Chelsea Bank


360 Broadway
Chelsea, MA 02150
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Notable Rates APY Vs.Others
Savings N.A. 0.85% →
1-Year CD N.A. 0.80% →
2-Year CD N.A. 0.80% →
5-Year CD N.A. 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Chelsea Bank is an FDIC insured institution located in Chelsea, MA. It was founded in 1970 and has approximately $0.06 billion in assets.

FDIC Insured Yes
FDIC Certificate # 26548
Date Established 1970
Assets $ 58.61 million
Loans $ 38.83 million
Deposits $ 52.29 million
Capital $ 5.63 million

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

Deposit Rates - September 27, 2021

Your Current Location: Connecticut, CT 06828


Loan Rates - September 27, 2021

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Chelsea Bank

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

Featured - Connecticut 30 Year Fixed Mortgage Rates 2021

Lender APR Rate (%) Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
3.368% 3.250%
1.00 points
$3,750 fees
$1,089 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
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BMO Harris Bank
BMO Harris Bank
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Intro APR 1.790 %
After Intro: 4.840 %
Intro Period: 6 months
$0 Learn More
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Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
More Info

Note to Chelsea Bank
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Financial Details

Chelsea Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Chelsea 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
Chelsea Bank U.S. Bank Average
10.8% 5.29%

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, 2021, Chelsea Bank had $649,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $5,633,000 in equity and $375,000 in loans loss reserves. That gives it a Texas Ratio of 10.8%.

Return on Equity
Chelsea Bank U.S. Bank Average
1.67% 11.43%

Chelsea Bank has a Return on Equity of 1.67% versus the BestCashCow average of 11.43%. 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.

Chelsea Bank U.S. Bank Average
9.61% 11.51%

Chelsea Bank has a Capitalization of 9.61% versus the BestCashCow average of 11.51. 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.

Chelsea Bank Balance Sheet Analysis

As of September 30, 2014, Chelsea Bank had assets of $56,521,000, loans of $38,834,000, and deposits of $52,289,000. 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, 2021
Cash & Balances due from depository institutions N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 38.83 million
Loan loss allowance $ 0.38 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 N.A.
     Total Assets N.A.
Total deposits $ 52.29 million
      Interest-bearing deposits N.A.
      Deposits held in domestic offices N.A.
      % insured (estimated) 0.00%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities N.A.
      Total Liabilities N.A.
      Shareholders’ Equity $ 58.61 million

Summary Income Statement

March 31, 2021
Total Interest Income N.A.
Total Interest Expense N.A.
Net interest income N.A.
Provision for loan and lease losses N.A.
Total non interest income N.A.
Total non interest expense N.A.
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

The top three loan types in Chelsea Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Multifamily Mortgages.

Compared to other banks in Massachusetts, Chelsea Bank has a significantly higher percent of 1-4 Family Residential 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 78.71
Credit Card Loans 0.00
Consumer Auto Loans 0.37
Small Business Loans 0.00
Construction and Development Loans 1.66
Commercial Real Estate 11.32
Commercial and Industrial Loans 0.15
Farm Loans 0.00

Frequently Asked Questions About Chelsea Bank

Branches and Savings

Is Chelsea Bank FDIC insured?

Yes. It is covered under FDIC Certificate #26548.

Why does Chelsea Bank pay such low interest on savings accounts?

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

Why are Chelsea Bank CD rates not competitive?

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

Is Chelsea Bank a commercial bank?


Where are Chelsea Bank locations?

See branch locations nearby.

Is Chelsea Bank open on Saturdays?

Is Chelsea Bank open on Sundays?

What time does Chelsea Bank open?

What time does Chelsea Bank close?

Are Chelsea Bank ATMs Open 24/7?

Do Chelsea Bank ATMs accept cash deposits?

Can Chelsea Bank customers use other ATMs?

Do Chelsea Bank branches have notaries?

Will Chelsea Bank notarize my document?

What address for Chelsea Bank should I put for incoming ACH transfers?

Will the Chelsea Bank branch print checks?

Do Chelsea Bank checks expire?

Does Chelsea Bank require US citizenship to open account?

Can Chelsea Bank close my account?

Does Chelsea Bank Report to credit bureaus?

Does Chelsea Bank Use Equifax?

What is Chelsea Bank's ACH Routing Number?

What is Chelsea Bank's SWIFT code?


Does Chelsea Bank offer mortgages?

Compare mortgage rates here.

Does Chelsea Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Chelsea Bank offer personal loans?

Compare personal loan rates here.

Does Chelsea Bank offer student loans?

Will Chelsea Bank cash a check?

Will Chelsea Bank redeem a savings bond?

Does Chelsea Bank cash savings bonds?

Will Chelsea Bank cash money orders?

Can Chelsea Bank issue a money order?

Does Chelsea Bank do currency exchange?

Background on The Bank

Who owns Chelsea Bank?

How long has Chelsea Bank been around?

Can Chelsea Bank transfer to other banks?

Does Chelsea Bank have quick pay?

Does Chelsea Bank accept rolled coins?

Will Chelsea Bank accept loose change?

Where is Chelsea Bank headquarters?

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