Needham Bank

Overview / Commentary

www.needhambank.com

781-444-2100

1063 Great Plain Avenue
Needham, MA 02492

Needham Bank is headquartered in Needham and is the 19^th largest bank in the state of Massachusetts. It is also the 363^rd largest bank in the nation. It was established in 1892 and as of December of 2019, it had grown to 207 employees at 10 locations. Needham Bank has an A+ health rating.

View all posts from:

2016
2015
2008
Earlier

3/15 - Needham Bank (MA) Introduces 15-Month CD Special

3/4 - Needham Bank (MA) Raises Rate On 13-Month CD To Competitive Level

11/11 - 4.05% 9-Month CD at Needham Bank in Massachusetts

12/31/07 - 5.50% 12-Month CD at a Massachusetts Bank (Needham Cooperative) - EXPIRED
5/31/06 - 5.50% 12-Month CD at a Massachusetts Bank

Reviews (2)

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I See A 3-Star Review, Critical Of The Needham Bank On-Line Banking Site, Has Apparently Been Deleted!

Posted by: joesmith3000 | Aug 15, 2017

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 I'd like to know if the review was withdrawn with the knowledge and assistance of the DepositAccounts website, and, if so, for what reason.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.

Comment

Needham Bank, a local branch on every street

Posted by: tanyaclarke | Aug 13, 2017

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

Comment

Health

A+

Data as of Q4 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	26483
Year Established	1892
Employees	207
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	0.7%
Return on Equity - YTD	5.65%
Annual Interest Income	$97.3MM

Assets and Liabilities
Assets	Q4 2019vs Q4 2018	$2.45B$2.17B
Loans	Q4 2019vs Q4 2018	$2.06B$1.86B
Deposits	Q4 2019vs Q4 2018	$1.86B$1.50B
Equity Capital	Q4 2019vs Q4 2018	$292.3MM$273.8MM
Loan Loss Allowance	Q4 2019vs Q4 2018	$15.2MM$13.6MM
Unbacked Noncurrent Loans	Q4 2019vs Q4 2018	$14.2MM$17.8MM
Real Estate Owned	Q4 2019vs Q4 2018	$910.00K$1.5MM

Rates

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Savings
Money Market
Checking
CD
IRA

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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.

Needham Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.10%	$10	-	Statement Savings

Needham Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.40%^*	$100k^*	$1m	Money Market Account
OTHER TIERS: 0.25% → Up to $25k \| 0.30% → $25k - $50k \| 0.35% → $50k - $100k
0.40%^*	$100k^*	$1000k	Money Market IRA
OTHER TIERS: 0.25% → Up to $25k \| 0.30% → $25k - $50k \| 0.35% → $50k - $100k

Needham Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%^*	$2.5k^*	-	NB Checking
OTHER TIERS: 0.05% → Up to $2.5k
0.05%	-	-	NB Business Interest Checking

Needham Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.75%	$1k	-	5 Year CD
0.75%	$1k	-	4 Year CD
0.65%	$1k	-	3 Year CD
0.50%	$1k	-	2 Year CD
0.50%	$2.5k	-	6 Month CD
0.50%	$1k	-	15 Month CD
0.50%	$50k	-	100 Day CD Special
0.50%	$1k	-	18 Month CD
0.50%	$1k	-	1 Year CD Special
0.40%	$2.5k	-	3 Month CD

Needham Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.75%	$250	-	5 Year IRA
0.75%	$250	-	4 Year IRA
0.65%	$250	-	3 Year IRA
0.50%	$250	-	6 Month IRA
0.50%	$250	-	1 Year IRA
0.50%	$250	-	2 Year IRA
0.50%	$250	-	15 Month IRA
0.50%	$250	-	18 Month IRA
0.50%	$50k	-	100 Day IRA
0.40%	$250	-	3 Month IRA

Locations

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

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