Watertown Savings Bank (MA)

Overview / Commentary

www.watertownsavings.com

617-928-9000

60 Main Street
Watertown, MA 02472

Watertown Savings Bank (MA) is headquartered in Watertown and is the 35^th largest bank in the state of Massachusetts. It is also the 646^th largest bank in the nation. It was established in 1870 and as of December of 2019, it had grown to 121 employees at 10 locations. Watertown Savings Bank (MA)'s savings rates are 25% higher than the national average, and it has an A health rating.

Reviews (1)

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Watertown Savings Bank Experience

Posted by: triciaeaton0 | Jul 30, 2017

I've been a customer of Watertown Savings Bank for approximately one year. I left a large bank because I disliked the lack of customer service. The customer service at Watertown savings is top notch with employees willing to help you immediately as you enter the bank. If the person who greets you can't help you, he or she will find someone who can. I do most of my banking online and I see pros and cons with the service offered for my checking account. The site is easy to navigate, but I dislike not being able to guarantee when my bill payment will arrive at its destination. The bank says I must send payment 3 to 5 days ahead of time. I also dislike not having a rewards program on using my checking account/debit card to buy things. Other than those drawbacks, I like dealing with a small local bank mostly because the customer service is superior. The fees are also competitive. I would like to see a better rate of interest on my savings account, but the bank offers a competitive rate.

Comment

Health

Data as of Q4 2019

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	23298
Year Established	1870
Employees	121
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	0.44%
Return on Equity - YTD	4.21%
Annual Interest Income	$37.6MM

Assets and Liabilities
Assets	Q4 2019vs Q4 2018	$1.27B$1.18B
Loans	Q4 2019vs Q4 2018	$627.1MM$596.7MM
Deposits	Q4 2019vs Q4 2018	$1.13B$1.05B
Equity Capital	Q4 2019vs Q4 2018	$128.2MM$123.5MM
Loan Loss Allowance	Q4 2019vs Q4 2018	$3.5MM$3.3MM
Unbacked Noncurrent Loans	Q4 2019vs Q4 2018	$1.6MM$1.4MM
Real Estate Owned	Q4 2019vs Q4 2018	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Watertown Savings Bank (MA) Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.65%^*	$500k^*	-	Pinnacle Savings
OTHER TIERS: 0.10% → $50 - $2.5k \| 0.20% → $2.5k - $50k \| 0.25% → $50k - $100k \| 0.30% → $100k - $250k \| 0.40% → $250k - $500k
0.40%^*	$250k^*	-	Presidential Savings
OTHER TIERS: 0.10% → $50 - $2.5k \| 0.20% → $2.5k - $50k \| 0.25% → $50k - $100k \| 0.30% → $100k - $250k
0.20%^*	$250k^*	-	Presidential Business Savings
OTHER TIERS: 0.05% → $50 - $2.5k \| 0.10% → $2.5k - $50k \| 0.15% → $50k - $250k
0.05%	$50	-	Access Savings Account
0.05%	$50	-	Passbook Savings Account
0.05%	$50	-	Security Deposit Trust Account

Watertown Savings Bank (MA) Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.40%^*	$250k^*	-	Money Market Account
OTHER TIERS: 0.10% → $50 - $2.5k \| 0.20% → $2.5k - $50k \| 0.25% → $50k - $100k \| 0.30% → $100k - $250k
0.20%^*	$250k^*	-	Business Money Market
OTHER TIERS: 0.05% → $50 - $2.5k \| 0.10% → $2.5k - $50k \| 0.15% → $50k - $250k

Watertown Savings Bank (MA) Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%	$50	-	Pinnacle Checking
0.05%	$50	-	Senior Checking
0.05%	$50	-	Plus Checking

Watertown Savings Bank (MA) CD Rates

APY	MIN	MAX	ACCOUNT NAME
2.25%	$1k	-	47 Month Long Term CD Special (with Checking Account)
2.10%	$1k	-	16 Month Medium Term Certificate Special (with Checking Account)
2.00%	$1k	-	4 Month CD Special
0.20%	$1k	-	3 Year CD
0.20%	$1k	-	4 Year CD
0.20%	$1k	-	5 Year CD
0.20%	$1k	-	6 Year CD
0.10%	$1k	-	3 Month CD
0.10%	$1k	-	6 Month CD
0.10%	$1k	-	9 Month CD
0.10%	$1k	-	11 Month CD
0.10%	$1k	-	12 Month CD
0.10%	$1k	-	15 Month CD
0.10%	$1k	-	18 Month CD
0.10%	$1k	-	2 Year CD
0.10%	$1k	-	30 Month CD
0.10%	$50k	-	Business 3 Month CD
0.10%	$10k	-	Business 6 Month CD
0.10%	$10k	-	Business 12 Month CD

Watertown Savings Bank (MA) IRA Rates

APY	MIN	MAX	ACCOUNT NAME
2.25%	$1k	-	47 Month Long Term IRA Special (with Checking Account)
2.10%	$1k	-	16 Month Medium Term IRA Special (with Checking Account)
0.20%	$1k	-	3 Year IRA
0.20%	$1k	-	4 Year IRA
0.20%	$1k	-	5 Year IRA
0.20%	$1k	-	6 Year IRA
0.10%	$1k	-	12 Month IRA
0.10%	$1k	-	15 Month IRA
0.10%	$1k	-	18 Month IRA
0.10%	$1k	-	2 Year IRA
0.10%	$1k	-	30 Month IRA

Locations

Cities: Arlington, Belmont, Lexington, Waltham, Watertown

Arlington Branches
Arlington Branch	980 Massachusetts Avenue	Arlington, MA 02476

Belmont Branches
Waverly Square Branch	30 Church Street	Belmont, MA 02478

Lexington Branches
Lexington Branch	1075 Waltham Street	Lexington, MA 02421

Waltham Branches
Waltham Branch	6 Lexington Street	Waltham, MA 02451
Market Street Branch	25 Market Place Drive	Waltham, MA 02451

Watertown Branches
East Watertown Branch	10 Bigelow Avenue	Watertown, MA 02472
Nonantum Branch	175 Watertown Street	Watertown, MA 02472
Watertown Square Drive Up Branch	45 Church Street	Watertown, MA 02472
Watertown Savings Bank	60 Main Street	Watertown, MA 02472
Warrendale Branch	739 Main Street	Watertown, MA 02472

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