Cape Ann Savings Bank

Headquarters

109 Main Street
Gloucester, MA 01930
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.91% →
1-Year CD N.A. 0.85% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.61% →
15-Year Mortgage N.A. 2.31% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Cape Ann Savings Bank is an FDIC insured institution located in Gloucester, MA. It was founded in 1846 and has approximately $0.68 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 90203
Date Established 1846
Assets $ 684.33 million
Loans $ 432.66 million
Deposits $ 505.81 million
Capital $ 152.05 million
 

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

Deposit Rates - December 4, 2020

Your Current Location: Virginia, VA 20146

Checking Rates APY MIN FEE
Free NOW Checking Account 0.00% $0 $0.00 Learn MoreShow Less
 

Loan Rates - December 4, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Cape Ann 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 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
New American Funding
NMLS ID: 6606
2.617% 2.500% 0.88 $3,862 $988 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
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Intro APR
2.990 %
After Intro: 3.500 %
Intro Period: 12 months
$25,000 Learn More
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Third Federal Savings and Loans
Third Federal Savings and Loans
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2.240 %
$0 Learn More
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Note to Cape Ann Savings Bank
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Branches

Cape Ann Savings Bank 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


Cape Ann Savings Bank Locations


Financial Details

Cape Ann Savings Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Cape Ann Savings Bank. 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
Cape Ann Savings Bank U.S. Bank Average
3.33% 6.94%

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 March 31, 2020, Cape Ann Savings Bank had $5,182,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $152,050,000 in equity and $3,702,000 in loans loss reserves. That gives it a Texas Ratio of 3.33%.

Return on Equity
Cape Ann Savings Bank U.S. Bank Average
-26.64% 7.80%

Cape Ann Savings Bank has a Return on Equity of -26.64% versus the BestCashCow average of 7.80%. 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
Cape Ann Savings Bank U.S. Bank Average
22.22% 12.68%

Cape Ann Savings Bank has a Capitalization of 22.22% versus the BestCashCow average of 12.68. 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.

Cape Ann Savings Bank Balance Sheet Analysis

As of March 31, 2020, Cape Ann Savings Bank had assets of $684,333,000, loans of $432,655,000, and deposits of $505,809,000. 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

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 55.28 million
Interest-bearing balances $ 40.12 million
Total securities $ 158.44 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 432.66 million
Loan loss allowance $ 3.70 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.87 million
All other assets $ 22.66 million
     Total Assets $ 532.28 million
LIABILITIES
Total deposits $ 505.81 million
      Interest-bearing deposits $ 479.14 million
      Deposits held in domestic offices $ 505.81 million
      % insured (estimated) 89.76%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 26.47 million
      Total Liabilities $ 532.28 million
      Shareholders’ Equity $ 152.05 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 5.93 million
Total Interest Expense $ 1.55 million
Net interest income $ 4.38 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.76 million
Total non interest expense $ 3.67 million
Pre-tax Net Operating Income $ 1.47 million

Bank Loan Profile?

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

Compared to other banks in Massachusetts, Cape Ann Savings Bank has a significantly higher percent of Small Business Loans 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 71.84
Multifamily
Mortgages
7.27
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 8.22
Construction and Development Loans 6.33
Commercial Real Estate 11.95
Commercial and Industrial Loans 3.02
Farm Loans 0.19

Frequently Asked Questions About Cape Ann Savings Bank

Branches and Savings

Is Cape Ann Savings Bank FDIC insured?

Yes. It is covered under FDIC Certificate #90203.

Why does Cape Ann Savings Bank pay such low interest on savings accounts?

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

Why are Cape Ann Savings Bank CD rates not competitive?

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

Is Cape Ann Savings Bank a commercial bank?

Yes

Where are Cape Ann Savings Bank locations?

See branch locations nearby.

Is Cape Ann Savings Bank open on Saturdays?

Is Cape Ann Savings Bank open on Sundays?

What time does Cape Ann Savings Bank open?

What time does Cape Ann Savings Bank close?

Are Cape Ann Savings Bank ATMs Open 24/7?

Do Cape Ann Savings Bank ATMs accept cash deposits?

Can Cape Ann Savings Bank customers use other ATMs?

Do Cape Ann Savings Bank branches have notaries?

Will Cape Ann Savings Bank notarize my document?

What address for Cape Ann Savings Bank should I put for incoming ACH transfers?

Will the Cape Ann Savings Bank branch print checks?

Do Cape Ann Savings Bank checks expire?

Does Cape Ann Savings Bank require US citizenship to open account?

Can Cape Ann Savings Bank close my account?

Does Cape Ann Savings Bank Report to credit bureaus?

Does Cape Ann Savings Bank Use Equifax?

What is Cape Ann Savings Bank's ACH Routing Number?

What is Cape Ann Savings Bank's SWIFT code?

Products

Does Cape Ann Savings Bank offer mortgages?

Compare mortgage rates here.

Does Cape Ann Savings Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Cape Ann Savings Bank offer personal loans?

Compare personal loan rates here.

Does Cape Ann Savings Bank offer student loans?

Will Cape Ann Savings Bank cash a check?

Will Cape Ann Savings Bank redeem a savings bond?

Does Cape Ann Savings Bank cash savings bonds?

Will Cape Ann Savings Bank cash money orders?

Can Cape Ann Savings Bank issue a money order?

Does Cape Ann Savings Bank do currency exchange?

Background on The Bank

Who owns Cape Ann Savings Bank?

How long has Cape Ann Savings Bank been around?

Can Cape Ann Savings Bank transfer to other banks?

Does Cape Ann Savings Bank have quick pay?

Does Cape Ann Savings Bank accept rolled coins?

Will Cape Ann Savings Bank accept loose change?

Where is Cape Ann Savings Bank headquarters?

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