Needham Bank is headquartered in Needham and is the 21st largest bank in the state of Massachusetts. It is also the 387th largest bank in the nation. It was established in 1892 and as of March of 2019, it had grown to 199 employees at 10 locations. Needham Bank has an A health rating.
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I See A 3-Star Review, Critical Of The Needham Bank On-Line Banking Site, Has Apparently Been Deleted!
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 I'd like to know if the review was withdrawn with the knowledge and assistance of the DepositAccounts website, and, if so, for what reason.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.
Needham Bank, a local branch on every street
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
Data as of Q1 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 26483 |
| Year Established | 1892 |
| Employees | 199 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.67% |
| Return on Equity - YTD | 5.31% |
| Annual Interest Income | $23.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2019vs Q1 2018 | $2.22B$2.10B |
| Loans | Q1 2019vs Q1 2018 | $1.91B$1.79B |
| Deposits | Q1 2019vs Q1 2018 | $1.62B$1.45B |
| Equity Capital | Q1 2019vs Q1 2018 | $279.3MM$261.4MM |
| Loan Loss Allowance | Q1 2019vs Q1 2018 | $14.2MM$13.6MM |
| Unbacked Noncurrent Loans | Q1 2019vs Q1 2018 | $18.7MM$17.4MM |
| Real Estate Owned | Q1 2019vs Q1 2018 | $1.5MM$0 |
Rates for Needham Bank are currently being reviewed.
| Needham Bank Locations | ||
|---|---|---|
| The Needham Bank | 1063 Great Plain Avenue | Needham, MA 02492 |
| Westwood Branch | 341 Washington Street | Westwood, MA 02090 |
| Dedham Branch | 402 Washington Street | Dedham, MA 02026 |
| Wellesley Branch | 458 Washington Street | Wellesley, MA 02482 |
| Medfield Branch | 520 Main Street | Medfield, MA 02052 |
| Ashland Branch | 41 Front Street | Ashland, MA 01721 |
| Dover Branch | 60 Centre St | Dover, MA 02030 |
| Natick Branch | 17 West Central St | Natick, MA 01760 |
| Millis Branch | 857 Main St | Millis, MA 02054 |