MutualOne Bank


828 Concord St
Framingham, MA 01701
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.40% 5.50% →
1-Year CD 0.45% 5.50% →
2-Year CD N.A. 5.00% →
5-Year CD 0.55% 4.61% →
30-Year Mortgage N.A. 0.00% →
15-Year Mortgage N.A. 0.00% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

MutualOne Bank is an FDIC insured institution located in Framingham, MA. It was founded in 1889 and has approximately $1.28 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 26395
Date Established 1889
Assets $ 1,279.65 million
Loans $ 1,117.16 million
Deposits $ 898.08 million
Capital $ 227.40 million

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

Deposit Rates - February 23, 2024

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Online Savings Account
0.40% $500 - Learn More
1-Year CD
0.45% $500 - Learn More
5-year CD
0.55% $0 - Learn More

Checking Rates APY MIN FEE
Advantage Interest Checking 0.10% $1,000 $8.00 Learn MoreShow Less
Free Checking 0.00% $0 $0.00 Learn MoreShow Less

Bank Offers

MutualOne Lowers Online Savings rate to 0.40%
Apr 8, 2021

This tiny little Massachusetts bank which showed signs of aiming to be nationally competitive on savings and online CDs has dropped its rates again today.   Its online savings rate has fallen from 0.60% to 0.40% in two months and its short term CD rates are no longer competitive.


Loan Rates - February 23, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for MutualOne Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2024

Lender APR Rate (%) Monthly
Learn More
NMLS ID: Not a Lender

Learn More
NMLS ID: Not a Lender

Learn More
Neighbors Bank
NMLS ID: 491986

Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2024

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
7.490 %
$0 Learn More
More Info

Note to MutualOne Bank
To upload and update your bank's rates please register. It is free to register and add rates.


MutualOne 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:

MutualOne Bank Locations

Climate Initiatives

MutualOne Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

MutualOne Bank Ratio Analysis

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

Texas Ratio
MutualOne Bank U.S. Bank Average
0.35% 4.13%

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 September 30, 2023, MutualOne Bank had $844,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $227,404,000 in equity and $17,071,000 in loans loss reserves. That gives it a Texas Ratio of 0.35%.

Return on Equity
MutualOne Bank U.S. Bank Average
9.58% 26.02%

MutualOne Bank has a Return on Equity of 9.58% versus the BestCashCow average of 26.02%. 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.

MutualOne Bank U.S. Bank Average
17.77% 10.23%

MutualOne Bank has a Capitalization of 17.77% versus the BestCashCow average of 10.23. 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.

MutualOne Bank Balance Sheet Analysis

As of September 30, 2023, MutualOne Bank had assets of $1,279,651,000, loans of $1,117,162,000, and deposits of $898,082,000. 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

September 30, 2023
Cash & Balances due from depository institutions $ 27.09 million
Interest-bearing balances $ 25.74 million
Total securities $ 87.54 million
Federal funds sold and reverse repurchase $ 0.47 million
Net loans and leases $ 1,117.16 million
Loan loss allowance $ 17.07 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.12 million
All other assets $ 33.43 million
     Total Assets $ 1,052.25 million
Total deposits $ 898.08 million
      Interest-bearing deposits $ 776.95 million
      Deposits held in domestic offices $ 898.08 million
      % insured (estimated) 77.38%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 36.52 million
Subordinated debt N.A.
All other liabilities $ 10.66 million
      Total Liabilities $ 1,052.25 million
      Shareholders’ Equity $ 227.40 million

Summary Income Statement

September 30, 2023
Total Interest Income $ 58.32 million
Total Interest Expense $ 20.11 million
Net interest income $ 38.21 million
Provision for loan and lease losses $ 2.22 million
Total non interest income $ 0.70 million
Total non interest expense $ 15.79 million
Pre-tax Net Operating Income $ 13.28 million

Bank Loan Profile?

The top three loan types in MutualOne Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks in Massachusetts, MutualOne Bank has a significantly higher percent of Construction and Development Loans, Farm 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 18.83
Credit Card Loans 0.00
Consumer Auto Loans 0.09
Small Business Loans 0.00
Construction and Development Loans 12.86
Commercial Real Estate 21.55
Commercial and Industrial Loans 18.45
Farm Loans 0.46

Customer Reviews for MutualOne Bank

  • August 28, 2022

    CDs 6 Month Rates

    Rates are totally uncompetitive now.

  • March 25, 2021 |

    Online Savings Rates

    Completely excessive number of customer service phone calls after setting up account. Well meaning, but over the top.

  • February 15, 2021 |

    Online Savings Rates

    And, poof, just like that. After years of being competitive, they've dropped their MM rate from 0.70 to 0.45 in two weeks.

  • February 10, 2021 |

    I opened CDs with no issue, they didn't want to set me up for bank-to-bank transfer for a savings account. Someone called me several times and I would call back and get told they had everything. Not worth all the emails and phone calls.

  • February 10, 2021 |

    Online Savings Rates

    A little weak around the edges!

Add Your Review

or use your BestCashCow account