k
0.20%*$250k*-Northern Business Money Market
OTHER TIERS: 0.05% Up to $2.5k | 0.10% $2.5k - $50k | 0.15% $50k - $250k
0.20%*$250k*-Municipal Money Market
OTHER TIERS: 0.05% Up to $2.5k | 0.10% $2.5k - $50k | 0.15% $50k - $250k

Northern Bank Checking Account Rates

2.48%--IOLTA Interest Checking
0.10%*$5k*-Northern Premium Checking
OTHER TIERS: 0.05% $2.5k - $5k
0.05%--Northern Plus Checking
0.05%--Non-profit Interest Checking
0.05%--Municipal Interest Checking

Northern Bank CD Rates

5.00%$500-13 Month CD
5.00%$500-Business 13 Month CD
4.00%$500$250k10 Month CD Special - New Money
4.00%$500$250kBusiness 10 Month CD Special - New Money
3.75%$500$250k17 Month CD
3.75%$500$250kBusiness 17 Month CD
0.65%$500$250k36 Month CD
0.65%$500$250k48 Month CD
0.65%$500$250k60 Month CD
0.65%$500$250kBusiness 36 Month CD
0.65%$500$250kBusiness 48 Month CD
0.65%$500$250kBusiness 60 Month CD
0.60%$500$250k24 Month CD
0.60%$500$250k30 Month CD
0.60%$500$250kBusiness 24 Month CD
0.60%$500$250kBusiness 30 Month CD
0.55%$500$250k18 Month CD
0.55%$500$250kBusiness 18 Month CD
0.50%$500$250k12 Month CD
0.50%$500$250k15 Month CD
0.50%$500$250kBusiness 12 Month CD
0.50%$500$250kBusiness 15 Month CD
0.40%$500$250k6 Month CD
0.40%$500$250kBusiness 6 Month CD
0.40%$500$250k9 Month CD
0.40%$500$250kBusiness 9 Month CD

Northern Bank IRA Rates

5.00%$500-13 Month IRA
4.00%$500$250k10 Month IRA Special - New Money
3.75%$500$250k17 Month IRA
0.65%$500$250k36 Month IRA
0.65%$500$250k48 Month IRA
0.65%$500$250k60 Month IRA
0.60%$500$250k24 Month IRA
0.60%$500$250k30 Month IRA
0.55%$500$250k18 Month IRA
0.50%$500$250k12 Month IRA
0.50%$500$250k15 Month IRA
0.40%$500$250k6 Month IRA
0.40%$500$250k9 Month IRA


Boston Area

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