Banks | Cambridge Savings Bank

Cambridge Savings Bank

For information concerning Ivy Bank, a division of Cambridge Savings Bank online bank, please click here.

Cambridge Savings Bank is an FDIC insured institution headquartered at 1374 Massachusetts Ave, Cambridge, MA 02138.
It was founded in 1834 and has approximately $7 billion in assets. Customers can open an account at one of its 20 branches.

Deposit Rates - April 27, 2024

SAVINGS RATES APY MIN
Savings
0.05% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.25% $10,000 Compare
6 Mo CD
0.25% $100,000 Compare
12 Mo CD
0.50% $10,000 Compare
12 Mo CD
0.50% $100,000 Compare
24 Mo CD
0.75% $10,000 Compare
24 Mo CD
0.75% $100,000 Compare
36 Mo CD
0.75% $10,000 Compare
36 Mo CD
0.75% $100,000 Compare
60 Mo CD
0.75% $10,000 Compare
60 Mo CD
0.75% $100,000 Compare
MM RATES APY MIN
Money Market
0.10% $2,500 Compare
Money Market
0.15% $10,000 Compare
Money Market
0.15% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.05% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 17870
Date Established 1834
Assets $ 6.87 billion
Loans $ 5.63 billion
Deposits $ 5.38 billion
Capital $ 604.43 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 118.00 million
Interest-bearing balances $ 77.84 million
Total securities $ 722.36 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 5.63 billion
Loan loss allowance $ 52.38 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 25.08 million
All other assets $ 239.84 million
     Total Assets $ 6.26 billion

LIABILITIES
Total deposits $ 5.38 billion
      Interest-bearing deposits $ 4.43 billion
      Deposits held in domestic offices $ 5.38 billion
      % insured (estimated) 69.29%
Federal funds purchased and repurchase agreements $ 16.75 million
Trading liabilities N.A.
Other borrowed funds $ 656.48 million
Subordinated debt N.A.
All other liabilities $ 78.05 millionn
      Total Liabilities $ 6.26 billion
      Shareholders’ Equity $ 604.43 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 313.73 million
Total Interest Expense $ 147.56 million
Net interest income $ 166.17 million
Provision for loan and lease losses $ 7.67 million
Total non interest income $ 11.13 million
Total non interest expense $ 136.10 million
Pre-tax Net Operating Income $ 31.48 million

Customer Reviews for Cambridge Savings Bank (5)

Rated 4.60 stars out of 5 - based on 5 reviews

  • Indexed savings product from this bank is now 5.71%. Better than anything else on this site or available anywhere.

  • I don't know why sites like this aren't pointing this out, but you can get a much higher rate from this bank in their 1-month indexed US Treasury. For July it is paying 5.31% and it was up above 5.805 in June. There is no reason not to do this, especially since you can always move back to 4.80% and the bank is excellent.

  • Sometimes slow to raise the rate, but they always do. Service is fine. Would be five stars but transfers take days.

  • Quite pleased with this one so far. Rate is consistently above anything else. I am just hoping they continue to be in the top tier of competitiveness!

  • I opened an account through this site. It was easy to open and to fund. Nice to see that the rate stays as one of the best. I hope it continues.

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