Beverly Co-operative Bank in Beverly, Massachusetts (MA)

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Beverly Co-operative Bank routing number info

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Beverly Co-operative Bank
GeneralFDIC Certificate #: 26601
Status: Active
Federal Reserve ID: 946171
Bank Holding Company (Regulatory Top Holder): Beverly Financial, Mhc (RSSDID: 3197835, Location: Beverly, MA)
Date Established: January 01, 1888
Trust Powers Granted: No
Bank Charter Class: Savings banks, state charter, supervised by the FDIC
Offices: 6 (Domestic: 6, Interstate: No)
OTS Docket #: 9804
FDIC's unique #: 35322
Numeric code: 41
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: March 25, 1986
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 254 Cabot Street, Beverly, MA 1915
County: Essex
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: North Boston
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
Core Based Statistical Division: Peabody, MA (#37764)
History of ChangesName Change
Merge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $297.6 mil
Equity capital: $23.6 mil
Deposits held in domestic offices: $245.9 mil
Return on assets (ROA): 0.61% ($1.8 mil)
Quarterly return on assets: 0.79% ($2.4 mil)
Return on Equity (ROE): 8.02% ($1.9 mil)
Quarterly return on equity: 10.22% ($2.5 mil)
Net income: $1.8 mil
Quarterly Net income: $0.6 mil
Pretax return on assets: 0.99% ($2,946.6 mil)
Quarterly Pretax return on assets: 1.32% ($3,928.8 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)59
Total assets$297,634
Cash and due from depository institutions$30,648
Interest-bearing balances$24,935
Federal funds sold & reverse repurchase agreements$1,119
Net loans & leases$222,280
Loan loss allowance $3,148
Trading account assets$0
Bank premises and fixed assets$5,868
Other real estate owned$132
Goodwill and other intangibles$183
All other assets$11,544
Life insurance assets$297,634
Total liabilities and capital$274,032
Total liabilities$245,903
Total deposits$204,953
Interest-bearing deposits$245,903
Deposits held in domestic offices$85
% insured (estimated)1854.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$21,542
Other borrowed funds $3,000
Subordinated debt $1,733
All other liabilities $23,602
Total equity capital$23,602
Total bank equity capital$23,602
Perpetual preferred stock$0
Common stock$1
Undivided profits $17,601
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $2,397
Earning assets $0
Long-term assets (5+ years) $795
Average Assets, year-to-date $274,194
Average Assets, quarterly $84,978
Volatile liabilities $300,331
Insider loans $300,138
FHLB advances $185,750
Loans and leases held for sale $300,564
Unused loan commitments $3,894
Tier 1 (core) risk-based capital $1,331
Tier 2 risk-based capital $23,410
Total risk weighted assets $0
Total unused commitments $2,563
Restructured Loans and leases $24,473
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $13,305
Total interest expense $3,314
Net interest income $9,991
Provision for loan and lease losses $303
Total noninterest income $1,381
Fiduciary activities $0
Service charges on deposit accounts $377
Trading account gains & fees $0
Additional noninterest income $1,004
Total noninterest expense $8,188
Salaries and employee benefits $4,115
Premises and equipment expense $1,079
Additional noninterest expense $2,994
Pre-tax net operating income $2,881
Securities gains (losses) $100
Applicable income taxes $1,161
Income before extraordinary items $1,820
Extraordinary gains - net $0
Net income attributable to bank $1,820
Net charge-offs $0
Cash dividends $1,820
Sale, conversion, retirement of capital stock, net $230
Net operating income $198
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.80%
Cost of funding earning assets 1.20%
Net interest margin 3.60%
Noninterest income to earning assets 0.50%
Noninterest expense to earning assets 2.95%
Net operating income to assets 0.58%
Return on assets (ROA) 0.61%
Pretax return on assets 0.99%
Return on equity (ROE) 8.02%
Retained earnings to average equity (YTD only) 7.14%
Net charge-offs to loans 0.10%
Credit loss provision to net charge-offs 131.74%
Efficiency ratio13.84%
Assets per employee$71,245
Cash dividends to net income (YTD only)5.04%
Condition Ratios (%)
Loss allowance to loans 10.88%
Loss allowance to noncurrent loans 1.40%
Noncurrent assets plus other real estate owned to assets 131.33%
Noncurrent loans to loans 0.85%
Net loans and leases to deposits1.06%
Net loans and leases to core deposits 90.39%
Equity capital to assets 97.82%
Core capital (leverage) ratio 7.93%
Tier 1 risk-based capital ratio 7.79%
Total risk-based capital ratio 12.60%
Average assets$15
Average earning assets$300,331
Average equity $22,705
Average loans $277,166
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6 Massachusetts Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
035322Beverly Co-Operative Bank254 Cabot Street, Beverly, MA 1915January 01, 1888Full Service Brick and Mortar
2259743Beverly Branch63 Dodge Street, Beverly, MA 1915June 22, 1977Full Service Brick and Mortar
3259744Enon Street Branch48 Enon Street, Beverly, MA 1915June 01, 1995Full Service Brick and Mortar
4364182Cherry Hill Drive Branch108 Cherry Hill Drive, Beverly, MA 1915June 11, 2002Limited Service Facility
5423056Electric Insurance Company Branch152 Conant Street, Beverly, MA 1915September 15, 2003Limited Service Retail
6429559Salem Branch73 Lafayette Street, Salem, MA 1970May 27, 2004Full Service Brick and Mortar
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