All deposits are fully insured at StonehamBank through both FDIC and DIF.   

Each depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF). The combination of FDIC and DIF insurance provides customers of our bank with full deposit insurance on all their deposit accounts. No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF. Please Click Here to view our 2022 Annual Report. 


Chief Executive Officer

Edward has been part of the StonehamBank team since 2009 and is a valuable asset to the institution as Chief Executive Officer.  Serving in this role since 2018, Ed is responsible for the Bank’s strategic direction and management of the Bank and understands the impact and responsibility that his organization has on the communities that it serves.  He is motivated by seeing the dedication that the StonehamBank Team has outside of its branches and how their efforts can truly make a difference.  Ed currently serves as a Trustee on the Melrose Wakefield Hospital Board of Directors, as a Director on the Cooperative Bank Employee Retirement Association, as a Committee Member on the ICBA National Cybersecurity Committee, and was a former  President of the Stoneham Chamber of Commerce, Vice President of the Woburn Boys and Girls Club, and a Director for the Billerica Alliance.  Ed completed his undergraduate studies at  Babson College and is also a graduate of the ABA Stonier Graduate School of Banking.