Middlesex Savings Bank · Natick, MA United States
Company Description
More Companies in: Natick, Massachusetts
More Companies in These Related Industries: Community Banks
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This link will open in a new window About midway between Boston and Worcester in eastern Massachusetts is where you'll find the approximately 30 branches of Middlesex Savings Bank. The mutually owned, community-oriented financial institution provides such traditional products and services as checking and savings accounts, IRAs, and certificates of deposit. Its lending activities are focused on residential and commercial mortgages; the bank also offers construction, land development, Small Business Administration, and other business loans. The bank's Middlesex Financial Group subsidiary provides retail investment services through an agreement with UVEST Financial Services, a division of
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Key Middlesex Savings Bank Financials
| Company Type | Private - Mutual Company Headquarters |
| Fiscal Year-End | October |
| Employees | 464 |
Middlesex Savings Bank Executives
42 executives listed for Middlesex Savings Bank's Natick, MA location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | John Heerwagen | |
| EVP and COO | Brian Lanigan | |
| EVP and CFO | Paul Totino |
Competition
Competitive Landscape for Middlesex Savings Bank
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Middlesex Savings Bank Competitors
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