North Shore Bank, a Co-operative Bank in Peabody, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


North Shore Bank, a Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26484
    Status: Active
    Federal Reserve ID: 161273
    Bank Holding Company (Regulatory Top Holder): North Shore Bancorp (RSSDID: 2621182, Location: Peabody, MA)
    Date Established: January 01, 1888
    WWW: http://www.northshore-bank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 8 (Domestic: 8, Interstate: No)
    OTS Docket #: 7963
    FDIC's unique #: 33151
    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: January 10, 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
  • Location
  • Address: 32 Main Street, Peabody, MA 1960
    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 Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $453.6 mil
    Equity capital: $46.6 mil
    Deposits held in domestic offices: $345.2 mil
    Return on assets (ROA): 0.71% ($3.2 mil)
    Quarterly return on assets: 0.66% ($3.0 mil)
    Return on Equity (ROE): 7.10% ($3.3 mil)
    Quarterly return on equity: 6.55% ($3.1 mil)
    Net income: $3.2 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 1.05% ($4,762.3 mil)
    Quarterly Pretax return on assets: 1.04% ($4,716.9 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
  • 95Total employees (full-time equivalent)
  • $453,551Total assets
  • $29,154Cash and due from depository institutions
  • $25,321Interest-bearing balances
  • $57,806Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $340,966Net loans & leases
  • $5,272Loan loss allowance
  • $0Trading account assets
  • $7,123Bank premises and fixed assets
  • $0Other real estate owned
  • $129Goodwill and other intangibles
  • $453,551Life insurance assets
  • $18,373All other assets
  • $406,948Total liabilities and capital
  • $345,164Total liabilities
  • $289,973Total deposits
  • $345,164Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 7410.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $51,300Trading liabilities
  • $0Other borrowed funds
  • $3,074Subordinated debt
  • $46,603All other liabilities
  • $46,603Total equity capital
  • $46,603Total bank equity capital
  • $0Perpetual preferred stock
  • $500Common stock
  • $42,496Surplus
  • $3,607Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $351Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $993Income earned, not collected on loans
  • $0Earning assets
  • $1,288Long-term assets (5+ years)
  • $424,093Average Assets, year-to-date
  • $174,114Average Assets, quarterly
  • $454,092Volatile liabilities
  • $459,767Insider loans
  • $330,523FHLB advances
  • $467,148Loans and leases held for sale
  • $8,581Unused loan commitments
  • $5,754Tier 1 (core) risk-based capital
  • $46,186Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $2,827Total unused commitments
  • $58,231Restructured Loans and leases
  • $2,455Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $21,087Total interest income
  • $4,820Total interest expense
  • $16,267Net interest income
  • $421Provision for loan and lease losses
  • $1,710Total noninterest income
  • $0Fiduciary activities
  • $649Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,061Additional noninterest income
  • $12,848Total noninterest expense
  • $7,922Salaries and employee benefits
  • $1,982Premises and equipment expense
  • $2,944Additional noninterest expense
  • $4,708Pre-tax net operating income
  • $59Securities gains (losses)
  • $1,564Applicable income taxes
  • $3,203Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,203Net income attributable to bank
  • $0Net charge-offs
  • $3,203Cash dividends
  • $242Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.98%Yield on earning assets
  • 1.14%Cost of funding earning assets
  • 3.84%Net interest margin
  • 0.40%Noninterest income to earning assets
  • 3.04%Noninterest expense to earning assets
  • 0.70%Net operating income to assets
  • 0.71%Return on assets (ROA)
  • 1.05%Pretax return on assets
  • 7.10%Return on equity (ROE)
  • 7.10%Retained earnings to average equity (YTD only)
  • 0.07%Net charge-offs to loans
  • 173.97%Credit loss provision to net charge-offs
  • 21.19%Efficiency ratio
  • 71,469Assets per employee
  • 4.77%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.52%Loss allowance to noncurrent loans
  • 530.92%Noncurrent assets plus other real estate owned to assets
  • 0.22%Noncurrent loans to loans
  • 0.29%Net loans and leases to deposits
  • 98.78%Net loans and leases to core deposits
  • 104.86%Equity capital to assets
  • 10.28%Core capital (leverage) ratio
  • 9.89%Tier 1 risk-based capital ratio
  • 13.97%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $454,092Average earning assets
  • $45,093Average equity
  • $423,291Average loans

List of branches

  • 8 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    033151North Shore Bank, A Co-Operative Bank32 Main Street, Peabody, MA 1960January 01, 1888Full Service Brick and Mortar
    2259485Danvers Branch48 Elm Street, Danvers, MA 1923January 01, 1970Full Service Brick and Mortar
    7291515Middleton Branch161 South Main Street, Middleton, MA 1949September 08, 1986Full Service Brick and Mortar
    9259489Highland Avenue Branch319 Highland Avenue, Salem, MA 1970Febuary 17, 1998Full Service Brick and Mortar
    11259491Appleseed's Square Branch50 Dodge Street, Beverly, MA 1915October 28, 1999Full Service Brick and Mortar
    14334360West Peabody Branch637 Lowell Street, Peabody, MA 1960May 13, 2000Full Service Retail
    16439887Staples Plaza Branch3-27 Paradise Road, Salem, MA 1970April 13, 2005Full Service Brick and Mortar
    17468992Andover Street Branch248 Andover Street, Peabody, MA 1960October 17, 2007Full Service Brick and Mortar

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