KBRA Releases Surveillance Report for Northern Bancorp, Inc.

On October 6, 2023, KBRA affirmed the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Woburn, Massachusetts-based Northern Bancorp, Inc. KBRA also affirmed the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for the subsidiary, Northern Bank & Trust Company. The Outlook for all long-term ratings is Stable.

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