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


Wakefield Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26516
    Status: Active
    Federal Reserve ID: 330873
    Date Established: January 01, 1887
    WWW: http://www.wakefieldcoop.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 33218
    Numeric code: 42
    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: January 22, 1986
    Last Structure Change Effective Date: August 30, 2007
    Last Structure Change Process Date: August 31, 2007
    Last Data Update: August 31, 2007
    Data Source Date: April 05, 2012
  • Location
  • Address: 342 Main Street, Wakefield, MA 1880
    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)
  • Financial Summary
  • Total assets: $154.1 mil
    Equity capital: $12.7 mil
    Deposits held in domestic offices: $132.3 mil
    Return on assets (ROA): 0.61% ($0.9 mil)
    Quarterly return on assets: 0.47% ($0.7 mil)
    Return on Equity (ROE): 7.58% ($1.0 mil)
    Quarterly return on equity: 5.77% ($0.8 mil)
    Net income: $0.9 mil
    Quarterly Net income: $0.2 mil
    Pretax return on assets: 0.96% ($1,479.1 mil)
    Quarterly Pretax return on assets: 0.74% ($1,140.1 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
  • 30Total employees (full-time equivalent)
  • $154,071Total assets
  • $1,363Cash and due from depository institutions
  • $287Interest-bearing balances
  • $61,527Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $86,993Net loans & leases
  • $690Loan loss allowance
  • $0Trading account assets
  • $816Bank premises and fixed assets
  • $474Other real estate owned
  • $275Goodwill and other intangibles
  • $154,071Life insurance assets
  • $2,623All other assets
  • $141,368Total liabilities and capital
  • $132,269Total liabilities
  • $121,132Total deposits
  • $132,269Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $8,313Trading liabilities
  • $0Other borrowed funds
  • $786Subordinated debt
  • $12,703All other liabilities
  • $12,703Total equity capital
  • $12,703Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $11,045Surplus
  • $1,658Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $809Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,789Income earned, not collected on loans
  • $0Earning assets
  • $640Long-term assets (5+ years)
  • $148,807Average Assets, year-to-date
  • $85,062Average Assets, quarterly
  • $147,795Volatile liabilities
  • $152,606Insider loans
  • $63,652FHLB advances
  • $151,751Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $11,941Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $8,305Restructured Loans and leases
  • $1,818Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $5,838Total interest income
  • $1,312Total interest expense
  • $4,526Net interest income
  • $255Provision for loan and lease losses
  • $595Total noninterest income
  • $0Fiduciary activities
  • $97Service charges on deposit accounts
  • $0Trading account gains & fees
  • $498Additional noninterest income
  • $3,824Total noninterest expense
  • $2,130Salaries and employee benefits
  • $292Premises and equipment expense
  • $1,402Additional noninterest expense
  • $1,042Pre-tax net operating income
  • $374Securities gains (losses)
  • $520Applicable income taxes
  • $896Income before extraordinary items
  • $0Extraordinary gains - net
  • $896Net income attributable to bank
  • $0Net charge-offs
  • $896Cash dividends
  • $64Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.12%Yield on earning assets
  • 0.93%Cost of funding earning assets
  • 3.19%Net interest margin
  • 0.42%Noninterest income to earning assets
  • 2.70%Noninterest expense to earning assets
  • 0.44%Net operating income to assets
  • 0.61%Return on assets (ROA)
  • 0.96%Pretax return on assets
  • 7.58%Return on equity (ROE)
  • 7.58%Retained earnings to average equity (YTD only)
  • 0.08%Net charge-offs to loans
  • 398.44%Credit loss provision to net charge-offs
  • 20.27%Efficiency ratio
  • 74,634Assets per employee
  • 5.14%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.79%Loss allowance to noncurrent loans
  • 38.57%Noncurrent assets plus other real estate owned to assets
  • 1.47%Noncurrent loans to loans
  • 2.04%Net loans and leases to deposits
  • 65.77%Net loans and leases to core deposits
  • 67.66%Equity capital to assets
  • 8.24%Core capital (leverage) ratio
  • 7.87%Tier 1 risk-based capital ratio
  • 18.76%Total risk-based capital ratio
  • Memoranda
  • $20Average assets
  • $147,795Average earning assets
  • $11,819Average equity
  • $141,810Average loans

List of branches

  • 2 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    033218Wakefield Co-Operative Bank342 Main Street, Wakefield, MA 1880January 01, 1887Full Service Brick and Mortar
    2259639Lynnfield Branch596 Main Street, Lynnfield, MA 1940January 01, 1955Full Service Brick and Mortar

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