StonehamBank
StonehamBank is a Massachusetts-chartered mutual co-operative bank founded in 1891, serving retail consumers, homebuyers, small-to-medium businesses, and non-profits on Massachusetts's North Shore through branches, digital channels, and a full suite of deposit, mortgage, and commercial lending products.
- Company typePrivate
- Founded1891
- HeadquartersStoneham, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What StonehamBank does
StonehamBank is a Massachusetts-chartered mutual co-operative bank headquartered in Stoneham, MA, that has operated continuously since 1891 and serves retail consumers, homebuyers, small-to-medium businesses, commercial real estate developers, and non-profit organizations across the North Shore of Massachusetts through a network of branches and digital channels. Its product set spans multiple checking tiers (Optimum Bundle, Optimum One, Optimum Plus, Simple, and Student), savings vehicles (Optimum Savings, Money Market, CDs, IRAs), and a full mortgage and home-equity suite including FHA, VA, MassHousing, ONE Mortgage, Fannie Mae HomePath, and HEAT Loan programs. Commercial offerings include commercial real estate loans ($50K-$4M+), term loans, construction and rehabilitation lending, franchise remodeling financing, lines of credit, cash management (ACH, remote deposit capture, positive pay, wire, ZRent), business credit cards, and merchant services delivered through First Nationwide Payments. Digital delivery is enabled through a COCC/Fiserv core and mobile platform, Eltropy-powered video, chat, and text banking with co-browsing, Zelle person-to-person payments, and digital wallet integration.
The bank's primary revenue source is net interest income earned on its loan portfolio funded by deposits, supplemented by deposit-account fees, interchange, wires, merchant services fees, financial-planning referral income, and foreign currency and precious metals sales. Distribution combines physical branch presence, video banking, lending-officer direct sales, online and mobile self-service, 24/7 telephone banking, and a multi-channel marketing mix leveraging community engagement (the Optimum Pledge commits up to 10% of profits to community causes), paid digital advertising, and third-party validation through Forbes Best in Massachusetts 2024, Bauer Financial 5-Star, Boston Globe Top Places to Work 2024, and the AARP BankSafe Award. StonehamBank has no disclosed venture or private-equity ownership and is not publicly traded; a petition to reorganize into a Mutual Holding Company structure was filed with the Massachusetts Division of Banks and is subject to a depositor vote scheduled for June 25, 2026.
StonehamBank firmographics
Firmographics- Name
- StonehamBank
- Legal name
- StonehamBank - A Co-operative Bank
- Website
- https://stonehambank.com
- Company type
- Private
- Founded year
- 1891
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- StonehamBank is a Massachusetts-chartered mutual co-operative bank founded in 1891, serving retail consumers, homebuyers, small-to-medium businesses, and non-profits on Massachusetts's North Shore through branches, digital channels, and a full suite of deposit, mortgage, and commercial lending products.
- Ownership category
- akta.pro rank
StonehamBank industry classification
Industry- Product category
- Community Banking
- NAICS
- Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218), Commercial Banking (522110)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE), Real Estate (Commercial Property, REITs) (FSABACAH)
Keywords
Where StonehamBank is headquartered
LocationHeadquarters
- HQ city
- Stoneham
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
StonehamBank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
Revenue model
- Net Interest Income: StonehamBank earns the majority of its revenue through the spread between interest earned on loans (mortgages, commercial real estate, construction, consumer loans, HELOCs) and interest paid on deposits (checking, savings, money market, CDs, IRAs). This is the primary revenue driver for a traditional co-operative bank.
- Non-Interest Income - Fee-Based Services: Revenue generated from fees on deposit accounts (monthly maintenance, overdraft, ATM surcharges), credit card interchange, wire transfers, night depository services, and business cash management services.
- Merchant Services Revenue: Revenue from merchant services through First Nationwide Payments partnership, processing credit/debit card transactions for business customers.
- Financial Planning and Insurance Services: Stoneham Financial Services provides financial planning, investment, and insurance products to bank customers, generating referral and service fees.
