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Q2 2026 · read from the 30 June 2026 Call Report · United States · New England · Massachusetts, the state note

Middlesex Savings Bank

Natick, Massachusetts · $6.15B in assets · beside the 11 other Massachusetts banks between $3B and $10B

The filing

73.2%
Loans / deposits
1st of 12
44.4%
CRE / loans
10th of 12
0.33%
NPA / loans
3rd of 12

Middlesex Savings Bank is the fourth largest of the 12 Massachusetts banks nearest its size between $3B and $10B, with $6.15B in assets at 30 June 2026. Loans are 73.2% of deposits, the lowest in the cohort against a median of 102.9%, and equity is 13.1% of assets, 4th of 12. Loans grew +6.4% in the year, 6th of 12, and deposits fell 1.1%; the cohort's median loan growth is +5.1%.

Noncurrent loans are 0.33% of the book, 3rd of 12 against a median of 0.52%; 0.07% is 30 to 89 days past due, and the allowance covers them 2.7 times. Commercial real estate is 44.4% of loans, 10th of 12 against a median of 35.5%, and 196% of capital, below the 300% screen, with construction at 31% against the 100% screen.

Return on assets is 0.72%, 9th of 12 against a median of 0.91%, on an efficiency ratio of 68.2%, 7th of 12. Five years ago it was 0.38%. The question this shape raises is what the liquidity earns, and what a rate path does to the securities book and the deposit base.

Loans as a share of depositsMA banks $3B to $10B · 30 June 2026 · lower is stronger, listed first
median 102.9% MS Middlesex Savings Bank 73.2% TB Trunorth Bank 92.7% CC Cape Cod Five Cents Savings Bank 95.7% P Peoplesbank 100.3% NB Needham Bank 102.6% LB Leader Bank National Association 102.9% NB Northern Bank & Trust Co. 102.9% BC Bristol County Savings Bank 103.5% CS Cambridge Savings Bank 108.8% SF Salem Five Cents Savings Bank 113.0% IS Institution Savings Newburyport & 126.5% HI Hingham Institution for Savings 150.5%
Loans, year over yearMA banks $3B to $10B · 30 June 2026 · no better direction, largest first
median +5.1% NB Needham Bank +42.8% LB Leader Bank National Association +10.2% BC Bristol County Savings Bank +8.9% TB Trunorth Bank +7.5% SF Salem Five Cents Savings Bank +6.7% MS Middlesex Savings Bank +6.4% NB Northern Bank & Trust Co. +3.8% P Peoplesbank +3.1% IS Institution Savings Newburyport & +2.6% CS Cambridge Savings Bank +0.9% HI Hingham Institution for Savings -0.7% CC Cape Cod Five Cents Savings Bank -5.1%

SBA 7(a), FY2008 to FY2026

Middlesex Savings Bank is the 25th largest 7(a) lender into Massachusetts of 309, with $56M across 307 loans, 0.9% of everything approved in the state (Eastern Bank leads with $778M). 8 of its 10 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.

Where it lends in Massachusetts, and where it has gone quietshare movement, FY2023 to FY2025 against FY2020 to FY2022; outlined counties are on the book
Gaining shareLosing shareFlatGone quiet: nothing since FY2023Too thin to read a directionNo record
Every market on the book, largest firstrank and share among every lender in the county, FY2008 to FY2026
CountyApprovedRankShareTrend
Middlesex, MA$30M13th of 1901.9%+0.7 pts
Suffolk, MA$11M14th of 1301.8%quiet FY2022
Norfolk, MA$6M29th of 1450.8%-0.0 pts
Essex, MA$4M38th of 1290.5%quiet FY2022
Worcester, MA$3M48th of 1400.4%quiet FY2022
Hillsborough, NH$3M36th of 1170.6%quiet FY2020
Plymouth, MA$590K73rd of 1070.1%quiet FY2010
Bristol, MA$475K76th of 1120.1%quiet FY2013
Hampden, MA$200K69th of 830.1%quiet FY2010
Providence, RI$150K90th of 990.0%quiet FY2022
What it lends to: the five largest industries on the bookshare of book is concentration; share of sector and rank are position, among every 7(a) lender nationally
IndustryLoansApprovedShare of bookShare of sectorRank
Manufacturing40$13M22.6%0.03%390th of 2,246
Professional & technical services48$7M11.7%0.02%362nd of 1,955
Health care & social assistance53$7M11.6%0.01%469th of 2,172
Construction31$7M11.3%0.02%474th of 2,063
Transportation & warehousing2$5M8.5%0.04%312th of 1,563
7(a) lenders into Massachusetts, share of approvals since FY2008309 lenders on record; the ten largest and Middlesex Savings Bank
EB Eastern Bank 12.2% $778M · 8,606 loans LO Live Oak Banking Company 6.9% $442M · 354 loans RT Rockland Trust Company 6.7% $426M · 1,996 loans TB TD Bank, National Association 4.6% $295M · 2,208 loans CB Citizens Bank, National Associati… 4.1% $261M · 1,649 loans BB Beacon Bank and Trust 3.8% $246M · 1,377 loans WB Webster Bank National Association 3.1% $202M · 579 loans SF Salem Five Cents Savings Bank 2.8% $179M · 667 loans Ma Manufacturers and Traders Trust C… 2.2% $142M · 794 loans LB Leader Bank, National Association 2.0% $126M · 675 loans MS Middlesex Savings Bank 0.9% $56M · 307 loans

