The Savings Bank (MA)

Overview / Commentary
357 Main Street
Wakefield, MA 01880

The Savings Bank (MA) is headquartered in WAKEFIELD and is the 59th largest bank in the state of Massachusetts. It is also the 1,237th largest bank in the nation. It was established in 1869 and as of December of 2023, it had grown to 105 employees at 9 locations. The Savings Bank (MA)'s money market rates are 2X the national average, and it has an A health rating.


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Health Grade Components

FDIC Certificate #90291
Year Established1869
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.09%
Return on Equity - YTD0.95%
Annual Interest Income$28.6MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$784.3MM$719.8MM
LoansQ4 2023vs Q4 2022$568.1MM$514.9MM
DepositsQ4 2023vs Q4 2022$701MM$642.3MM
Equity CapitalQ4 2023vs Q4 2022$75.8MM$72.4MM
Loan Loss AllowanceQ4 2023vs Q4 2022$5.6MM$5.2MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$1.4MM$2.4MM
Real Estate OwnedQ4 2023vs Q4 2022$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

4.33%$10-Companion Savings Account w/ CD
1.00%*-$25kKasasa Saver
OTHER TIERS: 0.20% $25k+
0.08%$10-Statement Savings
0.03%$10-Passbook Savings
0.03%--Holiday Club Savings
0.03%--The C.L.U.B. Account

The Savings Bank (MA) Money Market Rates

1.00%*$1m*-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 | 0.30% $100k - $250k | 0.50% $250k - $500k | 0.75% $500k - $1m
1.00%*$1m*-Business Money Market Account
OTHER TIERS: 0.03% $10 - $25k | 0.05% $25k - $50k | 0.10% $50k - $100k | 0.20% $100k - $250k | 0.50% $250k - $500k | 0.75% $500k - $1m
0.10%*$2.5k*-Investment Savings
OTHER TIERS: 0.03% $10 - $2.5k

The Savings Bank (MA) Checking Account Rates

3.07%$10- IOLTA Account
3.00%*-$15kKasasa Cash
OTHER TIERS: 0.20% $15k+
0.50%$5k-Wealth Checking w/ Direct Deposit
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
0.05%$10$5kWealth Checking

The Savings Bank (MA) CD Rates

4.85%--7 Month CD Special
4.85%--4 Month CD Special
0.35%--20 Month CD
0.30%--24 Month CD
0.30%--36 Month CD
0.30%--48 Month CD
0.30%--60 Month CD
0.30%--30 Month CD
0.20%--9 Month CD
0.20%--12 Month CD
0.20%--18 Month CD
0.20%--11 Month CD
0.10%--6 Month CD

The Savings Bank (MA) IRA Rates

5.12%$1k-15 Month IRA Special
4.85%--7 Month IRA Special
0.35%--20 Month IRA
0.30%--24 Month IRA
0.30%--36 Month IRA
0.30%--48 Month IRA
0.30%--60 Month IRA
0.30%--30 Month IRA
0.20%--9 Month IRA
0.20%--12 Month IRA
0.20%--18 Month IRA
0.20%--11 Month IRA
0.10%--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 StWakefield, 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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