Webster Five

What Webster Five does

Webster Five Bank is a mutual community bank founded in 1868 and headquartered in Auburn, Massachusetts, serving consumers, small businesses, and middle-market commercial clients across Worcester County through seven physical branches and a digital banking platform. As a depositor-owned mutual chartered under Massachusetts savings bank law, the bank is owned by its depositors rather than external shareholders and operates under a full deposit insurance stack combining FDIC coverage with the Depositors Insurance Fund (DIF). The institution offers a full-spectrum product set — personal and business checking, savings, money market, and CDs; residential mortgages including FHA/VA/jumbo; home equity lines and loans; vehicle, personal, and credit-builder loans; SBA loans as a Preferred Lender; commercial real estate mortgages, revolving credit, term loans, and letters of credit; treasury management with Remote Deposit Capture, ACH origination, Positive Pay, lockbox, and merchant services through Elavon; and investment services through Raymond James Financial Services.

Revenue mechanics are split across net interest income on the loan and securities book, deposit account fees (waivable with balance thresholds, $0.50 per-item charges above tiered allowances of 150–300 items/month), interchange from credit cards issued through Elan Financial Services, treasury management service fees, and revenue-sharing from the Raymond James investment services referral channel. The technology stack is a standard commercial banking core with a digital banking front-end (iOS/Android apps, online banking, ClickSwitch migration tool, Autobooks invoicing); no proprietary AI/ML or differentiated technology assets are disclosed.

Distribution is hybrid: physical branches drive relationship-led acquisition and complex commercial sales, while digital channels serve self-serve consumer transactions. Go-to-market emphasizes local decision-making, bilingual staff, SBA Preferred Lender speed advantages, and community embeddedness through the Webster Five Foundation, which has distributed over $4.4 million historically and $88,000+ in a recent grant cycle across 19 nonprofits in MA and northeastern CT. Industry-specialized solutions target nonprofits, attorneys (IOLTA), CPAs, healthcare practices, real estate management, and manufacturers, providing verticalized advisory alongside commodity deposit and lending products.

Name

Webster Five

Legal name

Webster Five Bank

Website

https://web5.com

Company type

Private

Founded year

1868

Operating status

Operating

Headcount range

101–250 employees

Short description

Webster Five is a mutual community bank founded in 1868, serving consumers, small businesses, and commercial clients across Worcester County, MA through seven branches and a digital banking platform offering deposits, mortgages, SBA loans, treasury management, and investment services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industries

Microloans & Working Capital Loans (FSAKAGAA), Private Banking Lending (Securities-Backed, Real Estate, Structured Credit) (FSABADAE)

Keywords

• Community banking services
• Personal banking products
• Commercial lending services
• Mortgage and consumer loans
• Treasury management services

Headquarters

HQ city

Auburn

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Primary revenue from interest spreads on loans including commercial real estate mortgages, term loans, revolving credit lines, personal loans, mortgages, home equity loans, and vehicle loans. Business loans up to $250,000 for small businesses and SBA loan programs.
2. Deposit Account Fees: Monthly maintenance fees on certain accounts (waived with minimum balances), per-item fees exceeding free allowance, wire transfer fees, and ATM fees. Business checking includes tiered free item allowances (150-300 per month).
3. Treasury Management Services: Fees for remote deposit capture, ACH origination, fraud protection services, zero balance accounts, business bill pay, merchant services, lockbox services, and global trade services through partners.
4. Investment Services Revenue Share: W5 Investment Services partnership with Raymond James Financial Services generates referral and revenue-sharing income from investment products, managed accounts, and financial advisory services.
5. Credit Card Interchange: Commercial and personal credit cards issued through Elan Financial Services generate interchange revenue and referral fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels7 records

Core offering

Webster Five is a mutual community bank providing personal and business deposit products (checking, savings, money market, CDs), consumer and commercial lending (mortgages, home equity, personal, small business, SBA, and commercial loans), treasury management, credit cards, merchant services, and investment services delivered through a partnership with Raymond James. It serves consumers, small businesses, middle-market commercial clients, and institutional customers in Worcester County, Massachusetts and surrounding areas.

Product overview

Webster Five Bank is a mutual community bank serving Worcester County, MA, offering a comprehensive suite of banking products and services. The core offerings include personal and business checking/savings accounts, money market accounts, and certificates of deposit. Lending products span residential mortgages (including first-time homebuyer programs and special mortgage programs), commercial real estate financing, SBA loans, small business lending, personal loans (unsecured, secured, and credit-building options), home equity products, and vehicle loans. Treasury Management services provide business cash flow solutions including Remote Deposit Capture, ACH Origination, and fraud protection. Digital banking is available through online and mobile platforms with features including bill pay, mobile deposits, and account management. The bank also offers investment services through a Raymond James partnership, industry-specific banking solutions for nonprofits, CPAs, attorneys, real estate, healthcare, and manufacturing sectors, and maintains a charitable foundation.

