Middlesex Savings Bank

Headquarters

6 Main Street
Natick, MA 01760
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 1.55% →
1-Year CD 0.40% 1.35% →
2-Year CD 0.40% 1.35% →
5-Year CD 0.40% 1.60% →
30-Year Mortgage 3.88% 3.09% →
15-Year Mortgage 3.48% 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Middlesex Savings Bank is an FDIC insured institution located in Natick, MA. It was founded in 1835 and has approximately $4.95 billion in assets. Customers can open an account at one of its 34 branches.

FDIC Insured Yes
FDIC Certificate # 90183
Date Established 1835
Assets $ 4.95 billion
Loans $ 3.14 billion
Deposits $ 4.23 billion
Capital $ 656.43 million
 

For a more detailed analysis of Middlesex Savings Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - June 6, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $10 - Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $10 - Learn More
6 Mo CD
0.20% $10 - Learn More
12 Mo CD
0.40% $10 - Learn More
18 Mo CD
0.40% $10 - Learn More
24 Mo CD
0.40% $10 - Learn More
30 Mo CD
0.40% $10 - Learn More
36 Mo CD
0.40% $10 - Learn More
48 Mo CD
0.40% $10 - Learn More
60 Mo CD
0.40% $10 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.40% $10 - Learn MoreShow Less

Loan Rates - June 6, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 4.00% 4.00% $738.10
4 Year 4.25% 4.25% $567.28
5 Year 4.50% 4.50% $466.08
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Middlesex Savings Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Middlesex Savings Bank Locations


Financial Details

Middlesex Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Middlesex Savings Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Middlesex Savings Bank U.S. Bank Average
1.06% 6.51%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2019, Middlesex Savings Bank had $7,148,000 in non-current loans and $110,000 in owned real estate. To cover these potential losses it had $656,428,000 in equity and $27,343,000 in loans loss reserves. That gives it a Texas Ratio of 1.06%.

Return on Equity
Middlesex Savings Bank U.S. Bank Average
6.63% 9.41%

Middlesex Savings Bank has a Return on Equity of 6.63% versus the BestCashCow average of 9.41%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Middlesex Savings Bank U.S. Bank Average
13.25% 12.82%

Middlesex Savings Bank has a Capitalization of 13.25% versus the BestCashCow average of 12.82. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Middlesex Savings Bank Balance Sheet Analysis

As of December 31, 2019, Middlesex Savings Bank had assets of $4,954,135,000, loans of $3,142,648,000, and deposits of $4,230,794,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 166.69 million
Interest-bearing balances $ 129.56 million
Total securities $ 1,385.65 million
Federal funds sold and reverse repurchase $ 30.71 million
Net loans and leases $ 3.14 billion
Loan loss allowance $ 27.34 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.11 million
Goodwill and other intangibles $ 14.06 million
All other assets $ 154.21 million
     Total Assets $ 4.30 billion
LIABILITIES
Total deposits $ 4.23 billion
      Interest-bearing deposits $ 3.19 billion
      Deposits held in domestic offices $ 4.23 billion
      % insured (estimated) 78.20%
Federal funds purchased and repurchase agreements $ 35.63 million
Trading liabilities N.A.
Other borrowed funds $ 0.19 million
Subordinated debt N.A.
All other liabilities $ 31.09 million
      Total Liabilities $ 4.30 billion
      Shareholders’ Equity $ 656.43 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 179.65 million
Total Interest Expense $ 41.21 million
Net interest income $ 138.44 million
Provision for loan and lease losses N.A.
Total non interest income $ 16.77 million
Total non interest expense $ 107.10 million
Pre-tax Net Operating Income $ 48.11 million

Bank Loan Profile?

The top three loan types in Middlesex Savings Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks in Massachusetts, Middlesex Savings Bank has a significantly higher percent of Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 41.06
Multifamily
Mortgages
1.56
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 4.28
Construction and Development Loans 12.70
Commercial Real Estate 31.94
Commercial and Industrial Loans 11.89
Farm Loans 0.00

Frequently Asked Questions About Middlesex Savings Bank

Branches and Savings

Is Middlesex Savings Bank FDIC insured?

Yes. It is covered under FDIC Certificate #90183.

Why does Middlesex Savings Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Middlesex Savings Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Middlesex Savings Bank a commercial bank?

Yes

Where are Middlesex Savings Bank locations?

See branch locations nearby.

Is Middlesex Savings Bank open on Saturdays?

Is Middlesex Savings Bank open on Sundays?

What time does Middlesex Savings Bank open?

What time does Middlesex Savings Bank close?

Are Middlesex Savings Bank ATMs Open 24/7?

Do Middlesex Savings Bank ATMs accept cash deposits?

Can Middlesex Savings Bank customers use other ATMs?

Do Middlesex Savings Bank branches have notaries?

Will Middlesex Savings Bank notarize my document?

What address for Middlesex Savings Bank should I put for incoming ACH transfers?

Will the Middlesex Savings Bank branch print checks?

Do Middlesex Savings Bank checks expire?

Does Middlesex Savings Bank require US citizenship to open account?

Can Middlesex Savings Bank close my account?

Does Middlesex Savings Bank Report to credit bureaus?

Does Middlesex Savings Bank Use Equifax?

What is Middlesex Savings Bank's ACH Routing Number?

What is Middlesex Savings Bank's SWIFT code?

Products

Does Middlesex Savings Bank offer mortgages?

Compare mortgage rates here.

Does Middlesex Savings Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Middlesex Savings Bank offer personal loans?

Compare personal loan rates here.

Does Middlesex Savings Bank offer student loans?

Will Middlesex Savings Bank cash a check?

Will Middlesex Savings Bank redeem a savings bond?

Does Middlesex Savings Bank cash savings bonds?

Will Middlesex Savings Bank cash money orders?

Can Middlesex Savings Bank issue a money order?

Does Middlesex Savings Bank do currency exchange?

Background on The Bank

Who owns Middlesex Savings Bank?

How long has Middlesex Savings Bank been around?

Can Middlesex Savings Bank transfer to other banks?

Does Middlesex Savings Bank have quick pay?

Does Middlesex Savings Bank accept rolled coins?

Will Middlesex Savings Bank accept loose change?

Where is Middlesex Savings Bank headquarters?

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