Primary Bank is headquartered in Bedford and is the 10th largest bank in the state of New Hampshire. It is also the 1,585th largest bank in the nation. It was established in 2015 and as of June of 2020, it had grown to 40 employees at 3 locations. Primary Bank's money market rates are 93% higher than the national average, and it boasts an A+ health rating.
Primary Bank - Opening A CD Account
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!
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 59086 |
| Year Established | 2015 |
| Employees | 40 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.41% |
| Return on Equity - YTD | 3.77% |
| Annual Interest Income | $7.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $508.6MM$255.6MM |
| Loans | Q2 2020vs Q2 2019 | $419.0MM$201.6MM |
| Deposits | Q2 2020vs Q2 2019 | $416.7MM$226.8MM |
| Equity Capital | Q2 2020vs Q2 2019 | $49.4MM$28.1MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $3.6MM$2.5MM |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $0$1.6MM |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |