Bay State Savings Bank


28 Franklin St
Worcester, MA 01608
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Notable Rates APY Vs.Others
Savings N.A. 4.35% →
1-Year CD N.A. 5.00% →
2-Year CD N.A. 4.75% →
5-Year CD N.A. 4.55% →
30-Year Mortgage N.A. 0.00% →
15-Year Mortgage N.A. 0.00% →
HELOC N.A. 0.99% →

2023 Overview

General Bank Information

Bay State Savings Bank is an FDIC insured institution located in Worcester, MA. It was founded in 1895 and has approximately $0.51 billion in assets. Customers can open an account at one of its 8 branches.

FDIC Insured Yes
FDIC Certificate # 90311
Date Established 1895
Assets $ 512.63 million
Loans $ 394.81 million
Deposits $ 460.03 million
Capital $ 44.30 million

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

Deposit Rates - February 2, 2023

Your Current Location: Virginia, VA 20146

Checking Rates APY MIN FEE
Gold Rewards Checking 0.00% $5,000 $15.00 Learn MoreShow Less
Classic Checking 0.00% $0 $3.00 Learn MoreShow Less

Loan Rates - February 2, 2023

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Bay State Savings Bank

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 2023

Lender APR Rate (%) Monthly
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AmeriSave Mortgage Corporation
NMLS ID: 1168

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NMLS ID: Not lender

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NMLS ID: Not lender

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Featured - Virginia Home Equity Line Of Credit Rates 2023

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 6.990 %
After Intro: 8.000 %
Intro Period: 12 months
$25,000 Learn More
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Third Federal Savings and Loan
Third Federal Savings and Loan
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6.740 %
$0 Learn More
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Note to Bay State Savings Bank
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Financial Details

Bay State Savings Bank Ratio Analysis

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

Texas Ratio
Bay State Savings Bank U.S. Bank Average
3.64% 4.06%

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 June 30, 2022, Bay State Savings Bank had $1,777,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $44,298,000 in equity and $4,490,000 in loans loss reserves. That gives it a Texas Ratio of 3.64%.

Return on Equity
Bay State Savings Bank U.S. Bank Average
4.3% 9.98%

Bay State Savings Bank has a Return on Equity of 4.3% versus the BestCashCow average of 9.98%. 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.

Bay State Savings Bank U.S. Bank Average
8.64% 10.23%

Bay State Savings Bank has a Capitalization of 8.64% versus the BestCashCow average of 10.23. 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.

Bay State Savings Bank Balance Sheet Analysis

As of June 30, 2022, Bay State Savings Bank had assets of $512,634,000, loans of $394,809,000, and deposits of $460,029,000. 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

June 30, 2022
Cash & Balances due from depository institutions $ 57.16 million
Interest-bearing balances $ 51.29 million
Total securities $ 41.29 million
Federal funds sold and reverse repurchase $ 2.48 million
Net loans and leases $ 394.81 million
Loan loss allowance $ 4.49 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.23 million
All other assets $ 13.89 million
     Total Assets $ 468.34 million
Total deposits $ 460.03 million
      Interest-bearing deposits $ 355.45 million
      Deposits held in domestic offices $ 460.03 million
      % insured (estimated) 72.73%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 4.87 million
Subordinated debt N.A.
All other liabilities $ 3.44 million
      Total Liabilities $ 468.34 million
      Shareholders’ Equity $ 44.30 million

Summary Income Statement

June 30, 2022
Total Interest Income $ 8.02 million
Total Interest Expense $ 0.55 million
Net interest income $ 7.47 million
Provision for loan and lease losses $ 0.00 million
Total non interest income $ 0.57 million
Total non interest expense $ 6.62 million
Pre-tax Net Operating Income $ 1.42 million

Bank Loan Profile?

The top three loan types in Bay State Savings Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Small Business Loans.

Compared to other banks, Bay State Savings Bank’s loan portfolio does not show any specific loan specialty.

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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 62.59
Credit Card Loans 0.00
Consumer Auto Loans 0.30
Small Business Loans 9.45
Construction and Development Loans 3.70
Commercial Real Estate 25.20
Commercial and Industrial Loans 2.70
Farm Loans 0.00

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