Northern Bank & Trust Company
Headquarters
275 Mishawum Rd
Woburn, MA 01801
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2024 Overview
General Bank Information
Northern Bank & Trust Company is an FDIC insured institution located in Woburn, MA. It was founded in 1960 and has approximately $3.31 billion in assets. Customers can open an account at one of its 14 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 18266 |
| Date Established | 1960 |
| Assets | $ 3.31 billion |
| Loans | $ 2.78 billion |
| Deposits | $ 2.79 billion |
| Capital | $ 448.85 million |
For a more detailed analysis of Northern Bank & Trust Company's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - November 23, 2024
Your Current Location: Ohio, OH 43085
Online Only CD Rates of Northern Bank Direct
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Month CD
|
4.00% | $500 | - |
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|
| 9 Month CD
|
4.00% | $500 | - |
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|
| 12 Month CD
|
3.50% | $500 | - |
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|
| 15 Month CD
|
3.50% | $500 | - |
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|
| 18 Month CD
|
3.50% | $500 | - |
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|
| 24 Month CD
|
3.50% | $500 | - |
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|
| 36 Month CD
|
3.50% | $500 | - |
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|
| 48 Month CD
|
3.50% | $500 | - |
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|
| 60 Month CD
|
3.50% | $500 | - |
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|
| Checking Rates | APY | MIN | FEE | |
|---|---|---|---|---|
| Northern Plus Checking | 0.05% | $2,500 | $10.00 | Learn More |
| Northern Premium Checking | 0.05% | $10,000 | $20.00 | Learn More |
| Northern Free Checking | 0.00% | $0 | $0.00 | Learn More |
Bank Online Offers
Northern Bank Direct Makes Its Savings Rate Disappear
Sep 2, 2019
There is a risk in opening an online savings account with a bank you've never heard of, even if you it is offering 2.50% APY. You could just wake up one Labor Day morning and find that the offer and the account has entirely disappeared from that bank's website!
Loan Rates - November 23, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Northern Bank & Trust Company
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 1835285 |
6.391% |
6.250% 1.00 points $4,800 fees |
$1,971 | Learn More |
NMLS ID: 1025894 |
6.956% |
6.875% 0.63 points $2,642 fees |
$2,103 | Learn More |
NMLS ID: 3030 |
7.225% |
7.125% 1.00 points $3,200 fees |
$2,156 | Learn More |
NMLS ID: 491986 |
points fees |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
Intro APR
7.240 %
After Intro: 7.240 % |
$0 |
Learn More
More Info |
Note to Northern Bank & Trust Company
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Branches
Northern Bank & Trust Company branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Northern Bank & Trust Company Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 636.14 | A | View Lobby Hours | |
| 637.06 | B | View Lobby Hours | |
| 638.80 | C | View Lobby Hours | |
| 643.47 | D | View Lobby Hours | |
| 647.17 | E | View Lobby Hours | |
| 649.83 | F | View Lobby Hours | |
| 649.98 | G | View Lobby Hours | |
| 651.56 | H | View Lobby Hours | |
| 652.71 | I | View Lobby Hours | |
| 652.73 | J | View Lobby Hours | |
| 654.87 | K | View Lobby Hours | |
| 655.59 | L | View Lobby Hours |
Climate Policy and Initiatives
Northern Bank & Trust Company is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
Northern Bank & Trust Company Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Northern Bank & Trust Company. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| Northern Bank & Trust Company | U.S. Bank Average |
|---|---|
| 11.2% | 4.48% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of June 30, 2024, Northern Bank & Trust Company had $45,975,000 in non-current loans and $10,140,000 in owned real estate. To cover these potential losses it had $448,847,000 in equity and $52,281,000 in loans loss reserves. That gives it a Texas Ratio of 11.2%.
Return on Equity
| Northern Bank & Trust Company | U.S. Bank Average |
|---|---|
| 12.5% | 10.46% |
Northern Bank & Trust Company has a Return on Equity of 12.5% versus the BestCashCow average of 10.46%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| Northern Bank & Trust Company | U.S. Bank Average |
|---|---|
| 13.55% | 10.84% |
Northern Bank & Trust Company has a Capitalization of 13.55% versus the BestCashCow average of 10.84. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Northern Bank & Trust Company Balance Sheet Analysis
As of June 30, 2024, Northern Bank & Trust Company had assets of $3,311,480,000, loans of $2,784,895,000, and deposits of $2,788,068,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
June 30, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 223.51 million |
| Interest-bearing balances | $ 218.73 million |
| Total securities | $ 136.38 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 2.78 billion |
| Loan loss allowance | $ 52.28 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 10.14 million |
| Goodwill and other intangibles | $ 0.53 million |
| All other assets | $ 85.98 million |
| Total Assets | $ 2.86 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 2.79 billion |
| Interest-bearing deposits | $ 2.30 billion |
| Deposits held in domestic offices | $ 2.79 billion |
| % insured (estimated) | 74.33% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 16.66 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 31.93 million |
| Total Liabilities | $ 2.86 billion |
| Shareholders’ Equity | $ 448.85 million |
Summary Income Statement
June 30, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 111.10 million |
| Total Interest Expense | $ 42.50 million |
| Net interest income | $ 68.60 million |
| Provision for loan and lease losses | $ 2.59 million |
| Total non interest income | $ 3.15 million |
| Total non interest expense | $ 30.93 million |
| Pre-tax Net Operating Income | $ 47.66 million |
Bank Loan Profile?
The top three loan types in Northern Bank & Trust Company’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and Construction and Development Loans.
Compared to other banks in Massachusetts, Northern Bank & Trust Company has a significantly higher percent of Construction and Development Loans, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 8.38 | ✓ | ||
| Multifamily Mortgages |
2.78 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 1.91 | ✓ | ||
| Construction and Development Loans | 14.10 | ✓ | ||
| Commercial Real Estate | 24.58 | ✓ | ||
| Commercial and Industrial Loans | 35.43 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Customer Reviews for Northern Bank & Trust Company
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