Northern Bank Named #1 Community Bank in New England
The Massachusetts-based bank tops S&P Global Market Intelligence's Best-Performing Community Banks list for the 8th year in a row
BOSTON – July 24, 2018 – Northern Bank, a Massachusetts-based community and business bank was named the #1 Community Bank in New England by S&P Global Market Intelligence list of community banks in the $1 billion to $10 billion asset category. This marks the eighth consecutive year that Northern Bank has been selected as #1 on this industry list of top performers.
"We are honored to be selected as the top community bank for the eighth straight year," said Jim Mawn, President and CEO of Northern Bank. "This past year was another record year for our bank and we are thrilled to continue to grow alongside our clients. Our privately-held, family-run, full-service bank is focused on helping local communities, customers, small businesses, and employees succeed. It is my personal mission that Northern Bank continues to remain the best community bank in New England."
Northern Bank’s creative and unique lending model and partnership with its customers and small businesses have set it apart from other companies in the industry and attributed to the bank’s ever growing success. From 2010 through 2017 Northern Bank has more than doubled in size with $2 billion in assets. According to S&P, this ranks Northern Bank highest among its community bank peers across the country, community banks are defined as institutions with up to $10 billion in assets. Eligible banks for the award had to be well-capitalized according to regulatory standards and could not have a majority of revenue derived from nontraditional banking activities.
Founded in 1960, Northern Bank was established to support aspiring business leaders and provide effective lending decisions quickly to customers. In 2009, Jim Mawn, started as President and CEO of Northern Bank in the midst of the banking crisis. Unlike other institutions at this time, Northern Bank was providing the help customers needed. This allowed the bank to expand its client base to triple it’s original size. Since 2009, S&P Global Market Intelligence has ranked Northern Bank as the best performing community bank in New England every year.
About Northern Bank
Northern Bank is a Massachusetts-based chartered full-service bank, for businesses and consumers in New England. Founded in 1960, the company, headquartered in Woburn, Massachusetts, takes an entrepreneurial, commonsense approach to providing a complete line of banking solutions. Northern Bank has assets in excess of $2 billion with 12 locations serving communities throughout Middlesex County. Northern Bank is a Member of the FDIC, an Equal Housing Lender, and consistently ranked among the best performing community banks in New England.