Statement on recent banking disruptionIn light of the recent trouble that a few select banks have experienced, we want to reaffirm that Main Street Bank continues to be safe, stable, and secure for our customers’ deposits. All deposits held at Main Street Bank are insured in their entirety with FDIC (Federal Deposit Insurance Corporation) and DIF (Depositors Insurance Fund). No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF. For more information about DIF coverage, visit our deposit insurance page.

Deposit Insurance

Maintaining a Strong & Diverse Portfolio

As a local community bank, Main Street Bank is well-capitalized with over $1.4 billion in assets and posted over $10 million in Net Income for 2022. We maintain an investment portfolio of no more than 20% of our assets, and our investments are predominantly in home mortgage securities and municipally financed projects, such as building schools and bridges. Our loan portfolio, which counts for most of our assets, is made up of home mortgages in Massachusetts and commercial loans mainly secured by real estate in Massachusetts.

Main Street Bank has a long history and has served the Massachusetts Commonwealth since 1860. This longevity is indicative of our commitment to strong lending practices, safe investments, and a diverse investment portfolio.

Rated 5 Stars by Trusted Independent Institution

Main Street Bank has also been recognized as a 5-star rated superior institution by Bauer Financial, a third-party that measures financial institutions’ performance based on capital ratio, profitability/loss trend, evaluating the level of delinquent loans, charge offs and repossessed assets, the market versus book value of the investment portfolio, regulatory supervisory agreements, the community reinvestment rating (CRA), historical data and liquidity. 5-star institutions are rated at the highest quality for safety and soundness. Learn more about Bauer Financial ratings directly on their website:

Massachusetts’ Banks Remain Sturdy

The banking industry in the United States remains strong and a source of strength. There are 132 FDIC insured banks of all sizes operating nearly 2000 branches in communities across the Commonwealth of Massachusetts. They are strong, diversified, well-capitalized and stand ready to serve the banking and credit needs of consumers and businesses, including those impacted by recent events.

The recent bank closures are the first in this country in almost three years, a testament to the resiliency of America’s banks and their ability to support the economy and the communities they serve despite a global pandemic, rising inflation, and an unprecedented increase in interest rates.

We Remain Committed to our Customers

Our customers’ support is the reason we have been around since 1860. You will continue to have direct access to our team, including our leadership, when you have questions or need help.

Meet Our Leadership Team

Thank you for your continued loyalty and trust in us.

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