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Florence Bank


ACH Number: 211871688

Florence Bank is an FDIC insured institution headquartered at 85 Main St, Florence, MA 01062.
It was founded in 1873 and has approximately $2 billion in assets. Customers can open an account at one of its 11 branches.

Deposit Rates - December 30, 2025

SAVINGS RATES APY MIN
SAV
3.45% $10 Compare
CD RATES APY MIN
3 Mo CD
1.00% $500 Compare
6 Mo CD
0.50% $500 Compare
7 Mo CD
4.75% $500 Compare
12 Mo CD
1.49% $500 Compare
18 Mo CD
0.15% $500 Compare
24 Mo CD
0.20% $500 Compare
30 Mo CD
2.13% $500 Compare
36 Mo CD
0.35% $500 Compare
48 Mo CD
2.96% $500 Compare
60 Mo CD
1.00% $500 Compare
MM RATES APY MIN
Money Market
0.05% $10 Compare
Money Market
0.15% $10,000 Compare
Money Market
0.20% $25,000 Compare
Money Market
0.30% $50,000 Compare
Money Market
0.40% $100,000 Compare
VARIABLE IRA RATES APY MIN
VIRA
1.00% $10
INT CHECKING RATES APY MIN
INTCK
0.01% $0




Overview 2025

General Bank Information

FDIC Insured Yes
FDIC Certificate # 23293
Date Established 1873
Assets $ 1,940.69 million
Loans $ 1,189.64 million
Deposits $ 1,684.56 million
Capital $ 199.28 million

Summary Balance Sheet as of June 30, 2025

ASSETS
Cash & Balances due from depository institutions $ 50.39 million
Interest-bearing balances $ 27.75 million
Total securities $ 609.10 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,189.64 million
Loan loss allowance $ 7.08 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 68.41 million
     Total Assets $ 1,741.41 million

LIABILITIES
Total deposits $ 1,684.56 million
      Interest-bearing deposits $ 1,239.69 million
      Deposits held in domestic offices $ 1,684.56 million
      % insured (estimated)" 76.83%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 21.56 millionn
      Total Liabilities $ 1,741.41 million
      Shareholders’ Equity $ 199.28 million

Summary Income Statement as of June 30, 2025

INCOME AND EXPENSES
Total Interest Income $ 36.52 million
Total Interest Expense $ 12.10 million
Net interest income $ 24.42 million
Provision for loan and lease losses $ 0.20 million
Total non interest income $ 3.78 million
Total non interest expense $ 19.90 million
Pre-tax Net Operating Income $ 9.98 million

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Branches

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Florence Bank Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis."

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only."

  • 1
    LOCAL SAVINGS
    Florence Bank
    Bank
    -
    $50,000
    N.A.
    3.45%
    15.33x (National Avg. - 0.23%)
    $10
    -
    SCENARIO
    Year Rate
    3.45%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,725 1,208
    2 51,725 1,785 1,249
    3 53,510 1,846 1,292
    4 55,356 1,910 1,337
    5 57,265 1,976 1,383
    6 59,241 2,044 1,431
    7 61,285 2,114 1,480
    8 63,399 2,187 1,531
    9 65,586 2,263 1,584
    10 67,849 2,341 1,639
    11 70,190 2,422 1,695
    12 72,612 2,505 1,754
    13 75,117 2,592 1,814
    14 77,708 2,681 1,877
    15 80,389 2,773 1,941
    16 83,162 2,869 2,008
    17 86,032 2,968 2,078
    18 89,000 3,070 2,149
    19 92,070 3,176 2,223
    20 95,247 3,286 2,300
    TOTAL $48,533 $33,973
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    Bank
    -
    $50,000
    N.A.
    3.75%
    16.67x (National Avg. - 0.23%)
    $1,000
    -
    SCENARIO
    Year Rate
    3.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,875 1,313
    2 51,875 1,945 1,362
    3 53,820 2,018 1,413
    4 55,839 2,094 1,466
    5 57,933 2,172 1,521
    6 60,105 2,254 1,578
    7 62,359 2,338 1,637
    8 64,697 2,426 1,698
    9 67,124 2,517 1,762
    10 69,641 2,612 1,828
    11 72,252 2,709 1,897
    12 74,962 2,811 1,968
    13 77,773 2,916 2,042
    14 80,689 3,026 2,118
    15 83,715 3,139 2,198
    16 86,854 3,257 2,280
    17 90,111 3,379 2,365
    18 93,491 3,506 2,454
    19 96,996 3,637 2,546
    20 100,634 3,774 2,642
    TOTAL $54,408 $38,085


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