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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 20th largest bank in the state of Massachusetts. It is also the 394th largest bank in the nation. It was established in 1892 and as of December of 2020, it had grown to 229 employees at 11 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!

Posted by: |

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 I'd like to know if the review was withdrawn with the knowledge and assistance of the DepositAccounts website, and, if so, for what reason.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

4

Needham Bank, a local branch on every street

Posted by: |

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

6


Health
A

Data as of Q4 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #26483
Year Established1892
Employees229
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.56%
Return on Equity - YTD4.75%
Annual Interest Income$96.2MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$2.66B$2.45B
LoansQ4 2020vs Q4 2019$2.18B$2.06B
DepositsQ4 2020vs Q4 2019$2.21B$1.86B
Equity CapitalQ4 2020vs Q4 2019$307.2MM$292.3MM
Loan Loss AllowanceQ4 2020vs Q4 2019$19.8MM$15.2MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$25.9MM$14.2MM
Real Estate OwnedQ4 2020vs Q4 2019$0$910.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$10-Statement Savings

Needham Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$100k*$1mMoney Market Account
OTHER TIERS: 0.05% → Up to $25k | 0.10% → $25k - $50k | 0.20% → $50k - $100k
0.30%*$100k*$1000kMoney Market IRA
OTHER TIERS: 0.05% → Up to $25k | 0.10% → $25k - $50k | 0.20% → $50k - $100k

Needham Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$1k-5 Year CD
0.60%$1k-3 Year CD
0.60%$1k-4 Year CD
0.60%$1k-14 Month CD Special
0.50%$1k-2 Year CD
0.50%$1k-18 Month CD
0.50%$1k-1 Year CD Special
0.50%$1k-7 Month CD Special
0.40%--100 Day CD
0.30%$2.5k-6 Month CD
0.25%$2.5k-3 Month CD

Needham Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$250-5 Year IRA
0.60%$250-3 Year IRA
0.60%$250-4 Year IRA
0.60%$250-14 Month IRA
0.50%$250-1 Year IRA
0.50%$250-2 Year IRA
0.50%$250-7 Month IRA
0.50%$250-18 Month IRA
0.40%$50k-100 Day IRA
0.30%$250-6 Month IRA
0.25%$250-3 Month IRA
Locations


Cities: Ashland, Dedham, Dover, Medfield, Millis, Mission Hill, Natick, Needham, Wellesley, Westwood

Ashland Branches
Ashland Branch41 Front StreetAshland, MA 01721

Dedham Branches
Dedham Branch402 Washington StreetDedham, MA 02026

Dover Branches
Dover Branch60 Centre StDover, MA 02030

Medfield Branches
Medfield Branch520 Main StreetMedfield, MA 02052

Millis Branches
Millis Branch857 Main StMillis, MA 02054

Mission Hill Branches
Tremont Street Branch1457 Tremont StreetMission Hill, MA 02120

Natick Branches
Natick Branch17 West Central StNatick, MA 01760

Needham Branches
The Needham Bank1063 Great Plain AvenueNeedham, MA 02492

Wellesley Branches
Wellesley Branch458 Washington StreetWellesley, MA 02482

Westwood Branches
Westwood Branch341 Washington StreetWestwood, MA 02090

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