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 - March 16, 2025

Loan Rates - March 16, 2025

MORTGAGE PURCHASE	APR(%)	MONTHLY PAYMENT
5 Year Adjustable Jumbo	7.04%	$2,021.57
7 Year Adjustable Jumbo	6.62%	$2,094.27
10 Year Fixed Jumbo	6.60%	$3,527.96
20 Year Fixed Jumbo	6.88%	$2,315.72

MORTGAGE REFINANCE	APR(%)	MONTHLY PAYMENT
5 Year Adjustable Jumbo	6.71%	$2,021.57
7 Year Adjustable Jumbo	6.62%	$2,094.27
10 Year Fixed Jumbo	6.60%	$3,527.96
20 Year Fixed Jumbo	6.88%	$2,315.72

See Other Mortgage Rates →

Overview 2025

General Bank Information

FDIC Insured	Yes
FDIC Certificate	# 26483
Date Established	1892
Assets	$ 4.85 billion
Loans	$ 4.21 billion
Deposits	$ 4.05 billion
Capital	$ 594.12 million

Summary Balance Sheet as of September 30, 2024

ASSETS
Cash & Balances due from depository institutions	$ 157.24 million
Interest-bearing balances	$ 90.11 million
Total securities	$ 202.54 million
Federal funds sold and reverse repurchase	$ 21.03 million
Net loans and leases	$ 4.21 billion
Loan loss allowance	$ 37.61 million
Trading account assets	N.A.
Bank premises and fixed assets	N.A.
Other real estate owned	N.A.
Goodwill and other intangibles	$ 3.26 million
All other assets	$ 124.00 million
Total Assets	$ 4.25 billion

LIABILITIES
Total deposits	$ 4.05 billion
Interest-bearing deposits	$ 3.48 billion
Deposits held in domestic offices	$ 4.05 billion
% insured (estimated)	72.21%
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	$ 4.25 billion
Shareholders’ Equity	$ 594.12 million

Summary Income Statement as of September 30, 2024

INCOME AND EXPENSES
Total Interest Income	$ 209.85 million
Total Interest Expense	$ 96.64 million
Net interest income	$ 113.22 million
Provision for loan and lease losses	$ 10.72 million
Total non interest income	$ 10.12 million
Total non interest expense	$ 76.65 million
Pre-tax Net Operating Income	$ 14.59 million

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Branches

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