Northern Bank & Trust Company


275 Mishawum Rd
Woburn, MA 01801
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Notable Rates APY Vs.Others
Savings N.A. 5.55% →
1-Year CD N.A. 5.41% →
2-Year CD N.A. 5.25% →
5-Year CD N.A. 4.55% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Northern Bank & Trust Company is an FDIC insured institution located in Woburn, MA. It was founded in 1960 and has approximately $3.11 billion in assets. Customers can open an account at one of its 14 branches.

FDIC Insured Yes
FDIC Certificate # 18266
Date Established 1960
Assets $ 3.11 billion
Loans $ 2.69 billion
Deposits $ 2.55 billion
Capital $ 435.90 million

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

Deposit Rates - May 21, 2024

Your Current Location: Virginia, VA 20146

Online Only CD Rates of Northern Bank Direct

Online CD Rates APY MIN MAX
6 Month CD
5.00% $500 - Learn More
12 Month CD
5.30% $500 - Learn More
15 Month CD
5.40% $500 - Learn More
18 Month CD
4.50% $500 - Learn More
24 Month CD
4.50% $500 - Learn More
36 Month CD
4.00% $500 - Learn More
48 Month CD
4.00% $500 - Learn More
60 Month CD
4.00% $500 - Learn More
Checking Rates APY MIN FEE
Northern Plus Checking 0.05% $2,500 $10.00 Learn MoreShow Less
Northern Premium Checking 0.05% $10,000 $20.00 Learn MoreShow Less
Northern Free Checking 0.00% $0 $0.00 Learn MoreShow Less

Bank Online Offers

Northern Bank Direct Makes Its Savings Rate Disappear
Sep 2, 2019

There is a risk in opening an online savings account with a bank you've never heard of, even if you it is offering 2.50% APY.  You could just wake up one Labor Day morning and find that the offer and the account has entirely disappeared from that bank's website!   

Loan Rates - May 21, 2024

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Northern Bank & Trust Company

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
PenFed Credit Union
NMLS ID: 401822
6.427% 6.250%
0.88 points
$6,000 fees
$1,971 Learn More
Mutual of Omaha Mortgage, Inc.
NMLS ID: 1025894
6.956% 6.875%
0.63 points
$2,655 fees
$2,103 Learn More
Rocket Mortgage
NMLS ID: 3030
7.451% 7.375%
0.75 points
$2,400 fees
$2,211 Learn More
NMLS ID: Not a Lender

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 Northern Bank & Trust Company
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Climate Policy and Initiatives

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Financial Details

Northern Bank & Trust Company Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Northern Bank & Trust Company. 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
Northern Bank & Trust Company U.S. Bank Average
8.63% 3.96%

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, 2024, Northern Bank & Trust Company had $35,978,000 in non-current loans and $6,000,000 in owned real estate. To cover these potential losses it had $435,900,000 in equity and $50,671,000 in loans loss reserves. That gives it a Texas Ratio of 8.63%.

Return on Equity
Northern Bank & Trust Company U.S. Bank Average
14.22% 12.20%

Northern Bank & Trust Company has a Return on Equity of 14.22% versus the BestCashCow average of 12.20%. 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.

Northern Bank & Trust Company U.S. Bank Average
14% 10.76%

Northern Bank & Trust Company has a Capitalization of 14% versus the BestCashCow average of 10.76. 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.

Northern Bank & Trust Company Balance Sheet Analysis

As of December 31, 2023, Northern Bank & Trust Company had assets of $3,114,603,000, loans of $2,687,271,000, and deposits of $2,553,470,000. 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, 2024
Cash & Balances due from depository institutions $ 184.48 million
Interest-bearing balances $ 177.57 million
Total securities $ 85.06 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 2.69 billion
Loan loss allowance $ 50.67 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 6.00 million
Goodwill and other intangibles $ 0.63 million
All other assets $ 85.98 million
     Total Assets $ 2.68 billion
Total deposits $ 2.55 billion
      Interest-bearing deposits $ 2.00 billion
      Deposits held in domestic offices $ 2.55 billion
      % insured (estimated) 69.12%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 16.66 million
Subordinated debt N.A.
All other liabilities $ 31.93 million
      Total Liabilities $ 2.68 billion
      Shareholders’ Equity $ 435.90 million

Summary Income Statement

December 31, 2024
Total Interest Income $ 196.14 million
Total Interest Expense $ 57.01 million
Net interest income $ 139.13 million
Provision for loan and lease losses $ 2.72 million
Total non interest income $ 9.56 million
Total non interest expense $ 61.29 million
Pre-tax Net Operating Income $ 47.66 million

Bank Loan Profile?

The top three loan types in Northern Bank & Trust Company’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks in Massachusetts, Northern Bank & Trust Company has a significantly higher percent of Construction and Development Loans, Commercial and Industrial 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 8.69
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 1.99
Construction and Development Loans 14.61
Commercial Real Estate 25.47
Commercial and Industrial Loans 36.72
Farm Loans 0.00

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