Needham Bank
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.45% | 18-month IRA | 1.57% - National Average |
| 2.70% | 5-year CD | 3.10% - Barclays 60 Month Online CD |
| 2.40% | 1-year CD | 2.75% - Barclays 12 Month Online CD |
Needham Bank is headquartered in Needham and is the 21st largest bank in the state of Massachusetts. It is also the 399th largest bank in the nation. It was established in 1892 and as of December of 2018, it had grown to 199 employees at 10 locations. Needham Bank's CD rates are 3X the national average, and it has an A health rating.
Related Posts
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 I'd like to know if the review was withdrawn with the knowledge and assistance of the DepositAccounts website, and, if so, for what reason.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 Q4 2018
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 | 0.68% |
| Return on Equity - YTD | 5.3% |
| Annual Interest Income | $83.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $2.17B$2.02B |
| Loans | Q4 2018vs Q4 2017 | $1.86B$1.70B |
| Deposits | Q4 2018vs Q4 2017 | $1.50B$1.40B |
| Equity Capital | Q4 2018vs Q4 2017 | $273.8MM$261.0MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $13.6MM$13.4MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $17.8MM$18.4MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $1.5MM$0 |
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 | |
| 0.10% | $10 | - | Passbook Savings |
Needham Bank Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 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 | VIEW DETAILS | |
|---|---|---|---|---|---|
| 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 | VIEW DETAILS |
|---|---|---|---|---|
| 2.70% | $1k | - | 5 Year CD | |
| 2.65% | $1k | - | 4 Year CD | |
| 2.60% | $1k | - | 3 Year CD | |
| 2.55% | $1k | - | 2 Year CD | |
| 2.50% | $1k | - | 18 Month CD | |
| 2.45% | $1k | - | 15 Month CD | |
| 2.40% | $1k | - | 1 Year CD | |
| 2.10% | $2.5k | - | 6 Month CD | |
| 2.00% | $100k | - | 100 Day CD | |
| 0.40% | $2.5k | - | 3 Month CD |
Needham Bank IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.70% | $250 | - | 5 Year IRA | |
| 2.65% | $250 | - | 4 Year IRA | |
| 2.60% | $250 | - | 3 Year IRA | |
| 2.55% | $250 | - | 2 Year IRA | |
| 2.50% | $250 | - | 18 Month IRA | |
| 2.45% | $250 | - | 15 Month IRA | |
| 2.40% | $250 | - | 1 Year IRA | |
| 2.10% | $250 | - | 6 Month IRA | |
| 2.00% | $100k | - | 100 Day IRA | |
| 0.40% | $250 | - | 3 Month IRA |
| 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 |