Banks | Needham Bank

Needham Bank

Needham Bank is an FDIC insured institution headquartered at 1063 Great Plain Ave, Needham, MA 02492.
It was founded in 1892 and has approximately $5 billion in assets. Customers can open an account at one of its 10 branches.

Deposit Rates - December 25, 2024

Loan Rates - December 25, 2024

MORTGAGE PURCHASE	APR(%)	MONTHLY PAYMENT
5 Year Adjustable Jumbo	6.76%	$2,021.57
7 Year Adjustable Jumbo	6.88%	$2,094.27
10 Year Fixed Jumbo	6.73%	$3,527.96
20 Year Fixed Jumbo	6.75%	$2,315.72

MORTGAGE REFINANCE	APR(%)	MONTHLY PAYMENT
5 Year Adjustable Jumbo	6.76%	$2,021.57
7 Year Adjustable Jumbo	6.88%	$2,094.27
10 Year Fixed Jumbo	6.73%	$3,527.96
20 Year Fixed Jumbo	6.75%	$2,315.72

See Other Mortgage Rates →

Overview 2024

General Bank Information

FDIC Insured	Yes
FDIC Certificate	# 26483
Date Established	1892
Assets	$ 4.66 billion
Loans	$ 4.06 billion
Deposits	$ 3.92 billion
Capital	$ 592.87 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions	$ 179.31 million
Interest-bearing balances	$ 121.44 million
Total securities	$ 205.07 million
Federal funds sold and reverse repurchase	$ 13.54 million
Net loans and leases	$ 4.06 billion
Loan loss allowance	$ 37.86 million
Trading account assets	N.A.
Bank premises and fixed assets	N.A.
Other real estate owned	N.A.
Goodwill and other intangibles	$ 3.24 million
All other assets	$ 124.00 million
Total Assets	$ 4.07 billion

LIABILITIES
Total deposits	$ 3.92 billion
Interest-bearing deposits	$ 3.32 billion
Deposits held in domestic offices	$ 3.92 billion
% insured (estimated)	71.84%
Federal funds purchased and repurchase agreements	N.A.
Trading liabilities	N.A.
Other borrowed funds	$ 0.43 million
Subordinated debt	N.A.
All other liabilities	$ 43.43 millionn
Total Liabilities	$ 4.07 billion
Shareholders’ Equity	$ 592.87 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income	$ 135.90 million
Total Interest Expense	$ 61.96 million
Net interest income	$ 73.94 million
Provision for loan and lease losses	$ 8.10 million
Total non interest income	$ 5.73 million
Total non interest expense	$ 50.97 million
Pre-tax Net Operating Income	$ 14.59 million

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Branches

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