Lowell Co-operative Bank in Lowell, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Lowell Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26467
    Status: Active
    Federal Reserve ID: 1006577
    Date Established: January 01, 1885
    WWW: http://www.lowellbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    OTS Docket #: 4930
    FDIC's unique #: 33122
    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: Mortgage Lending Specialization
    Date of Deposit Insurance: December 19, 1985
    Last Structure Change Effective Date: October 01, 2011
    Last Structure Change Process Date: Febuary 10, 2012
    Last Data Update: Febuary 10, 2012
    Data Source Date: April 05, 2012
  • Location
  • Address: 18 Hurd Street, Lowell, MA 1852
    County: Middlesex
    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): Lowell, MA-NH (#4560)
    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: Cambridge-Newton-Framingham, MA (#15764)
  • Financial Summary
  • Total assets: $168.6 mil
    Equity capital: $12.6 mil
    Deposits held in domestic offices: $120.7 mil
    Return on assets (ROA): 0.70% ($1.2 mil)
    Quarterly return on assets: 3.11% ($5.3 mil)
    Return on Equity (ROE): 8.68% ($1.1 mil)
    Quarterly return on equity: 41.22% ($5.4 mil)
    Net income: $0.9 mil
    Quarterly Net income: $1.2 mil
    Pretax return on assets: 0.03% ($50.6 mil)
    Quarterly Pretax return on assets: 1.28% ($2,157.5 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
  • 137Total employees (full-time equivalent)
  • $168,553Total assets
  • $3,468Cash and due from depository institutions
  • $440Interest-bearing balances
  • $2,114Securities
  • $4,677Federal funds sold & reverse repurchase agreements
  • $149,994Net loans & leases
  • $780Loan loss allowance
  • $0Trading account assets
  • $4,334Bank premises and fixed assets
  • $122Other real estate owned
  • $500Goodwill and other intangibles
  • $168,553Life insurance assets
  • $3,344All other assets
  • $155,933Total liabilities and capital
  • $120,749Total liabilities
  • $114,588Total deposits
  • $120,749Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $34,228Trading liabilities
  • $0Other borrowed funds
  • $956Subordinated debt
  • $12,620All other liabilities
  • $12,620Total equity capital
  • $12,620Total bank equity capital
  • $4,287Perpetual preferred stock
  • $124Common stock
  • $7,362Surplus
  • $847Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $39,498Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,609Income earned, not collected on loans
  • $0Earning assets
  • $442Long-term assets (5+ years)
  • $157,225Average Assets, year-to-date
  • $78,049Average Assets, quarterly
  • $131,834Volatile liabilities
  • $151,031Insider loans
  • $107,882FHLB advances
  • $145,903Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $12,160Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $12,612Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,336Total interest income
  • $1,592Total interest expense
  • $4,744Net interest income
  • $216Provision for loan and lease losses
  • $9,619Total noninterest income
  • $0Fiduciary activities
  • $74Service charges on deposit accounts
  • $0Trading account gains & fees
  • $9,545Additional noninterest income
  • $13,952Total noninterest expense
  • $10,063Salaries and employee benefits
  • $827Premises and equipment expense
  • $3,062Additional noninterest expense
  • $195Pre-tax net operating income
  • -$150Securities gains (losses)
  • -$875Applicable income taxes
  • $920Income before extraordinary items
  • $0Extraordinary gains - net
  • $920Net income attributable to bank
  • $0Net charge-offs
  • $920Cash dividends
  • $134Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.21%Yield on earning assets
  • 1.31%Cost of funding earning assets
  • 3.90%Net interest margin
  • 7.92%Noninterest income to earning assets
  • 11.48%Noninterest expense to earning assets
  • 0.81%Net operating income to assets
  • 0.70%Return on assets (ROA)
  • 0.03%Pretax return on assets
  • 8.68%Return on equity (ROE)
  • 8.68%Retained earnings to average equity (YTD only)
  • 0.12%Net charge-offs to loans
  • 161.19%Credit loss provision to net charge-offs
  • 3.07%Efficiency ratio
  • 97,138Assets per employee
  • 1.23%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.52%Loss allowance to noncurrent loans
  • 48.48%Noncurrent assets plus other real estate owned to assets
  • 1.03%Noncurrent loans to loans
  • 1.07%Net loans and leases to deposits
  • 124.22%Net loans and leases to core deposits
  • 139.52%Equity capital to assets
  • 7.49%Core capital (leverage) ratio
  • 8.33%Tier 1 risk-based capital ratio
  • 11.27%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $131,834Average earning assets
  • $10,602Average equity
  • $121,517Average loans

List of branches

  • 2 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    033122Lowell Co-Operative Bank18 Hurd Street, Lowell, MA 1852January 01, 1885Full Service Brick and Mortar
    1427037Rogers Street Branch691 Rogers Street, Lowell, MA 1852April 05, 2004Full Service Brick and Mortar

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