Differentiator

Problem solved

Functional benefit

Brands

• W5 Investment Services: Investment services division aligned with Raymond James Financial Services, offering stocks, bonds, and comprehensive wealth management services

Products and services

• Personal Checking Accounts Tiered personal checking account options for individuals and households, used for everyday deposits, payments, and access to debit cards and online/mobile banking.
• Personal Savings, Money Market, and CDs Interest-bearing personal deposit products for households seeking to hold savings, manage liquidity, or lock in terms with certificates of deposit.
• Residential Mortgages and Home Equity Loans First-lien residential mortgage loans and home equity lending products for consumer borrowers purchasing or refinancing homes.
• Personal Loans and Consumer Credit Cards Unsecured personal installment loans and consumer credit cards (issued through Elan) for individual borrowers.
• Business Deposit Accounts Business checking, savings, and money market accounts for small businesses and commercial clients, supported by commercial digital banking.
• Treasury Management Services Cash management products and services for business and commercial clients, delivered through the bank's commercial digital banking platform.
• Small Business and SBA Loans Conventional and SBA-backed loans to small businesses, originated under the bank's SBA Preferred Lender authority.
• Commercial Loans Commercial lending products for middle-market and institutional clients in targeted industries including nonprofit, legal, healthcare, CPA, real estate, and manufacturing.
• Business Credit Cards and Merchant Services Business credit cards (Elan-issued) and merchant card acceptance services for small business and commercial customers.
• Investment and Wealth Advisory Services Investment advisory and wealth management services delivered through a partnership with Raymond James Financial Services, offered to consumer and commercial customers.

Quantifiable outcome

• 155+ years of continuous operation in Worcester County
• +2 more outcomes

Named customers6 records

Segments9 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Elan Financial ServicescoreChannel Partner/ Reseller/ DistributorElan Financial Services (subsidiary of U.S. Bank) is the creditor and issuer of Webster Five's commercial and personal credit cards. Provides zero fraud liability protection, 24/7 cardmember service, and the award-winning Commercial Rewards platform. Partnership enables Webster Five to offer business credit cards without issuing them directly.
• Raymond James Financial ServicescoreChannel Partner/ Reseller/ DistributorRaymond James Financial Services is the investment services partner for W5 Investment Services. Investment professionals are aligned with Raymond James to offer stocks, bonds, and full range of investment products. Securities offered through Raymond James member FINRA/SIPC.
• U.S. BankcoreTechnology or IntegrationU.S. Bank provides Global Trade Services through its Elavon's partnership for Webster Five business customers. Services include import/export documentary letters of credit, documentary collections, and international standby letters of credit for businesses engaged in international trade.
• ElavoncoreTechnology or IntegrationElavon, a subsidiary of U.S. Bank, provides merchant services for Webster Five business customers. Offers cost-effective, reliable processing of credit card, debit card, and electronic transactions including Visa, Mastercard, American Express, Discover, and gift cards.
• Federal Home Loan Bank of BostoncoreStrategic or Co-development PartnerWebster Five is a participating lender in FHLB Boston's Equity Builder Program (EBP). Grants available to homebuyers earning less than 80% of area median income (HUD). Funds can be used for down payment and closing cost assistance.
• MassHousingminorStrategic or Co-development PartnerMassHousing home ownership counseling course completion qualifies Webster Five first-time homebuyers for $500 closing cost credit. Partners to provide affordable homeownership programs.
• Fannie MaeminorStrategic or Co-development PartnerFannie Mae home ownership counseling course completion qualifies Webster Five first-time homebuyers for $500 closing cost credit. Supports affordable mortgage programs.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• East Boston Savings Bank: Mutual savings bank serving Greater Boston and surrounding Massachusetts communities with a similar community bank model focused on deposits, residential lending, and small business banking.
• Avidia Bank: Massachusetts-based mutual community bank serving Central Massachusetts and MetroWest with consumer, mortgage, and business banking products comparable to Webster Five's offering.
• Needham Bank: Massachusetts-based community bank serving consumers and businesses in Greater Boston suburbs, with a comparable relationship-driven, locally-decided commercial and consumer lending model.
• UniBank: Massachusetts community bank (formerly UniBank for Savings) serving Central Massachusetts with consumer and commercial banking — geographic and product overlap with Webster Five's Worcester County territory.
• Country Bank: Massachusetts community bank headquartered in Worcester County with consumer, mortgage, SBA, and commercial banking offerings directly overlapping Webster Five's customer base and product suite.
• Middlesex Savings Bank: Mutual savings bank serving communities west and northwest of Boston with consumer, mortgage, and business banking products — directly comparable mutual structure and Massachusetts footprint.
• Cambridge Bancorp (Cambridge Savings Bank): Massachusetts-based mutual savings bank providing consumer and commercial banking, wealth management, and residential lending to similar suburban Boston-area customers.
• Salem Five: Mutual savings bank headquartered in Salem, MA serving individuals and businesses across Eastern and Central Massachusetts with a comparable deposit-and-lending community banking model.

Broad incumbents

• Berkshire Hills Bancorp (Berkshire Bank): Regional community bank with branches across Massachusetts, Connecticut, Vermont, and New York offering consumer and commercial banking including small business and SBA lending.
• Rockland Trust (Independent Bank Corp): Massachusetts-based community bank with broad branch network across the state and into Rhode Island and Connecticut; larger regional incumbent overlapping heavily with Webster Five's SMB and consumer banking offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/websterfivebank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Webster Five