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 416th largest bank in the nation. It was established in 1960 and as of March of 2022, it had grown to 229 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 Grade Components

FDIC Certificate #18266
Year Established1960
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.4%
Return on Equity - YTD18.19%
Annual Interest Income$34.1MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$2.77B$2.59B
LoansQ1 2022vs Q1 2021$2.29B$2.26B
DepositsQ1 2022vs Q1 2021$2.36B$2.16B
Equity CapitalQ1 2022vs Q1 2021$378.3MM$320.9MM
Loan Loss AllowanceQ1 2022vs Q1 2021$41.5MM$37.8MM
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$31.9MM$14.4MM
Real Estate OwnedQ1 2022vs Q1 2021$0$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

0.35%--Northern Premium Savings - New Money
0.10%*$5k*-Northern Business Investment Savings
OTHER TIERS: 0.05% Up to $5k
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

0.10%*$2.5k*-Money Market Investment
OTHER TIERS: 0.05% Up to $2.5k
0.10%*$2.5k*-Northern Business Money Market
OTHER TIERS: 0.05% Up to $2.5k
0.10%*$2.5k*-Municipal Money Market
OTHER TIERS: 0.05% Up to $2.5k

Northern Bank Checking Account Rates

0.96%--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

0.40%$500-18 Month CD
0.40%$500-24 Month CD
0.40%$500-30 Month CD
0.40%$500-36 Month CD
0.40%$500-48 Month CD
0.40%$500-60 Month CD
0.40%$500-Business 18 Month CD
0.40%$500-Business 24 Month CD
0.40%$500-Business 30 Month CD
0.40%$500-Business 36 Month CD
0.40%$500-Business 48 Month CD
0.40%$500-Business 60 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

0.40%$500-18 Month IRA
0.40%$500-24 Month IRA
0.40%$500-30 Month IRA
0.40%$500-36 Month IRA
0.40%$500-48 Month IRA
0.40%$500-60 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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