Needham Bank in Massachusetts is facing an unusual predicament — too many loans, not enough deposits and too few branches.

The $1.4 billion-asset mutual is looking to nearly double its branch network to increase deposits and have better coverage in markets where it makes loans. Needham's new branches will feature some of the latest technology, including virtual tellers to help customers after hours.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.