Needham Bank

1063 Great Plain Avenue
Needham, MA 02492

 

2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 26483
Date Established 1892
Assets $2.22 billion
Loans $1.91 billion
Deposits $1.62 billion
Capital $0.28 billion

Needham Bank is an FDIC insured institution located in Needham, MA. It was founded in 1892 and has approximately $2.22 billion in assets. Customers can open an account at one of its 10 branches.

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

Deposit Rates - August 23, 2019

Your Current Location: Washington, WA 98109

Savings and Money Market Rates APY MIN MAX
Money Market
0.25% $1 $24,999 Learn MoreShow Less
Money Market
0.30% $25,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
0.40% $2,500 - Learn MoreShow Less
Special: 3 Mo CD
2.15% $50,000 - Learn MoreShow Less
6 Mo CD
2.15% $2,500 - Learn MoreShow Less
Special: 12 Mo CD
2.25% $1,000 - Learn MoreShow Less
12 Mo CD
2.25% $1,000 - Learn MoreShow Less
18 Mo CD
2.25% $1,000 - Learn MoreShow Less
24 Mo CD
2.30% $1,000 - Learn MoreShow Less
36 Mo CD
2.30% $1,000 - Learn MoreShow Less
48 Mo CD
2.30% $1,000 - Learn MoreShow Less
60 Mo CD
2.30% $1,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
2.25% $250 - Learn MoreShow Less
Special: 3 Mo FIRA
2.15% $50,000 - Learn MoreShow Less
Special: 12 Mo FIRA
2.25% $1,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.25% $1 $24,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $10 $2,499 Learn MoreShow Less
Int Ckg
0.10% $2,500 - Learn MoreShow Less
Checking Rates APY MIN FEE
NB Checking 0.00% $0 $0.00 Learn MoreShow Less

Loan Rates - August 23, 2019

Your Current Location: Washington, WA 98109

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

Needham 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:
Seattle,Washington


Needham Bank Locations


Financial Details

Needham Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Needham 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
Needham Bank U.S. Bank Average
6.87% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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 March 31, 2019, Needham Bank had $18,674,000 in non-current loans and $1,480,000 in owned real estate. To cover these potential losses it had $279,286,000 in equity and $14,220,000 in loans loss reserves. That gives it a Texas Ratio of 6.87%.

Return on Equity
Needham Bank U.S. Bank Average
5.31% 9.47%

Needham Bank has a Return on Equity of 5.31% versus the BestCashCow average of 9.47%. 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
Needham Bank U.S. Bank Average
12.55% 12.49%

Needham Bank has a Capitalization of 12.55% versus the BestCashCow average of 12.49. 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.

Needham Bank Balance Sheet Analysis

As of March 31, 2019, Needham Bank had assets of $2,224,521,000, loans of $1,911,790,000, and deposits of $1,623,846,000. 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

March 31, 2019
ASSETS
Cash & Balances due from depository institutions $0.02 billion
Interest-bearing balances $0.01 billion
Total securities $0.21 billion
Federal funds sold and reverse repurchase $0.01 billion
Net loans and leases $1.91 billion
Loan loss allowance $0.01 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.05 billion
     Total Assets $1.95 billion
LIABILITIES
Total deposits $1.62 billion
      Interest-bearing deposits $1.51 billion
      Deposits held in domestic offices $1.62 billion
      % insured (estimated) 82.46%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.31 billion
Subordinated debt $0.00 billion
All other liabilities $0.01 billion
      Total Liabilities $1.95 billion
      Shareholders’ Equity $0.28 billion

Summary Income Statement

March 31, 2019
INCOME AND EXPENSES
Total Interest Income $0.02 billion
Total Interest Expense $0.01 billion
Net interest income $0.02 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.01 billion
Pre-tax Net Operating Income $0.01 billion

Bank Loan Profile?

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

Compared to other banks in Massachusetts, Needham 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 55.01
Multifamily
Mortgages
8.94
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 2.70
Construction and Development Loans 14.49
Commercial Real Estate 17.46
Commercial and Industrial Loans 3.98
Farm Loans 0.00

Frequently Asked Questions About Needham Bank

Branches and Savings

Is Needham Bank FDIC insured?

Yes. It is covered under FDIC Certificate #26483.

Why does Needham Bank pay such low interest on savings accounts?

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

Why are Needham Bank CD rates not competitive?

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

Is Needham Bank a commercial bank?

Yes

Where are Needham Bank locations?

See branch locations nearby.

Is Needham Bank open on Saturdays?

Is Needham Bank open on Sundays?

What time does Needham Bank open?

What time does Needham Bank close?

Are Needham Bank ATMs Open 24/7?

Do Needham Bank ATMs accept cash deposits?

Can Needham Bank customers use other ATMs?

Do Needham Bank branches have notaries?

Will Needham Bank notarize my document?

What address for Needham Bank should I put for incoming ACH transfers?

Will the Needham Bank branch print checks?

Do Needham Bank checks expire?

Does Needham Bank require US citizenship to open account?

Can Needham Bank close my account?

Does Needham Bank Report to credit bureaus?

Does Needham Bank Use Equifax?

What is Needham Bank's ACH Routing Number?

What is Needham Bank's SWIFT code?

Products

Does Needham Bank offer mortgages?

Compare mortgage rates here.

Does Needham Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Needham Bank offer personal loans?

Compare personal loan rates here.

Does Needham Bank offer student loans?

Will Needham Bank cash a check?

Will Needham Bank redeem a savings bond?

Does Needham Bank cash savings bonds?

Will Needham Bank cash money orders?

Can Needham Bank issue a money order?

Does Needham Bank do currency exchange?

Background on The Bank

Who owns Needham Bank?

How long has Needham Bank been around?

Can Needham Bank transfer to other banks?

Does Needham Bank have quick pay?

Does Needham Bank accept rolled coins?

Will Needham Bank accept loose change?

Where is Needham Bank headquarters?

Customer Reviews for Needham Bank


  • Bogie

    July 25, 2019 |

    CDs 15 Month Rates

    Excellent bank that usually has great rates on CDs.

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