Salem Co-operative Bank in Salem, New Hampshire (NH), MA
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Salem Co-operative Bank in Salem, New Hampshire (NH), MA
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Salem Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 27824
    Status: Active
    Federal Reserve ID: 670878
    Date Established: January 01, 1922
    WWW: http://www.salemcoop.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 2 (Domestic: 2, Interstate: Yes)
    OTS Docket #: 349
    FDIC's unique #: 40658
    Numeric code: 36
    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: November 08, 1954
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 3 South Broadway, Salem, NH 3079
    County: Rockingham
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Concord
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Lawrence, MA-NH (#4160)
    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: Rockingham County-Strafford County, NH (#40484)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $397.8 mil
    Equity capital: $56.4 mil
    Deposits held in domestic offices: $274.4 mil
    Return on assets (ROA): 0.83% ($3.3 mil)
    Quarterly return on assets: 0.78% ($3.1 mil)
    Return on Equity (ROE): 5.95% ($3.3 mil)
    Quarterly return on equity: 5.49% ($3.1 mil)
    Net income: $3.2 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 1.10% ($4,375.3 mil)
    Quarterly Pretax return on assets: 1.07% ($4,256.0 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
  • 43Total employees (full-time equivalent)
  • $397,755Total assets
  • $15,054Cash and due from depository institutions
  • $12,537Interest-bearing balances
  • $112,472Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $240,138Net loans & leases
  • $1,732Loan loss allowance
  • $0Trading account assets
  • $5,375Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $397,755Life insurance assets
  • $24,716All other assets
  • $341,346Total liabilities and capital
  • $274,434Total liabilities
  • $261,893Total deposits
  • $274,434Interest-bearing deposits
  • $94Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $60,624Trading liabilities
  • $0Other borrowed funds
  • $6,288Subordinated debt
  • $56,409All other liabilities
  • $56,409Total equity capital
  • $56,409Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $56,409Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $722Income earned, not collected on loans
  • $0Earning assets
  • $1,185Long-term assets (5+ years)
  • $365,147Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $390,087Volatile liabilities
  • $398,950Insider loans
  • $192,366FHLB advances
  • $393,961Loans and leases held for sale
  • $14,218Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $53,782Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $16,052Restructured Loans and leases
  • $6,745Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $16,646Total interest income
  • $5,590Total interest expense
  • $11,056Net interest income
  • $333Provision for loan and lease losses
  • $735Total noninterest income
  • $0Fiduciary activities
  • $11Service charges on deposit accounts
  • $0Trading account gains & fees
  • $724Additional noninterest income
  • $7,223Total noninterest expense
  • $3,750Salaries and employee benefits
  • $1,312Premises and equipment expense
  • $2,161Additional noninterest expense
  • $4,235Pre-tax net operating income
  • $58Securities gains (losses)
  • $1,059Applicable income taxes
  • $3,234Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,234Net income attributable to bank
  • $0Net charge-offs
  • $3,234Cash dividends
  • $20Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.64%Yield on earning assets
  • 1.56%Cost of funding earning assets
  • 3.08%Net interest margin
  • 0.20%Noninterest income to earning assets
  • 2.01%Noninterest expense to earning assets
  • 0.82%Net operating income to assets
  • 0.83%Return on assets (ROA)
  • 1.10%Pretax return on assets
  • 5.95%Return on equity (ROE)
  • 5.95%Retained earnings to average equity (YTD only)
  • 0.01%Net charge-offs to loans
  • 1665.00%Credit loss provision to net charge-offs
  • 228.40%Efficiency ratio
  • 61,259Assets per employee
  • 9.25%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.72%Loss allowance to noncurrent loans
  • 239.89%Noncurrent assets plus other real estate owned to assets
  • 0.18%Noncurrent loans to loans
  • 0.30%Net loans and leases to deposits
  • 87.50%Net loans and leases to core deposits
  • 91.53%Equity capital to assets
  • 14.18%Core capital (leverage) ratio
  • 13.65%Tier 1 risk-based capital ratio
  • 27.96%Total risk-based capital ratio
  • Memoranda
  • $29Average assets
  • $390,087Average earning assets
  • $54,352Average equity
  • $358,999Average loans

List of branches

  • 1 Massachusetts Branch as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    1518305284 Merrimack Street284 Merrimack Street, Methuen, MA 1844June 11, 2010Full Service Brick and Mortar
  • 1 New Hampshire Branch as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    040658Salem Co-Operative Bank3 South Broadway, Salem, NH 3079January 01, 1922Full Service Brick and Mortar

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