Westfield Bank

Overview / Commentary

www.westfieldbank.com

413-568-1911

141 Elm Street
Westfield, MA 01085

Westfield Bank is headquartered in Westfield and is the 22^nd largest bank in the state of Massachusetts. It is also the 414^th largest bank in the nation. It was established in 1853 and as of June of 2020, it had grown to 327 employees at 25 locations. Westfield Bank has an A health rating.

View all posts from:

2017

3/15 - Up To $200 In Checking Bonuses

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Health

Data as of Q2 2020

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Health Grade Components

Overall
FDIC Certificate #	90300
Year Established	1853
Employees	327
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	0.43%
Return on Equity - YTD	4.44%
Annual Interest Income	$40.7MM

Assets and Liabilities
Assets	Q2 2020vs Q2 2019	$2.43B$2.12B
Loans	Q2 2020vs Q2 2019	$1.98B$1.71B
Deposits	Q2 2020vs Q2 2019	$1.95B$1.65B
Equity Capital	Q2 2020vs Q2 2019	$216.7MM$217.3MM
Loan Loss Allowance	Q2 2020vs Q2 2019	$18.3MM$12.4MM
Unbacked Noncurrent Loans	Q2 2020vs Q2 2019	$10.2MM$14.9MM
Real Estate Owned	Q2 2020vs Q2 2019	$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.

Westfield Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.15%	$10	-	Signature Savings
0.10%	$10	-	Ready, Set, Grow Savings
0.05%	$10	-	Classic Statement Savings
0.05%	$10	-	Free Statement Savings w/Checking

Westfield Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%^*	$500k^*	-	Business Prime Money Market w/Checking
OTHER TIERS: 0.15% → $10 - $500k
0.40%^*	$500k^*	-	Performance Money Market w/Checking
OTHER TIERS: 0.15% → $10 - $100k \| 0.20% → $100k - $250k \| 0.30% → $250k - $500k
0.20%^*	$50k^*	-	IRA Money Market
OTHER TIERS: 0.10% → $10 - $25k \| 0.15% → $25k - $50k
0.15%^*	$250k^*	-	Business Money Market
OTHER TIERS: 0.10% → $10 - $250k
0.10%	$10	-	Summit Money Market

Westfield Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.10%	$10	-	WB Interest Checking

Westfield Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.45%	$1k	-	7 Month WB Signature CD w/ Checking
0.45%	$1k	-	Business 7 Month CD w/Checking
0.30%	$1k	-	12 Month WB Classic CD
0.30%	$1k	-	24 Month WB Classic CD
0.30%	$1k	-	36 Month WB Classic CD
0.30%	$1k	-	48 Month WB Classic CD
0.30%	$1k	-	Business 12 Month CD
0.30%	$1k	-	Business 24 Month CD
0.30%	$1k	-	60 Month WB Classic CD
0.20%	$1k	-	6 Month WB Classic CD
0.20%	$1k	-	Business 6 Month CD
0.10%	$1k	-	3 Month WB Classic CD

Westfield Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.45%	$500	-	13 Month Retirement Accumulator CD w/Checking
0.45%	$500	-	7 Month WB Signature IRA w/Checking
0.30%	$500	-	12 Month WB Classic IRA
0.30%	$500	-	24 Month WB Classic IRA
0.30%	$500	-	12 Month Add-On IRA
0.30%	$500	-	36 Month WB Classic IRA
0.30%	$500	-	48 Month WB Classic IRA
0.30%	$500	-	60 Month WB Classic IRA

Locations

Availability

Springfield Area

Springfield Area bank & credit union details

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