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


Reading Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26620
    Status: Active
    Federal Reserve ID: 1008674
    Date Established: January 01, 1886
    WWW: http://www.readingcoop.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 14595
    FDIC's unique #: 35344
    Numeric code: 15
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: 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: March 27, 1986
    Last Structure Change Effective Date: Febuary 22, 2011
    Last Structure Change Process Date: April 20, 2011
    Last Data Update: April 20, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 180 Haven Street, Reading, MA 1867
    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): 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: Cambridge-Newton-Framingham, MA (#15764)
  • History of Changes
  • Change in Primary Regulatory Agency
    Change in Supervisory Agency
    Institution Becomes a Member of FRS (Federal Reserve System)
  • Financial Summary
  • Total assets: $347.2 mil
    Equity capital: $32.1 mil
    Deposits held in domestic offices: $277.5 mil
    Return on assets (ROA): 0.73% ($2.5 mil)
    Quarterly return on assets: 1.37% ($4.8 mil)
    Return on Equity (ROE): 8.20% ($2.6 mil)
    Quarterly return on equity: 14.94% ($4.8 mil)
    Net income: $2.4 mil
    Quarterly Net income: $1.2 mil
    Pretax return on assets: 1.01% ($3,507.1 mil)
    Quarterly Pretax return on assets: 2.05% ($7,118.3 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
  • 62Total employees (full-time equivalent)
  • $347,235Total assets
  • $4,329Cash and due from depository institutions
  • $277Interest-bearing balances
  • $112,755Securities
  • $17,493Federal funds sold & reverse repurchase agreements
  • $189,193Net loans & leases
  • $1,353Loan loss allowance
  • $0Trading account assets
  • $6,693Bank premises and fixed assets
  • $836Other real estate owned
  • $0Goodwill and other intangibles
  • $347,235Life insurance assets
  • $15,936All other assets
  • $315,179Total liabilities and capital
  • $277,532Total liabilities
  • $238,822Total deposits
  • $277,532Interest-bearing deposits
  • $82Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $33,250Trading liabilities
  • $0Other borrowed funds
  • $4,397Subordinated debt
  • $32,056All other liabilities
  • $32,056Total equity capital
  • $32,056Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $32,056Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $648Income earned, not collected on loans
  • $0Earning assets
  • $1,162Long-term assets (5+ years)
  • $319,718Average Assets, year-to-date
  • $211,306Average Assets, quarterly
  • $333,560Volatile liabilities
  • $345,521Insider loans
  • $186,759FHLB advances
  • $340,638Loans and leases held for sale
  • $6,058Unused loan commitments
  • $6,058Tier 1 (core) risk-based capital
  • $30,325Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $28,249Restructured Loans and leases
  • $1,629Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $15,172Total interest income
  • $3,273Total interest expense
  • $11,899Net interest income
  • $1,103Provision for loan and lease losses
  • $1,397Total noninterest income
  • $0Fiduciary activities
  • $735Service charges on deposit accounts
  • $0Trading account gains & fees
  • $662Additional noninterest income
  • $9,615Total noninterest expense
  • $4,805Salaries and employee benefits
  • $1,170Premises and equipment expense
  • $3,640Additional noninterest expense
  • $2,578Pre-tax net operating income
  • $778Securities gains (losses)
  • $936Applicable income taxes
  • $2,420Income before extraordinary items
  • $0Extraordinary gains - net
  • $2,420Net income attributable to bank
  • $0Net charge-offs
  • $2,420Cash dividends
  • $1,022Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.94%Yield on earning assets
  • 1.07%Cost of funding earning assets
  • 3.87%Net interest margin
  • 0.45%Noninterest income to earning assets
  • 3.13%Noninterest expense to earning assets
  • 0.56%Net operating income to assets
  • 0.73%Return on assets (ROA)
  • 1.01%Pretax return on assets
  • 8.20%Return on equity (ROE)
  • 8.20%Retained earnings to average equity (YTD only)
  • 0.50%Net charge-offs to loans
  • 107.93%Credit loss provision to net charge-offs
  • 3.60%Efficiency ratio
  • 72,315Assets per employee
  • 5.60%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.71%Loss allowance to noncurrent loans
  • 208.80%Noncurrent assets plus other real estate owned to assets
  • 0.43%Noncurrent loans to loans
  • 0.34%Net loans and leases to deposits
  • 68.17%Net loans and leases to core deposits
  • 80.44%Equity capital to assets
  • 9.23%Core capital (leverage) ratio
  • 8.90%Tier 1 risk-based capital ratio
  • 16.24%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $333,560Average earning assets
  • $29,501Average equity
  • $307,156Average loans

List of branches

  • 6 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    035344Reading Co-Operative Bank180 Haven Street, Reading, MA 1867January 01, 1886Full Service Brick and Mortar
    2259770Wilmington Branch352 Middlesex Avenue, Wilmington, MA 1887December 01, 1963Full Service Brick and Mortar
    4362927North Reading Branch170 Park Street, North Reading, MA 1864January 28, 2002Full Service Brick and Mortar
    5438856Lowell Street Wilmington Branch230 Lowell Street, Wilmington, MA 1887March 09, 2005Full Service Retail
    6478581Woburn Branch300 Tradecenter, Woburn, MA 1801July 21, 2008Full Service Brick and Mortar
    7480643Reading Memorial High School Branch62 Oakland Road, Reading, MA 1867August 28, 2008Full Service Retail

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