The Savings Bank (MA)

Overview / Commentary
357 Main Street
Wakefield, MA 01880

The Savings Bank (MA) is headquartered in Wakefield and is the 67th largest bank in the state of Massachusetts. It is also the 1,243rd largest bank in the nation. It was established in 1869 and as of March of 2020, it had grown to 109 employees at 9 locations. The Savings Bank (MA) has an A+ health rating.


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Health Grade Components

FDIC Certificate #90291
Year Established1869
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-0.61%
Return on Equity - YTD-4.77%
Annual Interest Income$5.6MM
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$615.6MM$621.1MM
LoansQ1 2020vs Q1 2019$486.0MM$501.2MM
DepositsQ1 2020vs Q1 2019$530.5MM$507.1MM
Equity CapitalQ1 2020vs Q1 2019$78.1MM$74.8MM
Loan Loss AllowanceQ1 2020vs Q1 2019$3.7MM$3.7MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$882.00K$2.6MM
Real Estate OwnedQ1 2020vs Q1 2019$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

The Savings Bank (MA) Savings Account Rates

1.51%-$25kKasasa Saver
0.50%$10-Companion Savings Account w/ CD
0.10%*$2.5k*-Investment Account
OTHER TIERS: 0.03% $10 - $2.5k
0.08%$10-Statement Savings
0.03%$10-Passbook Savings
0.03%$10-Holiday Club Savings
0.03%$10-The C.L.U.B. Account

The Savings Bank (MA) Money Market Rates

0.50%*$500k*-Business Money Market Account
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $5m | 0.15% $50k - $100k | 0.25% $100k - $250k | 0.35% $250k - $500k
0.35%*$100k*-Consumer Money Market
OTHER TIERS: 0.01% $10 - $2.5k | 0.03% $2.5k - $10k | 0.05% $10k - $25k | 0.10% $25k - $50k | 0.15% $50k - $100k

The Savings Bank (MA) Checking Account Rates

2.00%*-$15kKasasa Cash
OTHER TIERS: 0.20% $15k+
0.75%$10- IOLTA Account
0.10%*$100k*-Premium Checking
OTHER TIERS: 0.03% $10 - $2.5k | 0.05% $2.5k - $25k | 0.08% $25k - $100k
0.05%*$10k*-Interest Checking
OTHER TIERS: 0.03% $10 - $10k
OTHER TIERS: 0.03% $10 - $10k

The Savings Bank (MA) CD Rates

0.80%$1k-20 Month CD
0.70%$1k-24 Month CD
0.70%$1k-36 Month CD
0.70%$1k-48 Month CD
0.70%$1k-60 Month CD
0.70%$1k-30 Month CD
0.65%$1k-11 Month CD
0.55%$1k-12 Month CD
0.55%$1k-18 Month CD
0.55%$1k-15 Month CD
0.50%$1k-9 Month CD
0.40%$1k-6 Month CD

The Savings Bank (MA) IRA Rates

0.80%$1k-20 Month IRA
0.70%$1k-24 Month IRA
0.70%$1k-36 Month IRA
0.70%$1k-48 Month IRA
0.70%$1k-60 Month IRA
0.70%$1k-30 Month IRA
0.65%$1k-11 Month IRA
0.55%$1k-12 Month IRA
0.55%$1k-18 Month IRA
0.55%$1k-15 Month IRA
0.50%$1k-9 Month IRA
0.40%$1k-6 Month IRA

The Savings Bank (MA) Locations
South Lynnfield Branch1105 Summer StreetLynnfield, MA 01940
Methuen Branch17 Burnham RoadMethuen, MA 01844
The Savings Bank357 Main StreetWakefield, MA 01880
Colonial Shopping Center Branch584 Main StreetLynnfield, MA 01940
Lakeside Branch599 North AvenueWakefield, MA 01880
North Reading Branch6 Washington StreetNorth Reading, MA 01864
Andover Branch84 Main StreetAndover, MA 01810
Main Street Branch907 Main StreetWakefield, MA 01880

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