Norwood Bank

Overview / Commentary

781-762-1800

11 Central Street
Norwood, MA 02062

From the Bank

Since its founding in 1889, Norwood Bank has been a pioneer in providing innovative banking services. We take pride in offering people and businesses the services they needed to fulfill their dreams of buying a home, creating financial stability and planning for the future. Over the years, Norwood Bank created new checking, savings, retirement, mortgage and investment products to help people and businesses meet their financial goals.

As banking technology grew more sophisticated, the Bank introduced the concept of Boundless Banking. Powered by a national network of fee-free ATMs and the latest in mobile and online banking, Boundless is an illustration of the Bank’s commitment to giving their customers the freedom to bank however, and wherever, they choose.

Big-bank products and services combined with community-bank personal service—that’s the Norwood Bank difference.

View all posts from:

2016
2015

11/5 - Norwood Bank (MA) Raises 16-Month CD Special Rate
3/4 - Norwood Bank (MA) Raises Rate On 16-Month CD Special

6/15 - Norwood Bank (MA) Introduces Competitive 16-month CD Special

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Health

Data as of Q2 2022

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Health Grade Components

Overall
FDIC Certificate #	26555
Year Established	1889
Employees	54
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.95%
Return on Equity - YTD	7.06%
Annual Interest Income	$11.9MM

Assets and Liabilities
Assets	Q2 2022vs Q2 2021	$669.6MM$683.7MM
Loans	Q2 2022vs Q2 2021	$556.1MM$504.2MM
Deposits	Q2 2022vs Q2 2021	$558.1MM$567.8MM
Equity Capital	Q2 2022vs Q2 2021	$96.2MM$90.0MM
Loan Loss Allowance	Q2 2022vs Q2 2021	$5.4MM$5.4MM
Unbacked Noncurrent Loans	Q2 2022vs Q2 2021	$1.2MM$2.3MM
Real Estate Owned	Q2 2022vs Q2 2021	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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

Norwood Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%	-	-	Personal Statement Savings Account
0.10%	-	-	Non-Personal Statement Savings Account
0.10%	-	-	iBoundless Savings Account

Norwood Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
1.26%^*	$50k^*	-	High Yield Money Market Account - New Money
OTHER TIERS: 1.11% → Up to $10k \| 1.16% → $10k - $25k \| 1.21% → $25k - $50k
1.26%^*	$50k^*	-	iYield Money Market - New Money
OTHER TIERS: 1.11% → Up to $10k \| 1.16% → $10k - $25k \| 1.21% → $25k - $50k

Norwood Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%^*	$100k^*	-	Advantage Checking
OTHER TIERS: 0.05% → Up to $100k
0.10%^*	$100k^*	-	Non-Personal Advantage Checking
OTHER TIERS: 0.05% → Up to $100k

Norwood Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
2.79%	$1k	-	17 Month iCertificate
2.53%	$1k	-	7 Month iCertificate
2.02%	$1k	-	22 Month iCertificate
1.77%	$1k	-	60 Month Regular CD
1.77%	$1k	-	60 Month Non-Personal CD
1.51%	$1k	-	36 Month Regular CD
1.51%	$1k	-	48 Month Regular CD
1.51%	$1k	-	36 Month Non-Personal CD
1.51%	$1k	-	48 Month Non-Personal CD
1.26%	$1k	-	24 Month Regular CD
1.26%	$1k	-	24 Month Non-Personal CD
1.16%	$1k	-	13 Month iCertificate
0.75%	$1k	-	12 Month Regular CD
0.75%	$1k	-	12 Month Non-Personal CD
0.50%	$2.5k	-	6 Month Regular CD
0.50%	$2.5k	-	6 Month Non-Personal CD
0.25%	$2.5k	-	3 Month Regular CD
0.25%	$2.5k	-	3 Month Non-Personal CD

Norwood Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.77%	$1k	-	60 Month Regular IRA
1.51%	$1k	-	36 Month Regular IRA
1.51%	$1k	-	48 Month Regular IRA
1.26%	$1k	-	24 Month Regular IRA
0.75%	$1k	-	12 Month Regular IRA
0.50%	$2.5k	-	6 Month Regular IRA
0.25%	$2.5k	-	3 Month Regular IRA

Locations

Norwood Bank Locations
Norwood Co-Operative Bank	11 Central St	Norwood, MA 02062

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