Machias Savings Bank
Machias Savings Bank is an FDIC insured institution headquartered at
4 Center St, Machias, ME 4654.
It was founded in
1869 and has approximately $2 billion in
assets. Customers can open an account at one of its 19 branches.
Deposit Rates - March 29, 2023
| SAVINGS RATES | APY | MIN | |
|---|---|---|---|
|
Savings
|
0.15% | $2,500 | Compare |
| CD RATES | APY | MIN | |
|---|---|---|---|
|
6 Mo CD
|
0.35% | $10,000 | Compare |
|
6 Mo CD
|
0.35% | $100,000 | Compare |
|
12 Mo CD
|
0.45% | $10,000 | Compare |
|
12 Mo CD
|
0.45% | $100,000 | Compare |
|
18 Mo CD
|
0.55% | $10,000 | Compare |
|
18 Mo CD
|
0.55% | $100,000 | Compare |
|
24 Mo CD
|
0.75% | $10,000 | Compare |
|
24 Mo CD
|
0.75% | $100,000 | Compare |
|
36 Mo CD
|
1.01% | $10,000 | Compare |
|
36 Mo CD
|
1.01% | $100,000 | Compare |
|
48 Mo CD
|
1.15% | $10,000 | Compare |
|
48 Mo CD
|
1.15% | $100,000 | Compare |
|
60 Mo CD
|
1.25% | $10,000 | Compare |
|
60 Mo CD
|
1.25% | $100,000 | Compare |
| MM RATES | APY | MIN | |
|---|---|---|---|
|
Money Market
|
0.10% | $2,500 | Compare |
|
Money Market
|
0.10% | $10,000 | Compare |
|
Money Market
|
0.15% | $25,000 | Compare |
| INT CHECKING RATES | APY | MIN |
|---|---|---|
|
Int Ckg
|
0.05% | $1 |
|
Int Ckg
|
0.05% | $2,500 |
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Overview 2023
General Bank Information
| FDIC Insured | Yes |
| FDIC Certificate | # 19531 |
| Date Established | 1869 |
| Assets | $ 2.27 billion |
| Loans | $ 1,791.48 million |
| Deposits | $ 1,937.92 million |
| Capital | $ 213.96 million |
Summary Balance Sheet as of September 30, 2022
| ASSETS | |
| Cash & Balances due from depository institutions | $ 39.04 million |
| Interest-bearing balances | $ 11.05 million |
| Total securities | $ 364.97 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 1,791.48 million |
| Loan loss allowance | $ 23.55 million |
| Trading account assets | $ 1.10 million |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 0.02 million |
| Goodwill and other intangibles | $ 1.34 million |
| All other assets | $ 55.17 million |
| Total Assets | $ 2.08 billion |
| LIABILITIES | |
| Total deposits | $ 1,937.92 million |
| Interest-bearing deposits | $ 1,637.64 million |
| Deposits held in domestic offices | $ 1,937.92 million |
| % insured (estimated) | 86.77% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | $ 1.07 million |
| Other borrowed funds | $ 103.35 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 20.22 millionn |
| Total Liabilities | $ 2.08 billion |
| Shareholders’ Equity | $ 194.99 million |
Summary Income Statement as of September 30, 2022
| INCOME AND EXPENSES | |
| Total Interest Income | $ 62.49 million |
| Total Interest Expense | $ 4.32 million |
| Net interest income | $ 58.17 million |
| Provision for loan and lease losses | N.A. |
| Total non interest income | $ 8.73 million |
| Total non interest expense | $ 43.08 million |
| Pre-tax Net Operating Income | $ 15.63 million |
Customer Reviews for Machias Savings Bank
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Machias Savings 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.
- 1LOCAL CDBankMAINE$50,0006 Month0.35%1.21x (National Avg. - 0.29%)$10,000-SCENARIO
Year Rate
0.35%Annual
InterestAnnual Interest
(After Tax)1 50,000 175 123 2 50,175 176 123 3 50,351 176 123 4 50,527 177 124 5 50,704 177 124 6 50,881 178 125 7 51,059 179 125 8 51,238 179 126 9 51,417 180 126 10 51,597 181 126 11 51,778 181 127 12 51,959 182 127 13 52,141 182 128 14 52,323 183 128 15 52,507 184 129 16 52,690 184 129 17 52,875 185 130 18 53,060 186 130 19 53,245 186 130 20 53,432 187 131 TOTAL $3,619 $2,533 - 2LOCAL CDOnline Bank-$50,00060 Month4.10%5.06x (National Avg. - 0.81%)$2,500-SCENARIO
Year Rate
4.10%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,050 1,435 2 52,050 2,134 1,494 3 54,184 2,222 1,555 4 56,406 2,313 1,619 5 58,718 2,407 1,685 6 61,126 2,506 1,754 7 63,632 2,609 1,826 8 66,241 2,716 1,901 9 68,957 2,827 1,979 10 71,784 2,943 2,060 11 74,727 3,064 2,145 12 77,791 3,189 2,233 13 80,980 3,320 2,324 14 84,300 3,456 2,419 15 87,757 3,598 2,519 16 91,355 3,746 2,622 17 95,100 3,899 2,729 18 98,999 4,059 2,841 19 103,058 4,225 2,958 20 107,284 4,399 3,079 TOTAL $61,682 $43,178 - 3LOCAL CDOnline Bank-$50,00024 Month4.30%7.75x (National Avg. - 0.56%)$2,500-SCENARIO
Year Rate
4.30%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,150 1,505 2 52,150 2,242 1,570 3 54,392 2,339 1,637 4 56,731 2,439 1,708 5 59,171 2,544 1,781 6 61,715 2,654 1,858 7 64,369 2,768 1,938 8 67,137 2,887 2,021 9 70,024 3,011 2,108 10 73,035 3,140 2,198 11 76,175 3,276 2,293 12 79,451 3,416 2,391 13 82,867 3,563 2,494 14 86,430 3,717 2,602 15 90,147 3,876 2,713 16 94,023 4,043 2,830 17 98,066 4,217 2,952 18 102,283 4,398 3,079 19 106,681 4,587 3,211 20 111,268 4,785 3,349 TOTAL $66,053 $46,237 - 4LOCAL CDOnline Bank-$50,00012 Month4.50%10.23x (National Avg. - 0.44%)$2,500-SCENARIO
Year Rate
4.50%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,250 1,575 2 52,250 2,351 1,646 3 54,601 2,457 1,720 4 57,058 2,568 1,797 5 59,626 2,683 1,878 6 62,309 2,804 1,963 7 65,113 2,930 2,051 8 68,043 3,062 2,143 9 71,105 3,200 2,240 10 74,305 3,344 2,341 11 77,648 3,494 2,446 12 81,143 3,651 2,556 13 84,794 3,816 2,671 14 88,610 3,987 2,791 15 92,597 4,167 2,917 16 96,764 4,354 3,048 17 101,119 4,550 3,185 18 105,669 4,755 3,329 19 110,424 4,969 3,478 20 115,393 5,193 3,635 TOTAL $70,586 $49,410
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