Needham Bank is headquartered in NEEDHAM and is the 12th largest bank in the state of Massachusetts. It is also the 289th largest bank in the nation. It was established in 1892 and as of December of 2024, it had grown to 376 employees at 12 locations. Needham Bank's CD rates are 5X the national average, and it boasts an A+ health rating.
There Are Lots Of Banks. Choose Another, Not This One.
I had a personal checking account and a business account. All went well until I sent a polite letter pointing out that it is improper, and not good practice, to make online passwords expire. Why should they, if they are perfectly good and uncompromised? Nor is it proper to prevent me from seeing the new password as I type it (twice). Did I mention that this was a polite letter? I was only trying to be helpful.
A week later, I got two certified letters cancelling both of my accounts.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 26483 |
| Year Established | 1892 |
| Employees | 376 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.73% |
| Return on Equity - YTD | 5.82% |
| Annual Interest Income | $285.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $5.01B$4.39B |
| Loans | Q4 2024vs Q4 2023 | $4.29B$3.86B |
| Deposits | Q4 2024vs Q4 2023 | $4.18B$3.44B |
| Equity Capital | Q4 2024vs Q4 2023 | $606.8MM$576.5MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $38.7MM$32.2MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $13.9MM$10.8MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |
