Webster Five Cents Savings Bank is headquartered in WEBSTER and is the 47th largest bank in the state of Massachusetts. It is also the 843rd largest bank in the nation. It was established in 1868 and as of June of 2024, it had grown to 147 employees at 7 locations. Webster Five Cents Savings Bank's CD rates are 5X the national average, and it has an A health rating.
This Bank Is Terrible! Customer Service Sucks!
I use to bank here for almost 20 years. I went into the lobby last month with a personal check made out to my underage daughter who cannot sign. It was a Webster five cents saving bank check so they gladly cashed it for me. It was for 50.00.
Today I go down there and I had to use the drive thru. I had another personal check made out to my daughter for 50.00. It had the bank's name on it as well. This time the guy tells me, "because you are not a customer we cannot cash a personal check with two parties involved, your daughter and you."
I told him you cashed a personal check last month for my daughter for 50.00. He tells me, "Well maybe they just made an exception."
This bank is trash. They should be ashamed of themselves not cashing their own checks. What's wrong with these people!
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 90297 |
| Year Established | 1868 |
| Employees | 147 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.45% |
| Return on Equity - YTD | 4.26% |
| Annual Interest Income | $30.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $1.25B$1.16B |
| Loans | Q2 2024vs Q2 2023 | $959.9MM$870.4MM |
| Deposits | Q2 2024vs Q2 2023 | $968.3MM$917MM |
| Equity Capital | Q2 2024vs Q2 2023 | $132MM$123.2MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $9.1MM$8.7MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $3MM$2.1MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |