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Needham Bank

Overview / Commentary
1063 Great Plain Avenue
Needham, MA 02492

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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Reviews (2)

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 I'd like to know if the review was withdrawn with the knowledge and assistance of the DepositAccounts website, and, if so, for what reason.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


Health Grade Components

FDIC Certificate #26483
Year Established1892
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.67%
Return on Equity - YTD5.31%
Annual Interest Income$23.5MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$2.22B$2.10B
LoansQ1 2019vs Q1 2018$1.91B$1.79B
DepositsQ1 2019vs Q1 2018$1.62B$1.45B
Equity CapitalQ1 2019vs Q1 2018$279.3MM$261.4MM
Loan Loss AllowanceQ1 2019vs Q1 2018$14.2MM$13.6MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$18.7MM$17.4MM
Real Estate OwnedQ1 2019vs Q1 2018$1.5MM$0

Rates for Needham Bank are currently being reviewed.


Needham Bank Locations
The Needham Bank1063 Great Plain AvenueNeedham, MA 02492
Westwood Branch341 Washington StreetWestwood, MA 02090
Dedham Branch402 Washington StreetDedham, MA 02026
Wellesley Branch458 Washington StreetWellesley, MA 02482
Medfield Branch520 Main StreetMedfield, MA 02052
Ashland Branch41 Front StreetAshland, MA 01721
Dover Branch60 Centre StDover, MA 02030
Natick Branch17 West Central StNatick, MA 01760
Millis Branch857 Main StMillis, MA 02054

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