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Florence Bank

Popular Accounts at this Bank

0.32%Reward CheckingReward Checking
0.40%1-year CD12 Month CD
0.10%SavingsSecurity Deposit Account

Overview / Commentary
85 Main Street
Florence, MA 01062

Florence Bank is headquartered in Florence and is the 32nd largest bank in the state of Massachusetts. It is also the 589th largest bank in the nation. It was established in 1873 and as of June of 2017, it had grown to 195 employees at 10 locations. Florence Bank has an A health rating.

Reviews (2)

Stay Away - Please!!!

Posted by: BDru357 | Apr 16, 2016

Can't speak for their residential loan services, but as far as their commercial loan department they are the WORST. I'd go so far as to say that if I landed on the Moon and they were the only bank there I'd fire up the boosters and head for Mars. Incompetent and ineffective loan officers, reprehensible loan committee, draconian policies - please, please do yourself a favor and find another bank for your commercial loan business, or you'll be very sorry. Barely one small step above worthless, one giant leap below a bank you should give your commercial business to. If I took the time and effort to post this feedback please believe it is to help others from getting screwed.......

Lousy, Lousy Customer Service.

Posted by: mkamel26 | Feb 17, 2015

When a teller screwed up and gave my wife wrong information, the manager of the King Street Branch, who also claims to be VP for customer service, effectively called my wife a liar and refused to do anything to rectify the problem.


Health Grade Components

FDIC Certificate #23293
Year Established1873
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.2%
Return on Equity - YTD12.11%
Annual Interest Income$22.7MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$1.31B$1.25B
LoansQ2 2017vs Q2 2016$988.2MM$934.5MM
DepositsQ2 2017vs Q2 2016$1.10B$1.05B
Equity CapitalQ2 2017vs Q2 2016$132.4MM$120.7MM
Loan Loss AllowanceQ2 2017vs Q2 2016$5.1MM$5.3MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$2.7MM$3.4MM
Real Estate OwnedQ2 2017vs Q2 2016$0$0
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Florence Bank Savings Account Rates

0.15%--School Savings
0.10%--Variable IRA Savings
0.10%--EZ Savings
0.10%--Club Savings
0.10%--Client Escrow Savings
0.10%--Statement Savings
0.10%--Security Deposit Account

Florence Bank Money Market Rates

0.35%*$100k*-Performance Money Market
OTHER TIERS: 0.10% $10 - $50k | 0.15% $50k - $100k
0.15%*$100k*-Business Money Market
OTHER TIERS: 0.10% $10 - $100k
0.10%--Money Market Deposit Account

Florence Bank Checking Account Rates

1.25%--Cash Management Checking
1.00%--IOLTA Checking
0.35%*$500k*$1mBusiness Interest Checking
OTHER TIERS: 0.01% Up to $100k | 0.10% $100k - $250k | 0.15% $1mm+ | 0.25% $250k - $500k
0.32%*-$25kReward Checking
OTHER TIERS: 0.10% $25k+

Florence Bank CD Rates

1.50%$500-48 Month CD
1.50%$500-Business 48 Month CD
1.25%$500-30 Month CD
1.25%$500-Business 30 Month CD
1.25%$500-15 Month Bump-Up Promotional CD
0.75%$500-36 Month CD
0.75%$500-Business 36 Month CD
0.65%$500$1m25 Month Promotional CD
0.65%$500-Business 25 Month CD
0.55%$500-24 Month CD
0.55%$500-Business 24 Month CD
0.45%$500-18 Month CD
0.45%$500-Business 18 Month CD
0.40%$500-12 Month CD
0.40%$500-Business 12 Month CD
0.30%$500-17 Month Easy-Out CD
0.30%$500-Business 17 Month Easy-Out CD
0.25%$500-6 Month CD
0.25%$500-Business 6 Month CD
0.15%$500-7 Month Easy-Out CD
0.15%$500-Business 7 Month Easy-Out CD
0.10%$500-3 Month CD
0.10%$500-Business 3 Month CD

Florence Bank IRA Rates

1.75%$500-60 Month IRA
0.75%$500-36 Month IRA
0.45%$500-18 Month IRA
0.40%$500-12 Month IRA

Cities: Amherst, Belchertown, Easthampton, Florence, Granby, Hadley, Northampton, Williamsburg

Amherst Branches
College Street Branch385 College StreetAmherst, MA 01002

Belchertown Branches
Belchertown Branch20 George Hannum StreetBelchertown, MA 01007

Easthampton Branches
Easthampton Branch5 Main StreetEasthampton, MA 01027

Florence Branches
Florence Savings Bank85 Main StreetFlorence, MA 01062
Florence Drive-Up Branch69 Main StreetFlorence, MA 01062

Granby Branches
Granby Branch68 Pleasant StreetGranby, MA 01033

Hadley Branches
Hadley Branch377 Russell StreetHadley, MA 01035

Northampton Branches
King Street Branch176 King StreetNorthampton, MA 01060
Northampton Branch58 Main StreetNorthampton, MA 01060

Williamsburg Branches
Williamsburg Branch1 Main StreetWilliamsburg, MA 01096