Westfield Bank


Westfield Bank is an FDIC insured institution headquartered at 141 Elm St, Westfield, MA 01085.
It was founded in 1853 and has approximately $3 billion in assets. Customers can open an account at one of its 23 branches.

Deposit Rates - November 21, 2024

Loan Rates - November 21, 2024

MORTGAGE PURCHASE APR(%) MONTHLY PAYMENT
5 Year Adjustable Conforming
6.88% $2,102.81
7 Year Adjustable Conforming
6.23% $1,966.97
10 Year Fixed Conforming
6.45% $3,560.37
15 Year Fixed Conforming
6.69% $2,737.30
20 Year Fixed Conforming
6.82% $2,371.16
30 Year Fixed Conforming
6.90% $2,050.69
MORTGAGE REFINANCE APR(%) MONTHLY PAYMENT
5 Year Adjustable Conforming
6.88% $2,102.81
7 Year Adjustable Conforming
6.23% $1,966.97
10 Year Fixed Conforming
6.45% $3,560.37
15 Year Fixed Conforming
6.69% $2,737.30
20 Year Fixed Conforming
6.82% $2,371.16
30 Year Fixed Conforming
7.28% $2,050.69
HOME EQUITY RATES APR(%) MONTHLY PAYMENT
Line of Credit
1.99% Varies
5 Year Loan
7.63% $2,008.03
10 Year Loan
7.77% $1,200.00
15 Year Loan
7.98% $953.69
20 Year Loan
6.51% $746.34
AUTO LOAN RATES APR(%) MONTHLY PAYMENT
3 Year
4.17% $738.10
4 Year
4.13% $564.48
5 Year
4.10% $460.41

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 90300
Date Established 1853
Assets $ 2.58 billion
Loans $ 2.01 billion
Deposits $ 2.18 billion
Capital $ 241.87 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 51.30 million
Interest-bearing balances $ 28.16 million
Total securities $ 352.95 million
Federal funds sold and reverse repurchase $ 1.95 million
Net loans and leases $ 2.01 billion
Loan loss allowance $ 19.44 million
Trading account assets $ 5.92 million
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 14.49 million
All other assets $ 110.88 million
     Total Assets $ 2.34 billion

LIABILITIES
Total deposits $ 2.18 billion
      Interest-bearing deposits $ 1,618.48 million
      Deposits held in domestic offices $ 2.18 billion
      % insured (estimated) 73.09%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 5.92 million
Other borrowed funds $ 6.15 million
Subordinated debt N.A.
All other liabilities $ 38.20 millionn
      Total Liabilities $ 2.34 billion
      Shareholders’ Equity $ 241.87 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 53.40 million
Total Interest Expense $ 23.08 million
Net interest income $ 30.32 million
Provision for loan and lease losses N.A.
Total non interest income $ 6.50 million
Total non interest expense $ 28.30 million
Pre-tax Net Operating Income $ 16.61 million

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Branches

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Westfield Bank Locations