Primary Bank


Overview / Commentary
603-310-7200
207 Route 101
Bedford, NH 03110

Primary Bank is headquartered in Bedford and is the 10th largest bank in the state of New Hampshire. It is also the 1,533rd largest bank in the nation. It was established in 2015 and as of September of 2020, it had grown to 41 employees at 3 locations. Primary Bank's money market rates are 59% higher than the national average, and it has an A health rating.

Reviews (3)

Primary Bank Derry Branch

Posted by: |

Very happy with our banking experience as a new customer entire staff was very customer service team making sure all our questions were answered and made our opening accounts very easy . Great Local bank that is customer driven to provide you the bast service and competitive savings products and rates.

Primary Bank - Opening A CD Account

Posted by: |

Just finished opening a new, 3 yr. CD with them. The application process was smooth and very thorough. Good communication from them along the way, except no final communication that the account was open and how to enroll online. Account status did say approved, but I didn't know what to do next.

The account website interface is a standard netteller.com format, now becoming the standard of most banks offering online CD's.

It seemed like the final online enrollment after the CD was approved was very redundant to what I went through to apply. It was like I was starting over on all of the security stuff. I would hope that could be streamlined.

Overall, pretty good. Probably one of the better processes I've been though in many years!

NO ACH Transfer Choice Online Upon CD Maturity

Posted by: |

Recently opened two CDs at this bank. As previous reviewer noted, online application process is smooth. However, they want you to go through the whole data entry process again to create the online account. (Application is different from online account creation! They don't automatically create an online account as part of the application process. Waste of time and resources!) Also, quite high early withdrawal penalties. (6 months of interest for a 12-month CD!) And, finally, they do NOT have ACH/electronic transfer choice online when CD matures. You have to call the customer service to initiate the transfer or get a paper check. This is quite primitive! I was informed that the bank is small, and doesn't have fancy online portal. Well, this feature is not at all complicated to add through online banking. (They already make you link an external account to electronically fund your CD! Why can't they allow the customer to manage the outbound transfer to this externally-linked account??) In any event, the overall application process (including verification of two micro deposits) was quite smooth and secure. Hope the bank will make its online experience a bit more "advanced"!



Health

Health Grade Components

Overall
FDIC Certificate #59086
Year Established2015
Employees41
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.58%
Return on Equity - YTD5.54%
Annual Interest Income$11.9MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$532.0MM$263.7MM
LoansQ3 2020vs Q3 2019$442.2MM$211.9MM
DepositsQ3 2020vs Q3 2019$457.9MM$234.1MM
Equity CapitalQ3 2020vs Q3 2019$51.2MM$28.8MM
Loan Loss AllowanceQ3 2020vs Q3 2019$4.0MM$2.6MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$3.6MM$2.5MM
Real Estate OwnedQ3 2020vs Q3 2019$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Primary Bank; we are a rate comparison website and cannot provide official rates or promotions.

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

Primary Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$25k*-Health Savings Account
OTHER TIERS: 0.10% Up to $2.5k | 0.20% $2.5k - $10k | 0.30% $10k - $25k
0.10%--Primary Business Statement Savings
0.10%--Primary Statement Savings

Primary Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.70%--Choice Money Market
0.70%--Choice Business Money Market
0.35%*$100k*-Primary Business Money Market
OTHER TIERS: 0.10% $2.5k - $10k | 0.20% $10k - $25k | 0.30% $25k - $100k
0.35%*$100k*-Primary Money Market
OTHER TIERS: 0.10% $1k - $10k | 0.20% $10k - $25k | 0.30% $25k - $100k

Primary Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$1k-Primary Interest Checking
0.05%$1k-Primary Plus Checking
0.05%--IOLTA Account

Primary Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.30%--Business 5 Year CD
1.30%$1k-5 Year CD
1.20%$1k-4 Year CD
1.20%--Business 4 Year CD
1.00%--Business 3 Year CD
1.00%$1k-3 Year CD
0.90%$1k-2 Year CD
0.90%--Business 2 Year CD
0.85%--Business 18 Month CD
0.85%$1k-18 Month CD
0.85%$10k-15 Month CD
0.85%$10k-Business 15 Month CD
0.80%--Business 12 Month CD
0.80%$1k-12 Month CD
0.45%--Business 6 Month CD
0.45%$1k-6 Month CD

Primary Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.30%$1k-5 Year IRA
1.20%$1k-4 Year IRA
1.00%$1k-3 Year IRA
0.90%$1k-2 Year IRA
0.85%$1k-18 Month IRA
0.85%$10k-15 Month IRA
0.80%$1k-12 Month IRA
0.45%$1k-6 Month IRA
Locations


Primary Bank Locations
Primary Bank207 Route 101Bedford, NH 03110
Primary Bank - Mancester North1662 Elm StreetManchester, NH 03101
Derry Branch Office23 Crystal AvenueDerry, NH 03038

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