Watertown Savings Bank

Headquarters

60 Main St
Watertown, MA 02472
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 5.50% →
1-Year CD N.A. 4.80% →
2-Year CD N.A. 4.25% →
5-Year CD N.A. 4.00% →
30-Year Mortgage 7.27% 4.91% →
15-Year Mortgage 6.77% 4.39% →
HELOC 8.50% 0.99% →

2024 Overview

General Bank Information

Watertown Savings Bank is an FDIC insured institution located in Watertown, MA. It was founded in 1870 and has approximately $1.46 billion in assets. Customers can open an account at one of its 10 branches.

FDIC Insured Yes
FDIC Certificate # 23298
Date Established 1870
Assets $ 1,464.31 million
Loans $ 619.44 million
Deposits $ 1,304.44 million
Capital $ 141.44 million
 

For a more detailed analysis of Watertown Savings Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - November 21, 2024

Your Current Location: Ohio, OH 43085

Checking Rates APY MIN FEE
Free Checking 0.00% $0 $0.00 Learn MoreShow Less

Loan Rates - November 21, 2024

Your Current Location: Ohio, OH 43085

Home Equity Rates APR Rate Monthly Payment
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Watertown Savings Bank 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



Climate Policy and Initiatives

Watertown Savings Bank 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

Watertown Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Watertown Savings Bank. 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
Watertown Savings Bank U.S. Bank Average
0.36% 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, Watertown Savings Bank had $516,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $141,439,000 in equity and $1,928,000 in loans loss reserves. That gives it a Texas Ratio of 0.36%.

Return on Equity
Watertown Savings Bank U.S. Bank Average
2.78% 10.46%

Watertown Savings Bank has a Return on Equity of 2.78% 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
Watertown Savings Bank U.S. Bank Average
9.66% 10.84%

Watertown Savings Bank has a Capitalization of 9.66% 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.

Watertown Savings Bank Balance Sheet Analysis

As of June 30, 2024, Watertown Savings Bank had assets of $1,464,307,000, loans of $619,437,000, and deposits of $1,304,439,000. 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 $ 140.38 million
Interest-bearing balances $ 130.05 million
Total securities $ 620.21 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 619.44 million
Loan loss allowance $ 1.93 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 $ 54.71 million
     Total Assets $ 1,322.87 million
LIABILITIES
Total deposits $ 1,304.44 million
      Interest-bearing deposits $ 1,200.48 million
      Deposits held in domestic offices $ 1,304.44 million
      % insured (estimated) 72.02%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 22.83 million
      Total Liabilities $ 1,322.87 million
      Shareholders’ Equity $ 141.44 million

Summary Income Statement

June 30, 2024
INCOME AND EXPENSES
Total Interest Income $ 23.58 million
Total Interest Expense $ 9.62 million
Net interest income $ 13.97 million
Provision for loan and lease losses N.A.
Total non interest income $ 1.83 million
Total non interest expense $ 13.47 million
Pre-tax Net Operating Income $ 2.65 million

Bank Loan Profile?

The top three loan types in Watertown Savings Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.

Compared to other banks in Massachusetts, Watertown Savings Bank has a significantly higher percent of 1-4 Family Residential 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 80.58
Multifamily
Mortgages
1.77
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 2.57
Construction and Development Loans 2.62
Commercial Real Estate 6.58
Commercial and Industrial Loans 0.89
Farm Loans 0.00

Customer Reviews for Watertown Savings Bank


  • January 1, 2016

    I very much prefer banking here. Everyone is so friendly and know who is calling by voice. Your help getting me through this year where I did as much as possible to launch my business, CryoRain Inc., is ever so much appreciated. It should be completed by the end of January and I will get salary finally after 12 years of unpaid effort. We convert emergency management efforts, fire control, and flood control from a water based effort to Nitrogen gas sourced from liquid Nitrogen. That eliminates water damage and electrical arcing from fire recovery and eliminates icing in winter events. It will even enable victories over terrorist without collateral damage if the US Department of Defense would allow a woman's discovery to be used in its endeavors. It is so much quieter than bombing and allows refugees to return to their homes, not to the pile of rubble where they previously lived.


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