Commercial real estate against capital

Commercial real estate concentrationthe 2006 interagency screens against total risk-based capital; owner-occupied excluded; bold marks a screen met
Middlesex Savings BankRankCohort median
Total CRE against capital, the 300% screen196%5th of 12240%
Construction against capital, the 100% screen31%7th of 1229%
Construction and land development, share of loans7.1%9th of 125.0%
Non-owner-occupied nonfarm nonresidential, share of loans32.0%11th of 1219.4%
Total CRE, the guidance definition, share of loans44.4%10th of 1235.5%
CRE growth over 36 months, the third prong-0.6%3rd of 12+12.1%

Among its peers

Where it sits among its peersnavy: the stronger half of each column; amber: the weaker; darker at the ends
InstitutionAssetsROAEfficiencyNPA / loansNet charge-offsAllowance / loansLoans / depositsEquity / assets
Salem Five Cents Savings Bank$8.82B1.0%56.7%0.36%0.00%1.2%113.0%11.5%
Needham Bank$7.42B1.0%59.3%0.43%0.45%1.3%102.6%10.9%
Cambridge Savings Bank$6.98B0.4%75.9%1.26%0.09%1.0%108.8%10.2%
Middlesex Savings Bank$6.15B0.7%68.2%0.33%0.01%0.9%73.2%13.1%
Cape Cod Five Cents Savings Bank$5.62B0.7%71.8%0.47%0.02%0.5%95.7%10.6%
Institution Savings Newburyport &$5.56B1.1%74.0%0.04%0.00%0.3%126.5%12.5%
Leader Bank National Association$5.28B0.9%63.4%0.03%0.00%1.0%102.9%10.5%
Peoplesbank$4.62B0.4%72.0%0.57%0.21%0.6%100.3%8.9%
Hingham Institution for Savings$4.56B1.2%36.3%0.78%0.00%0.8%150.5%11.1%
Northern Bank & Trust Co.$3.38B1.9%47.1%2.07%0.07%2.2%102.9%14.1%
Trunorth Bank$3.32B1.0%60.9%0.58%0.12%0.5%92.7%14.7%
Bristol County Savings Bank$3.26B0.6%77.5%0.60%0.06%0.9%103.5%14.4%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Middlesex Savings BankCohort median
20212026Change20212026Change
Loans$3.20B$3.79B+18%$2.50B$4.10B+64%
Deposits$5.17B$5.18B+0%$2.60B$3.89B+49%
NPA / loans1.44%0.33%-1.11 pts0.45%0.52%+0.07 pts
Efficiency77.6%68.2%-9.4 pts61.0%65.8%+4.8 pts
ROA0.38%0.72%+0.34 pts1.26%0.91%-0.35 pts

This read was prepared for Middlesex Savings Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.

The full pack on Middlesex Savings Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.

Ask for the pack

Prepared 7 September 2026
Filing 30 June 2026
Cohort MA banks $3B to $10B
Institution www.middlesexbank.com

Public record only: FFIEC Call Report, 30 June 2026; FDIC data; cohort by state and asset band; SBA 7(a) FOIA release as of the 2026 file, loans credited to the institution holding them today. Computed from the institution's own Call Report and its peers' as published; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
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