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

Northern Bank & Trust Co.

Woburn, Massachusetts · $3.38B in assets · beside the 11 other Massachusetts banks between $3B and $10B

The filing

2.07%
NPA / loans
12th of 12
1.89%
ROA
1st of 12
47.1%
Efficiency
2nd of 12

Northern Bank & Trust Co. is the ninth largest of the 12 Massachusetts banks nearest its size between $3B and $10B, with $3.38B in assets at 30 June 2026. Loans are 102.9% of deposits, 8th of 12 against a median of 102.7%, and equity is 14.1% of assets, 3rd of 12. Loans grew +3.8% in the year, 6th of 12, and deposits grew 5.8%; the cohort's median loan growth is +3.5%.

Noncurrent loans are 2.07% of the book, the highest in the cohort against a median of 0.57%; 1.02% is 30 to 89 days past due, and the allowance covers them 1.1 times. Commercial real estate is 32.3% of loans, 6th of 12 against a median of 33.5%, and 181% of capital, below the 300% screen, with construction at 68% against the 100% screen.

Return on assets is 1.89%, the highest in the cohort against a median of 0.92%, on an efficiency ratio of 47.1%, 2nd of 12. Five years ago it was 2.44%. The question is where the nonperforming loans sit by category, and whether the allowance and the capital behind them hold under a loss path.

Nonperforming loans, share of loansMA banks $3B to $10B · 30 June 2026 · lower is stronger, listed first
median 0.57% LB Leader Bank National Association 0.03% IS Institution Savings Newburyport & 0.04% MS Middlesex Savings Bank 0.33% NB Needham Bank 0.43% CC Cape Cod Five Cents Savings Bank 0.47% P Peoplesbank 0.57% TB Trunorth Bank 0.58% BC Bristol County Savings Bank 0.60% Uf Unibank for Savings 0.62% HI Hingham Institution for Savings 0.78% CS Cambridge Savings Bank 1.26% NB Northern Bank & Trust Co. 2.07%
Loans, year over yearMA banks $3B to $10B · 30 June 2026 · no better direction, largest first
median +3.5% NB Needham Bank +42.8% LB Leader Bank National Association +10.2% BC Bristol County Savings Bank +8.9% TB Trunorth Bank +7.5% MS Middlesex Savings Bank +6.4% NB Northern Bank & Trust Co. +3.8% P Peoplesbank +3.1% Uf Unibank for Savings +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

Northern Bank & Trust Co. is the 27th largest 7(a) lender into Massachusetts of 309, with $52M across 98 loans, 0.8% of everything approved in the state (Eastern Bank leads with $778M). 11 of its 15 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$27M15th of 1901.7%+0.1 pts
Essex, MA$9M20th of 1291.1%-0.3 pts
Barnstable, MA$5M15th of 841.5%+0.1 pts
Suffolk, MA$4M29th of 1300.7%-1.5 pts
Norfolk, MA$4M42nd of 1450.6%quiet FY2021
Worcester, MA$3M56th of 1400.3%quiet FY2022
Hamilton, FL$685K6th of 96.2%quiet FY2022
Dukes, MA$500K10th of 222.7%quiet FY2022
Rockingham, NH$315K87th of 1080.1%quiet FY2022
Lamoille, VT$205K14th of 200.6%quiet FY2022
Durham, NC$180K78th of 890.0%quiet FY2022
Gwinnett, GA$147K163rd of 1690.0%quiet FY2022
Collin, TX$134K251st of 2610.0%quiet FY2022
2 smaller markets not shown.
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
Accommodation & food services27$13M24.8%0.02%497th of 2,596
Other services16$9M16.7%0.03%376th of 2,248
Professional & technical services10$7M12.8%0.02%368th of 1,955
Retail trade9$6M11.8%0.01%637th of 2,589
Health care & social assistance2$3M6.4%0.01%686th of 2,172
7(a) lenders into Massachusetts, share of approvals since FY2008309 lenders on record; the ten largest and Northern 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 NB Northern Bank and Trust Company 0.8% $52M · 98 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
Northern BankRankCohort median
Total CRE against capital, the 300% screen181%5th of 12212%
Construction against capital, the 100% screen68%11th of 1226%
Construction and land development, share of loans12.1%12th of 124.2%
Non-owner-occupied nonfarm nonresidential, share of loans16.3%5th of 1218.3%
Total CRE, the guidance definition, share of loans32.3%6th of 1233.5%
CRE growth over 36 months, the third prong+3.3%5th of 12+7.5%

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
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%
Unibank for Savings$3.11B1.0%58.1%0.62%0.01%1.4%83.6%7.6%
Five years, 2021 to 2026same quarter, five years apart; dollars as growth, ratios in points
Northern BankCohort median
20212026Change20212026Change
Loans$2.24B$2.91B+30%$2.29B$3.86B+69%
Deposits$2.17B$2.82B+30%$2.46B$3.44B+40%
NPA / loans0.82%2.07%+1.24 pts0.45%0.57%+0.13 pts
Efficiency30.5%47.1%+16.6 pts62.2%65.8%+3.6 pts
ROA2.44%1.89%-0.55 pts1.12%0.92%-0.20 pts

This read was prepared for Northern Bank & Trust Co.'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 Northern Bank & Trust Co. 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.nbtc.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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