Bank of New England

Headquarters

31 Pelham Road
Salem, NH 03079
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 1.55% →
1-Year CD 0.25% 1.35% →
2-Year CD 0.55% 1.35% →
5-Year CD 0.85% 1.60% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Bank of New England is an FDIC insured institution located in Salem, NH. It was founded in 1983 and has approximately $0.96 billion in assets. Customers can open an account at one of its 9 branches.

FDIC Insured Yes
FDIC Certificate # 24540
Date Established 1983
Assets $ 956.04 million
Loans $ 873.10 million
Deposits $ 796.16 million
Capital $ 148.79 million
 

For a more detailed analysis of Bank of New England's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - June 6, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $10 - Learn More
Money Market
0.05% $10 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.50% $500 - Learn More
6 Mo CD
0.10% $500 - Learn More
12 Mo CD
0.25% $500 - Learn More
18 Mo CD
0.40% $500 - Learn More
24 Mo CD
0.55% $500 - Learn More
30 Mo CD
0.55% $500 - Learn More
36 Mo CD
0.70% $500 - Learn More
48 Mo CD
0.85% $500 - Learn More
60 Mo CD
0.85% $500 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.55% $500 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $10 - Learn MoreShow Less

Loan Rates - June 6, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Bank of New England

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.998% 3.875% 1.00 $3,750 $1,176 Learn More
Rocket Mortgage
NMLS ID: 3030
3.872% 3.750% 1.00 $3,750 $1,158 Learn More
AimLoan.com
NMLS ID: 2890
License#: MC-3098
3.019% 3.000% 0.25 $625 $1,055 Learn More

Note to Bank of New England
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Branches

Bank of New England branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Bank of New England Locations


Financial Details

Bank of New England Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Bank of New England. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
More Info
PenFed Credit Union
PenFed Credit Union
3.750 %
$0 Learn More
More Info
Bank of New England U.S. Bank Average
0.87% 6.51%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2019, Bank of New England had $1,370,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $148,791,000 in equity and $9,369,000 in loans loss reserves. That gives it a Texas Ratio of 0.87%.

Return on Equity
Bank of New England U.S. Bank Average
11.98% 9.41%

Bank of New England has a Return on Equity of 11.98% versus the BestCashCow average of 9.41%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Bank of New England U.S. Bank Average
15.56% 12.82%

Bank of New England has a Capitalization of 15.56% versus the BestCashCow average of 12.82. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Bank of New England Balance Sheet Analysis

As of December 31, 2019, Bank of New England had assets of $956,043,000, loans of $873,099,000, and deposits of $796,164,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2019
ASSETS
Cash & Balances due from depository institutions $ 56.82 million
Interest-bearing balances $ 48.46 million
Total securities $ 12.89 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 873.10 million
Loan loss allowance $ 9.37 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 12.42 million
     Total Assets $ 807.25 million
LIABILITIES
Total deposits $ 796.16 million
      Interest-bearing deposits $ 701.24 million
      Deposits held in domestic offices $ 796.16 million
      % insured (estimated) 77.35%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 4.48 million
Subordinated debt N.A.
All other liabilities $ 6.61 million
      Total Liabilities $ 807.25 million
      Shareholders’ Equity $ 148.79 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 52.01 million
Total Interest Expense $ 13.74 million
Net interest income $ 38.28 million
Provision for loan and lease losses $ 0.69 million
Total non interest income $ 0.20 million
Total non interest expense $ 14.40 million
Pre-tax Net Operating Income $ 23.38 million

Bank Loan Profile?

The top three loan types in Bank of New England’s loan portfolio are Commercial Real Estate, Construction and Development Loans, and Multifamily Mortgages.

Compared to other banks in New Hampshire, Bank of New England has a significantly higher percent of Multifamily Mortgages, Construction and Development Loans, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 0.70
Multifamily
Mortgages
11.02
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 6.54
Construction and Development Loans 27.53
Commercial Real Estate 56.15
Commercial and Industrial Loans 5.94
Farm Loans 0.00

Frequently Asked Questions About Bank Of New England

Branches and Savings

Is Bank Of New England FDIC insured?

Yes. It is covered under FDIC Certificate #24540.

Why does Bank Of New England pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Bank Of New England CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Bank Of New England a commercial bank?

Yes

Where are Bank Of New England locations?

See branch locations nearby.

Is Bank Of New England open on Saturdays?

Is Bank Of New England open on Sundays?

What time does Bank Of New England open?

What time does Bank Of New England close?

Are Bank Of New England ATMs Open 24/7?

Do Bank Of New England ATMs accept cash deposits?

Can Bank Of New England customers use other ATMs?

Do Bank Of New England branches have notaries?

Will Bank Of New England notarize my document?

What address for Bank Of New England should I put for incoming ACH transfers?

Will the Bank Of New England branch print checks?

Do Bank Of New England checks expire?

Does Bank Of New England require US citizenship to open account?

Can Bank Of New England close my account?

Does Bank Of New England Report to credit bureaus?

Does Bank Of New England Use Equifax?

What is Bank Of New England's ACH Routing Number?

What is Bank Of New England's SWIFT code?

Products

Does Bank Of New England offer mortgages?

Compare mortgage rates here.

Does Bank Of New England offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bank Of New England offer personal loans?

Compare personal loan rates here.

Does Bank Of New England offer student loans?

Will Bank Of New England cash a check?

Will Bank Of New England redeem a savings bond?

Does Bank Of New England cash savings bonds?

Will Bank Of New England cash money orders?

Can Bank Of New England issue a money order?

Does Bank Of New England do currency exchange?

Background on The Bank

Who owns Bank Of New England?

How long has Bank Of New England been around?

Can Bank Of New England transfer to other banks?

Does Bank Of New England have quick pay?

Does Bank Of New England accept rolled coins?

Will Bank Of New England accept loose change?

Where is Bank Of New England headquarters?

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