Northway Bank

Headquarters

9 Main Street
Berlin, NH 03570
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 1.60% →
1-Year CD 0.35% 1.55% →
2-Year CD 0.50% 1.45% →
5-Year CD 1.25% 1.66% →
30-Year Mortgage 5.66% 3.08% →
15-Year Mortgage 5.06% 2.65% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Northway Bank is an FDIC insured institution located in Berlin, NH. It was founded in 1934 and has approximately $0.91 billion in assets. Customers can open an account at one of its 18 branches.

FDIC Insured Yes
FDIC Certificate # 14240
Date Established 1934
Assets $ 912.66 million
Loans $ 630.39 million
Deposits $ 732.92 million
Capital $ 108.04 million
 

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

Deposit Rates - May 30, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $100 - Learn More
Money Market
0.06% $1,000 $4,999 Learn More
Money Market
0.15% $5,000 $49,999 Learn More
Premium Money Market Account
0.35% $5,000 $49,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.05% $2,500 - Learn More
12 Mo CD
0.35% $2,500 - Learn More
Special: 13 Mo CD
0.90% $10,000 $49,999 Learn More
Special: 13 Mo CD
0.95% $50,000 $99,999 Learn More
Special: 13 Mo CD
1.05% $250,000 $999,999 Learn More
18 Mo CD
0.35% $2,500 - Learn More
24 Mo CD
0.50% $2,500 - Learn More
36 Mo CD
0.55% $2,500 - Learn More
48 Mo CD
0.75% $2,500 - Learn More
60 Mo CD
1.25% $2,500 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.35% $1,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.02% $1,000 - Learn MoreShow Less

Loan Rates - May 30, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 4.29% 3.99% $737.99
4 Year 4.29% 3.99% $564.36
5 Year 4.29% 3.99% $460.30
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

Northway 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


Northway Bank Locations


Financial Details

Northway Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Northway 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
Northway Bank U.S. Bank Average
2.87% 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, Northway Bank had $3,147,000 in non-current loans and $164,000 in owned real estate. To cover these potential losses it had $108,037,000 in equity and $7,224,000 in loans loss reserves. That gives it a Texas Ratio of 2.87%.

Return on Equity
Northway Bank U.S. Bank Average
8.86% 9.41%

Northway Bank has a Return on Equity of 8.86% 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
Northway Bank U.S. Bank Average
11.84% 12.82%

Northway Bank has a Capitalization of 11.84% 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.

Northway Bank Balance Sheet Analysis

As of December 31, 2019, Northway Bank had assets of $912,655,000, loans of $630,385,000, and deposits of $732,917,000. 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 $ 58.66 million
Interest-bearing balances $ 34.65 million
Total securities $ 192.38 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 630.39 million
Loan loss allowance $ 7.22 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.16 million
Goodwill and other intangibles $ 10.43 million
All other assets $ 7.22 million
     Total Assets $ 804.62 million
LIABILITIES
Total deposits $ 732.92 million
      Interest-bearing deposits $ 588.36 million
      Deposits held in domestic offices $ 732.92 million
      % insured (estimated) 78.94%
Federal funds purchased and repurchase agreements $ 64.33 million
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 7.37 million
      Total Liabilities $ 804.62 million
      Shareholders’ Equity $ 108.04 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 34.67 million
Total Interest Expense $ 4.69 million
Net interest income $ 29.98 million
Provision for loan and lease losses $ 0.21 million
Total non interest income $ 6.05 million
Total non interest expense $ 29.17 million
Pre-tax Net Operating Income $ 6.65 million

Bank Loan Profile?

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

Compared to other banks in New Hampshire, Northway Bank has a significantly higher percent of Commercial Real Estate 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 33.90
Multifamily
Mortgages
6.83
Credit Card Loans 0.00
Consumer Auto Loans 0.11
Small Business Loans 7.93
Construction and Development Loans 3.02
Commercial Real Estate 41.03
Commercial and Industrial Loans 5.74
Farm Loans 0.00

Frequently Asked Questions About Northway Bank

Branches and Savings

Is Northway Bank FDIC insured?

Yes. It is covered under FDIC Certificate #14240.

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

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

Why are Northway Bank CD rates not competitive?

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

Is Northway Bank a commercial bank?

Yes

Where are Northway Bank locations?

See branch locations nearby.

Is Northway Bank open on Saturdays?

Is Northway Bank open on Sundays?

What time does Northway Bank open?

What time does Northway Bank close?

Are Northway Bank ATMs Open 24/7?

Do Northway Bank ATMs accept cash deposits?

Can Northway Bank customers use other ATMs?

Do Northway Bank branches have notaries?

Will Northway Bank notarize my document?

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

Will the Northway Bank branch print checks?

Do Northway Bank checks expire?

Does Northway Bank require US citizenship to open account?

Can Northway Bank close my account?

Does Northway Bank Report to credit bureaus?

Does Northway Bank Use Equifax?

What is Northway Bank's ACH Routing Number?

What is Northway Bank's SWIFT code?

Products

Does Northway Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Northway Bank offer personal loans?

Compare personal loan rates here.

Does Northway Bank offer student loans?

Will Northway Bank cash a check?

Will Northway Bank redeem a savings bond?

Does Northway Bank cash savings bonds?

Will Northway Bank cash money orders?

Can Northway Bank issue a money order?

Does Northway Bank do currency exchange?

Background on The Bank

Who owns Northway Bank?

How long has Northway Bank been around?

Can Northway Bank transfer to other banks?

Does Northway Bank have quick pay?

Does Northway Bank accept rolled coins?

Will Northway Bank accept loose change?

Where is Northway Bank headquarters?

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