North Shore Bank, a Co-operative Bank Articles
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248 Andover St
Peabody, MA 01960
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North Shore Bank, a Co-operative Bank is an FDIC insured institution located in Peabody, MA. It was founded in 1888 and has approximately $1.67 billion in assets. Customers can open an account at one of its 13 branches.
FDIC Insured | Yes |
FDIC Certificate | # 26484 |
Date Established | 1888 |
Assets | $ 1,665.13 million |
Loans | $ 1,319.04 million |
Deposits | $ 1,413.72 million |
Capital | $ 209.69 million |
For a more detailed analysis of North Shore Bank, a Co-operative Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Your Current Location: Ohio, OH 43085
Checking Rates | APY | MIN | FEE | |
---|---|---|---|---|
Free Checking | 0.00% | $0 | $0.00 | Learn More |
Advantage Checking | 0.00% | $10,000 | $20.00 | Learn More |
Your Current Location: Ohio, OH 43085
Home Equity Rates | APR | Rate | Monthly Payment | |
---|---|---|---|---|
Line of Credit See Table |
8.50% | 7.75% | Varies | |
Compare with 7.49 RATE Line of Credit from Third Federal Savings and Loan
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Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.
North Shore Bank, a Co-operative Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Branch | Distance | Map | View Lobby Hours |
---|---|---|---|
658.26 | A | View Lobby Hours | |
658.27 | B | View Lobby Hours | |
658.60 | C | View Lobby Hours | |
660.67 | D | View Lobby Hours | |
660.97 | E | View Lobby Hours | |
663.42 | F | View Lobby Hours | |
663.96 | G | View Lobby Hours | |
664.09 | H | View Lobby Hours | |
664.93 | I | View Lobby Hours | |
666.05 | J | View Lobby Hours | |
666.63 | K | View Lobby Hours |
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The following ratios and data are available to help you better understand the financial condition of North Shore Bank, a Co-operative Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
North Shore Bank, a Co-operative Bank | U.S. Bank Average |
---|---|
1.93% | 4.48% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of June 30, 2024, North Shore Bank, a Co-operative Bank had $4,424,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $209,685,000 in equity and $19,827,000 in loans loss reserves. That gives it a Texas Ratio of 1.93%.
North Shore Bank, a Co-operative Bank | U.S. Bank Average |
---|---|
7.44% | 10.46% |
North Shore Bank, a Co-operative Bank has a Return on Equity of 7.44% versus the BestCashCow average of 10.46%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
North Shore Bank, a Co-operative Bank | U.S. Bank Average |
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12.59% | 10.84% |
North Shore Bank, a Co-operative Bank has a Capitalization of 12.59% versus the BestCashCow average of 10.84. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
As of June 30, 2024, North Shore Bank, a Co-operative Bank had assets of $1,665,126,000, loans of $1,319,037,000, and deposits of $1,413,718,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
ASSETS | |
---|---|
Cash & Balances due from depository institutions | $ 43.58 million |
Interest-bearing balances | $ 28.36 million |
Total securities | $ 223.24 million |
Federal funds sold and reverse repurchase | N.A. |
Net loans and leases | $ 1,319.04 million |
Loan loss allowance | $ 19.83 million |
Trading account assets | N.A. |
Bank premises and fixed assets | N.A. |
Other real estate owned | N.A. |
Goodwill and other intangibles | $ 3.30 million |
All other assets | $ 35.23 million |
Total Assets | $ 1,455.44 million |
LIABILITIES | |
---|---|
Total deposits | $ 1,413.72 million |
Interest-bearing deposits | $ 1,047.55 million |
Deposits held in domestic offices | $ 1,413.72 million |
% insured (estimated) | 66.90% |
Federal funds purchased and repurchase agreements | N.A. |
Trading liabilities | N.A. |
Other borrowed funds | $ 3.16 million |
Subordinated debt | N.A. |
All other liabilities | $ 12.87 million |
Total Liabilities | $ 1,455.44 million |
Shareholders’ Equity | $ 209.69 million |
INCOME AND EXPENSES | |
---|---|
Total Interest Income | $ 39.96 million |
Total Interest Expense | $ 12.92 million |
Net interest income | $ 27.05 million |
Provision for loan and lease losses | $ 0.10 million |
Total non interest income | $ 2.39 million |
Total non interest expense | $ 19.10 million |
Pre-tax Net Operating Income | $ 10.93 million |
The top three loan types in North Shore Bank, a Co-operative Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.
Compared to other banks in Massachusetts, North Shore Bank, a Co-operative Bank has a significantly higher percent of Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
% Loans |
% Comparison to Other Banks |
|||
---|---|---|---|---|
Low | Med | High | ||
1-4 Family Residential Loans | 28.64 | ✓ | ||
Multifamily Mortgages |
10.47 | ✓ | ||
Credit Card Loans | 0.00 | ✓ | ||
Consumer Auto Loans | 0.07 | ✓ | ||
Small Business Loans | 9.19 | ✓ | ||
Construction and Development Loans | 9.78 | ✓ | ||
Commercial Real Estate | 30.97 | ✓ | ||
Commercial and Industrial Loans | 11.27 | ✓ | ||
Farm Loans | 0.00 | ✓ |
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