- Foreign Currency and Precious Metals: Sale of foreign currency and precious metals to retail and business customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Optimum Bundle - High-yield checking and savings bundle for new customers |
| Subscription | Monthly | Optimum One Checking - Basic checking with fee waiver options |
| Subscription | Monthly | Optimum Plus Checking - Interest-bearing checking with premium perks |
| Subscription | Monthly | Optimum Student Checking - Free checking for students aged 13-22 |
| Subscription | Monthly | Simple Checking - Basic no-frills checking |
| Subscription | Pay-as-you-go | Commercial Real Estate Loan - $50,000 to $4,000,000+ |
| Subscription | Pay-as-you-go | Term Loans - $10,000 to $1,000,000+ |
| Subscription | Pay-as-you-go | Franchise Remodeling Financing - 100% of remodeling costs |
Go-to-market motion2 records
Distribution channels8 records
Marketing channels7 records
StonehamBank product offering
Product offeringCore offering
StonehamBank is a mutual co-operative community bank that provides personal banking (checking, savings, money market, CDs, IRAs, debit and credit cards) and business banking (business checking/savings, commercial real estate loans, term loans, construction loans, lines of credit, and cash management services such as ACH, remote deposit capture, and merchant services). The bank also originates residential mortgages, including first-time homebuyer programs, and offers digital banking channels (online, mobile, video, chat/text) supported by a North Shore Massachusetts branch network.
Product overview
StonehamBank is a community bank offering a comprehensive suite of banking products and services across personal and business segments. The bank's core offerings include multiple checking account options (Optimum Bundle, Optimum One, Optimum Plus, Simple, and Student Checking), savings vehicles (Optimum Savings, Money Market, CDs, and IRAs), and credit products (mortgages, home equity, and credit cards). Business banking services encompass commercial lending (real estate, term loans, construction, franchise financing), cash management (ACH, remote deposit capture, merchant services, fraud prevention), and business deposit accounts. Digital banking capabilities include online and mobile banking, video banking, chat/text banking, and digital wallet integration (Apple Pay, Google Pay, Zelle). The bank operates primarily in Massachusetts, with recent expansion into North Reading.
Differentiator
Problem solved
Functional benefit
Brands
- Optimum Bundle: High-yield checking and savings bundle product offering 1.00% APY on checking and 3.75% APY on savings when requirements are met.
- Optimum One Checking
- Optimum Plus Checking
- Optimum Student Checking
- Optimum Savings
- Stoneham Financial Services
Products and services
- Optimum Bundle
Quantifiable outcome
- 1.00% APY earned on Optimum Bundle Checking (effective 11/24/2025)
- +4 more outcomes
Companies that use StonehamBank
Customer profileSegments5 records
StonehamBank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature5 records
StonehamBank partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- First Nationwide PaymentscoreStonehamBank has partnered with First Nationwide Payments, an industry leader in payment processing solutions, to offer merchant services to business customers. The partnership enables businesses to easily process credit/debit card transactions and online and mobile payments, increasing sales and decreasing operating expenses.
- EltropycoreEltropy provides the text and chat messaging platform powering StonehamBank's digital communication services, including video banking, text banking, and co-browsing capabilities. Eltropy's technology enables secure messaging, identity verification through document upload, and real-time communication between bank representatives and customers.
- Fiserv (COCC)coreFiserv (through COCC) provides the core banking technology platform and mobile banking Card Controls application powering StonehamBank's digital banking infrastructure. The Card Controls app enables customers to manage debit cards, receive alerts, and monitor account activity from mobile devices.
- MassHousingcoreStonehamBank is a MassHousing approved lender, offering MassHousing programs including down payment assistance up to $30,000, affordable fixed-rate mortgage loans, and MI Plus mortgage insurance that covers mortgage payments for up to six months during job loss in the first ten years. Purchase and rehab programs are also available.
- Early Warning Services (Zelle)coreStonehamBank offers Zelle person-to-person payment services through a partnership with Early Warning Services, LLC, enabling customers to send money in minutes to friends and family using email or U.S. mobile numbers.
- Google and MicrosoftminorStonehamBank uses Google and Microsoft advertising tools for analytics and online advertising, collecting anonymous usage data to improve services. These platforms power search and display advertising campaigns.
