Applications / Mortgage Analytics / Lenders / Massachusetts / Needham Bank
Needham, MA · State member bank · FRS · $6.9 billion assets · 562 loans in 2025
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562
loans originated, 2025
860
applications, 2025
7
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Needham Bank is a Boston-area bank making large loans, a third of them jumbo, and its 562 loans in 2025 were 20% more than in 2024, in the year it merged with BankProv.
Jumbo loans (larger than the conforming limit) were 33.2% of its lending, against 1.7% at similar lenders (state member banks making between half and twice as many loans), more than nearly all of them. Its typical loan was $385,000 against $195,000, and its $465.3 million in loans was well above the peer figure of $165.7 million.
Originations rose 20%, against 7% at similar lenders and 10% for the whole market. It merged with BankProv in 2025, which may account for part of the growth, and it bought 54 loans after buying none in 2024. In Boston-Cambridge-Newton it ranked 22 of 664 lenders, and its share rose 0.2 points in both Hartford and Barnstable Town.
LMI (low- and moderate-income) borrowers took 11.5% of its loans, against 27.9% at peers, lower than nearly all of them. Its large loans, a third of them jumbo, are one possible reason, since they may go mainly to higher-income borrowers.
Purchases made up 29.7% of its loans, refinances 28.3%, home improvement 21.9% and other purposes 20.1%. All of it was conventional.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Needham Bank took 860 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 29.7% · Refinance 28.3% · Home improvement 21.9% · Other 20.1%
Conventional 100.0% · of 562 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Massachusetts | 552 | 98.2% |
| New Hampshire | 3 | 0.5% |
| Rhode Island | 3 | 0.5% |
| Alabama | 1 | 0.2% |
| Connecticut | 1 | 0.2% |
| Florida | 1 | 0.2% |
| Maine | 1 | 0.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Boston | 336 |
| Cambridge-Newton-Framingham | 173 |
| Barnstable Town | 15 |
| Providence-Warwick | 15 |
| Worcester | 12 |
| Rockingham County-Strafford County | 3 |
| Hartford-West Hartford-East Hartford | 1 |
| Huntsville | 1 |
| Naples-Marco Island | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493000NZZZU3GFIYL71 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 339773 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 326483 | 1992–2007 |
| Respondent ID (the HMDA filer code before 2018) | 2339773 | 2009–2017 |
Established 1 January 1892. Reported under HMDA 1992-2025.
Mergers, name changes, data editions and corrections: Needham Bank's data.
Needham Bank's data
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Needham Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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