Chelsea Groton Bank

Headquarters

904 Poquonnock Road
Groton, CT 06340
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.03% 1.60% →
1-Year CD 0.15% 1.55% →
2-Year CD 0.35% 1.45% →
5-Year CD 0.80% 1.66% →
30-Year Mortgage 4.95% 3.09% →
15-Year Mortgage 4.37% 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Chelsea Groton Bank is an FDIC insured institution located in Groton, CT. It was founded in 1854 and has approximately $1.14 billion in assets. Customers can open an account at one of its 14 branches.

FDIC Insured Yes
FDIC Certificate # 18238
Date Established 1854
Assets $ 1,142.82 million
Loans $ 850.87 million
Deposits $ 884.46 million
Capital $ 187.73 million
 

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

Deposit Rates - June 3, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.03% $25 $4,999 Learn More
Money Market
0.03% $25 $4,999 Learn More
Money Market
0.03% $5,000 $24,999 Learn More
Money Market
0.03% $25,000 $49,999 Learn More
Premium Money Market Account
0.05% $5,000 $24,999 Learn More
Premium Money Market Account
0.05% $25,000 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.05% $500 - Learn More
6 Mo CD
0.10% $500 - Learn More
12 Mo CD
0.15% $500 - Learn More
18 Mo CD
0.25% $500 - Learn More
24 Mo CD
0.35% $500 - Learn More
30 Mo CD
0.55% $500 - Learn More
36 Mo CD
0.60% $500 - Learn More
48 Mo CD
0.70% $500 - Learn More
60 Mo CD
0.80% $500 - Learn More

Variable IRA Rates APY MIN MAX
Var IRA
0.05% $5,000 $24,999 Learn MoreShow Less

Loan Rates - June 3, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Chelsea Groton 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


Chelsea Groton Bank Locations


Financial Details

Chelsea Groton Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Chelsea Groton 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
Chelsea Groton Bank U.S. Bank Average
3.93% 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, Chelsea Groton Bank had $7,691,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $187,731,000 in equity and $7,891,000 in loans loss reserves. That gives it a Texas Ratio of 3.93%.

Return on Equity
Chelsea Groton Bank U.S. Bank Average
10.04% 9.41%

Chelsea Groton Bank has a Return on Equity of 10.04% 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
Chelsea Groton Bank U.S. Bank Average
16.43% 12.82%

Chelsea Groton Bank has a Capitalization of 16.43% 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.

Chelsea Groton Bank Balance Sheet Analysis

As of December 31, 2019, Chelsea Groton Bank had assets of $1,142,824,000, loans of $850,872,000, and deposits of $884,464,000. 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 $ 34.32 million
Interest-bearing balances $ 13.80 million
Total securities $ 191.40 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 850.87 million
Loan loss allowance $ 7.89 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.49 million
All other assets $ 49.17 million
     Total Assets $ 955.09 million
LIABILITIES
Total deposits $ 884.46 million
      Interest-bearing deposits $ 654.01 million
      Deposits held in domestic offices $ 884.46 million
      % insured (estimated) 66.77%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 40.17 million
Subordinated debt N.A.
All other liabilities $ 30.46 million
      Total Liabilities $ 955.09 million
      Shareholders’ Equity $ 187.73 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 42.08 million
Total Interest Expense $ 3.00 million
Net interest income $ 39.08 million
Provision for loan and lease losses $ 0.48 million
Total non interest income $ 8.54 million
Total non interest expense $ 33.91 million
Pre-tax Net Operating Income $ 13.23 million

Bank Loan Profile?

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

Compared to other banks, Chelsea Groton 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 69.56
Multifamily
Mortgages
1.08
Credit Card Loans 0.00
Consumer Auto Loans 0.24
Small Business Loans 7.28
Construction and Development Loans 6.71
Commercial Real Estate 14.85
Commercial and Industrial Loans 7.26
Farm Loans 0.02

Frequently Asked Questions About Chelsea Groton Bank

Branches and Savings

Is Chelsea Groton Bank FDIC insured?

Yes. It is covered under FDIC Certificate #18238.

Why does Chelsea Groton 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 Groton Bank CD rates not competitive?

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

Is Chelsea Groton Bank a commercial bank?

Yes

Where are Chelsea Groton Bank locations?

See branch locations nearby.

Is Chelsea Groton Bank open on Saturdays?

Is Chelsea Groton Bank open on Sundays?

What time does Chelsea Groton Bank open?

What time does Chelsea Groton Bank close?

Are Chelsea Groton Bank ATMs Open 24/7?

Do Chelsea Groton Bank ATMs accept cash deposits?

Can Chelsea Groton Bank customers use other ATMs?

Do Chelsea Groton Bank branches have notaries?

Will Chelsea Groton Bank notarize my document?

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

Will the Chelsea Groton Bank branch print checks?

Do Chelsea Groton Bank checks expire?

Does Chelsea Groton Bank require US citizenship to open account?

Can Chelsea Groton Bank close my account?

Does Chelsea Groton Bank Report to credit bureaus?

Does Chelsea Groton Bank Use Equifax?

What is Chelsea Groton Bank's ACH Routing Number?

What is Chelsea Groton Bank's SWIFT code?

Products

Does Chelsea Groton Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Chelsea Groton Bank offer personal loans?

Compare personal loan rates here.

Does Chelsea Groton Bank offer student loans?

Will Chelsea Groton Bank cash a check?

Will Chelsea Groton Bank redeem a savings bond?

Does Chelsea Groton Bank cash savings bonds?

Will Chelsea Groton Bank cash money orders?

Can Chelsea Groton Bank issue a money order?

Does Chelsea Groton Bank do currency exchange?

Background on The Bank

Who owns Chelsea Groton Bank?

How long has Chelsea Groton Bank been around?

Can Chelsea Groton Bank transfer to other banks?

Does Chelsea Groton Bank have quick pay?

Does Chelsea Groton Bank accept rolled coins?

Will Chelsea Groton Bank accept loose change?

Where is Chelsea Groton Bank headquarters?

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