- Department of Housing and Urban Development (HUD)coreStonehamBank operates as an Equal Housing Lender under federal fair lending laws regulated by HUD. The bank is committed to non-discrimination in all lending activities and complies with the Federal Fair Housing Act and Equal Credit Opportunity Act.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
StonehamBank competitors and assessment
Company assessmentDirect peers
- Brookline Bank: Massachusetts community bank part of Brookline Bancorp; offers the full suite of deposit, mortgage, and commercial lending products to Greater Boston-area consumers and SMBs — same target market as StonehamBank.
- Century Bank: Massachusetts community bank focused on Greater Boston-area consumers and small businesses, with a comparable product mix including deposit accounts, mortgage, and commercial lending.
- Cambridge Savings Bank: Massachusetts mutual savings bank with deeper commercial-banking capabilities but similar community-bank DNA, mutual charter, and focus on Greater Boston-area consumers, homebuyers, and small businesses.
- Salem Five: Massachusetts-headquartered mutual savings bank serving the North Shore and Merrimack Valley. Directly overlaps StonehamBank's North Shore consumer/business deposit and mortgage franchise.
- East Cambridge Savings Bank: Mutual savings bank serving the Greater Boston/Cambridge region. Comparable in Massachusetts community banking franchise, mutual ownership model, and full-service retail/business offering to StonehamBank.
- Reading Cooperative Bank: A mutual co-operative bank headquartered in Reading, MA — geographically adjacent to StonehamBank and operating under the same Massachusetts co-operative bank charter. Closest comparable in size, charter type, product scope, and target market.
Broad incumbents
- Eastern Bank: Largest mutual community bank in Massachusetts, with broad consumer, wealth, and commercial banking across New England. Operates in the same geography and customer segments as StonehamBank but at meaningfully larger scale.
- Citizens Financial Group: Major regional bank with significant Massachusetts retail and commercial presence. Competes for the same depositors, homebuyers, and SMBs as StonehamBank but offers a much broader product suite and balance sheet scale.
- Rockland Trust (Independence Bank Corp): Massachusetts-headquartered community bank serving southeastern MA and Greater Boston. Same regional community-bank positioning as StonehamBank but operates as a larger, publicly traded franchise.
Emerging players
- Bluevine: Digital-first small business banking and lending platform. Emerging competitor attacking StonehamBank's small business checking, cash management, and working-capital lending franchise via superior digital UX.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
StonehamBank social profiles
Digital presenceStonehamBank compliance and trust
Trust signalCompliance8 records
StonehamBank financial estimates
Financial estimateRevenue estimate
Valuation estimate
StonehamBank leadership team
Management profileNumber of profiles
StonehamBank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
StonehamBank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about StonehamBank
What does StonehamBank do?
StonehamBank is a mutual co-operative community bank that provides personal banking (checking, savings, money market, CDs, IRAs, debit and credit cards) and business banking (business checking/savings, commercial real estate loans, term loans, construction loans, lines of credit, and cash management services such as ACH, remote deposit capture, and merchant services). The bank also originates residential mortgages, including first-time homebuyer programs, and offers digital banking channels (online, mobile, video, chat/text) supported by a North Shore Massachusetts branch network.
Is StonehamBank a public or private company?
StonehamBank is a private company. It is currently operating.
When was StonehamBank founded?
StonehamBank was founded in 1891. It employs 101 to 250 people.
Where is StonehamBank based?
StonehamBank is headquartered in Stoneham, United States, in the North America region.
How does StonehamBank make money?
Five revenue lines are on record. Net Interest Income is the primary driver. The others are non-Interest Income - Fee-Based Services, merchant Services Revenue, financial Planning and Insurance Services and foreign Currency and Precious Metals.
Who are StonehamBank's main competitors?
Direct peers on record are Brookline Bank, Century Bank, Cambridge Savings Bank, Salem Five, East Cambridge Savings Bank and Reading Cooperative Bank. Broad incumbents are Eastern Bank, Citizens Financial Group and Rockland Trust (Independence Bank Corp). Bluevine is listed as an emerging player.
Does StonehamBank have an API?
No public API is recorded for StonehamBank.
What industry is StonehamBank in?
StonehamBank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAE, Branch & In-Person Banking (Teller/ATM Networks). Its NAICS code is 5221 and its SIC code is 6022.