Needham Bank is headquartered in Needham and is the 20th largest bank in the state of Massachusetts. It is also the 394th largest bank in the nation. It was established in 1892 and as of December of 2020, it had grown to 229 employees at 11 locations. Needham Bank has an A health rating.
Yesterday, I forwarded to a Needham Bank Service Representative with whom I do business, a copy of a 3-star review by a customer -- a real estate broker, as I recall -- who was critical of the bank's on-line banking program. Today, that review seems no longer to exist. I'd like to know if the review was withdrawn with the knowledge and assistance of the DepositAccounts website, and, if so, for what reason. I have come to rely on the impartiality and integrity of DepositAccounts for banking information and would like to believe that I can continue to do so.
My ratings of the Needham Bank constitute my true opinions.
I started using Needham Bank because in 2005 they started specializing in construction loans. They were one of the few local banks that started developing relationships with the builders. Since I work in real estate, it was a smart move to start banking where all the builders bank. Plus I live down the street. Over the past 12 years I feel like the bank expanded 10 fold. There is literally a branch on every corner. Their checking accounts are free, but I think thats common at every neighborhood bank. One of my biggest issues with them is the online website and user interface is still terrible. I miss the Bank of America interface that shows all my accounts on 1 screen, heck even Capital One banking allows me to see all my accounts on 1 screen and move money between them. Needham bank online screen almost looks like the old DOS format. Unappealing and difficult to use
Overall | |
---|---|
FDIC Certificate # | 26483 |
Year Established | 1892 |
Employees | 229 |
Primary Regulator | FED |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.56% |
Return on Equity - YTD | 4.75% |
Annual Interest Income | $96.2MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q4 2020vs Q4 2019 | $2.66B$2.45B |
Loans | Q4 2020vs Q4 2019 | $2.18B$2.06B |
Deposits | Q4 2020vs Q4 2019 | $2.21B$1.86B |
Equity Capital | Q4 2020vs Q4 2019 | $307.2MM$292.3MM |
Loan Loss Allowance | Q4 2020vs Q4 2019 | $19.8MM$15.2MM |
Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $25.9MM$14.2MM |
Real Estate Owned | Q4 2020vs Q4 2019 | $0$910.00K |
Always verify rates and promotions with the bank or credit union. We are not Needham 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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
0.10% | $10 | - | Statement Savings |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.10%* | $2.5k* | - | NB Checking | ||
OTHER TIERS: 0.05% → Up to $2.5k | |||||
0.05% | - | - | NB Business Interest Checking |
Ashland Branches | ||
---|---|---|
Ashland Branch | 41 Front Street | Ashland, MA 01721 |
Dedham Branches | ||
---|---|---|
Dedham Branch | 402 Washington Street | Dedham, MA 02026 |
Dover Branches | ||
---|---|---|
Dover Branch | 60 Centre St | Dover, MA 02030 |
Medfield Branches | ||
---|---|---|
Medfield Branch | 520 Main Street | Medfield, MA 02052 |
Millis Branches | ||
---|---|---|
Millis Branch | 857 Main St | Millis, MA 02054 |
Mission Hill Branches | ||
---|---|---|
Tremont Street Branch | 1457 Tremont Street | Mission Hill, MA 02120 |
Natick Branches | ||
---|---|---|
Natick Branch | 17 West Central St | Natick, MA 01760 |
Needham Branches | ||
---|---|---|
The Needham Bank | 1063 Great Plain Avenue | Needham, MA 02492 |
Wellesley Branches | ||
---|---|---|
Wellesley Branch | 458 Washington Street | Wellesley, MA 02482 |
Westwood Branches | ||
---|---|---|
Westwood Branch | 341 Washington Street | Westwood, MA 02090 |