The Savings Bank is a bank based in Wakefield, Massachusetts, established in 1869, with $864 million in total assets across 9 branches. By Trust Grade it ranks 69th of 91 banks we track in Massachusetts. Its capital ratio of 9.5% trails most similarly sized banks (39th percentile), versus a Massachusetts median of 10.2%. It was profitable over the most recent period, with a 0.12% return on assets. No consumer complaints against The Savings Bank appear in the CFPB database over our analysis window — common for an institution of this size and a point in its favor.
How The Savings Bank compares to Massachusetts peers
How we graded The Savings Bank
The Trust Grade blends financial strength with complaint history. Full methodology →
- Strongly capitalized (9.5% capital ratio)
- Profitable (ROA 0.12%)
- No CFPB complaints on record
Consumer complaints (CFPB)
No CFPB complaints are on file for The Savings Bank over the analysis window. For a smaller institution this is common and counts in its favor.
Branch locations (9)
- 357 Main St, Wakefield, MA 01880
- 907 Main St, Wakefield, MA 01880
- 584 Main St, Lynnfield, MA 01940
- 599 North Ave, Wakefield, MA 01880
- 60 Farm St, Wakefield, MA 01880
- 84 Main St, Andover, MA 01810
- 1105 Summer St, Lynnfield, MA 01940
- 17 Burnham Rd, Methuen, MA 01844
- 6 Washington St, North Reading, MA 01864
Are deposits at The Savings Bank insured?
Yes. The Savings Bank is an FDIC-insured bank (FDIC certificate #90291). Deposits are federally insured up to $250,000per depositor, per ownership category — regardless of this institution's Trust Grade. The grade reflects financial strength and complaint history for comparison, not the safety of insured deposits.
The Savings Bank: frequently asked questions
Is The Savings Bank a good bank?
The Savings Bank earns a Bankzia Trust Grade of B (89/100, "Strong"), based on a financial-strength score of 89/100 (it has no CFPB complaints on record). Strongly capitalized (9.5% capital ratio); Profitable (ROA 0.12%).
Is The Savings Bank FDIC-insured?
Yes. The Savings Bank is a FDIC-insured bank (FDIC certificate #90291). Deposits are protected up to the standard FDIC limit of $250,000 per depositor, per ownership category.
How big is The Savings Bank?
The Savings Bank holds $864 million in total assets, ranking 69th of 91 banks we track in Massachusetts. It operates 9 branches.
Does The Savings Bank have CFPB complaints?
No CFPB complaints against The Savings Bank appear in our data over the analysis window, which is typical for a bank of this size.
Similar Banks
Financial data from FDIC call reports; complaint data from the CFPB Consumer Complaint Database. Bankzia is an independent resource and is not affiliated with any government agency or financial institution. Figures are for general information, not financial advice.
