Colonial Co-operative Bank


6 City Hall Avenue
Gardner, MA 01440
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Notable Rates APY Vs.Others
Savings N.A. 0.65% →
1-Year CD N.A. 0.70% →
2-Year CD N.A. 0.75% →
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

Colonial Co-operative Bank is an FDIC insured institution located in Gardner, MA. It was founded in 1915 and has approximately $0.07 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 26556
Date Established 1915
Assets $ 66.16 million
Loans $ 55.28 million
Deposits $ 60.72 million
Capital $ 3.98 million

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

Deposit Rates - June 22, 2021

Your Current Location: Virginia, VA 20146


Loan Rates - June 22, 2021

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Colonial Co-operative Bank

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

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Note to Colonial Co-operative Bank
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Financial Details

Colonial Co-operative Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Colonial Co-operative 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
Colonial Co-operative Bank U.S. Bank Average
36% 5.49%

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, 2020, Colonial Co-operative Bank had $1,391,000 in non-current loans and $120,000 in owned real estate. To cover these potential losses it had $3,982,000 in equity and $215,000 in loans loss reserves. That gives it a Texas Ratio of 36%.

Return on Equity
Colonial Co-operative Bank U.S. Bank Average
0.71% 9.24%

Colonial Co-operative Bank has a Return on Equity of 0.71% versus the BestCashCow average of 9.24%. 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.

Colonial Co-operative Bank U.S. Bank Average
6.02% 11.96%

Colonial Co-operative Bank has a Capitalization of 6.02% versus the BestCashCow average of 11.96. 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.

Colonial Co-operative Bank Balance Sheet Analysis

As of March 31, 2018, Colonial Co-operative Bank had assets of $65,365,000, loans of $55,276,000, and deposits of $60,718,000. 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, 2020
Cash & Balances due from depository institutions $ 7.43 million
Interest-bearing balances $ 6.29 million
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 55.28 million
Loan loss allowance $ 0.22 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.12 million
Goodwill and other intangibles N.A.
All other assets $ 1.65 million
     Total Assets $ 61.38 million
Total deposits $ 60.72 million
      Interest-bearing deposits $ 53.35 million
      Deposits held in domestic offices $ 60.72 million
      % insured (estimated) 92.86%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 0.67 million
      Total Liabilities $ 61.38 million
      Shareholders’ Equity $ 4.78 million

Summary Income Statement

December 31, 2020
Total Interest Income $ 0.66 million
Total Interest Expense $ 0.07 million
Net interest income $ 0.59 million
Provision for loan and lease losses $ 0.56 million
Total non interest income $ 0.12 million
Total non interest expense $ 1.77 million
Pre-tax Net Operating Income N.A.

Bank Loan Profile?

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

Compared to other banks in Massachusetts, Colonial Co-operative 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 92.51
Credit Card Loans 0.00
Consumer Auto Loans 0.11
Small Business Loans 3.08
Construction and Development Loans 2.01
Commercial Real Estate 3.08
Commercial and Industrial Loans 0.18
Farm Loans 0.00

Frequently Asked Questions About Colonial Co-operative Bank

Branches and Savings

Is Colonial Co-operative Bank FDIC insured?

Yes. It is covered under FDIC Certificate #26556.

Why does Colonial Co-operative Bank pay such low interest on savings accounts?

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

Why are Colonial Co-operative Bank CD rates not competitive?

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

Is Colonial Co-operative Bank a commercial bank?


Where are Colonial Co-operative Bank locations?

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Is Colonial Co-operative Bank open on Saturdays?

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Are Colonial Co-operative Bank ATMs Open 24/7?

Do Colonial Co-operative Bank ATMs accept cash deposits?

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Do Colonial Co-operative Bank branches have notaries?

Will Colonial Co-operative Bank notarize my document?

What address for Colonial Co-operative Bank should I put for incoming ACH transfers?

Will the Colonial Co-operative Bank branch print checks?

Do Colonial Co-operative Bank checks expire?

Does Colonial Co-operative Bank require US citizenship to open account?

Can Colonial Co-operative Bank close my account?

Does Colonial Co-operative Bank Report to credit bureaus?

Does Colonial Co-operative Bank Use Equifax?

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Does Colonial Co-operative Bank offer mortgages?

Compare mortgage rates here.

Does Colonial Co-operative Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Colonial Co-operative Bank offer personal loans?

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Does Colonial Co-operative Bank offer student loans?

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Background on The Bank

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Does Colonial Co-operative Bank have quick pay?

Does Colonial Co-operative Bank accept rolled coins?

Will Colonial Co-operative Bank accept loose change?

Where is Colonial Co-operative Bank headquarters?

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