Largest Banks in Massachusetts

The top largest banks in Massachusetts are Eastern Bank, Middlesex Savings Bank, Salem Five Bank, State Street Bank and Trust Company, Berkshire Bank, among others.

Eastern Bank, headquartered in Boston, Massachusetts offers banking, investments and insurance all under one roof. It is the largest independent, mutually owned bank in New England. Its subsidiaries are Eastern Insurance, the largest independent insurance agency headquartered in New England, and Fantini & Gorga, a commercial mortgage and real estate investment banking firm. In 2010 Eastern Bank Corp. named one of the “Top Places to Work” in Massachusetts in The Boston Globe’s annual survey.

Middlesex Savings Bank is one of the largest and strongest banks in Massachusetts, offering a comprehensive range of products and services to meet the financial needs of consumers and businesses.

Salem Five Bank is the third largest privately-held bank headquartered in Massachusetts, offering a broad range of retail and commercial banking products and services. Salem Five operates Salem Five Mortgage Company, LLC with offices in Massachusetts, Maine, and New Hampshire and is the largest servicer of mortgage loans headquartered in New England.

State Street Bank and Trust Company is a custodian bank organized as a Massachusetts trust company. It was the 10th largest bank at the end of 2008 as an individual bank. With US$21.5 trillion in assets under custody and administration, and US$2.0 trillion under management as of 31 December 2010, State Street is an industry leader and innovator. State Street was named Best Administrator Overall with over $30 billion AUA in HFMWeek’s US Service Provider Awards (October 2010).

Founded in 1846, Berkshire Bank is one of Massachusetts' oldest and largest independent banks and the largest banking institution based in Western Massachusetts. It has $2.7 billion in total assets; $385 million in stockholders’ equity; $2.1 billion in total loans; $2.1 billion in total deposits (at end for 6/30/10).

* Next: Largest Banks in Mississippi

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