Equitable Co-operative Bank

Headquarters

400 Broadway
Lynn, MA 01904
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Equitable Co-operative Bank is an FDIC insured institution located in Lynn, MA. It was founded in 1877 and has approximately $0.1 billion in assets.

FDIC Insured Yes
FDIC Certificate # 26453
Date Established 1877
Assets $ 99.91 million
Loans $ 64.01 million
Deposits $ 85.76 million
Capital $ 12.77 million
 

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

Deposit Rates - October 29, 2020

Your Current Location: Virginia, VA 20146


Loan Rates - October 29, 2020

Your Current Location: Virginia, VA 20146

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

Equitable Co-operative 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


Equitable Co-operative Bank Locations


Financial Details

Equitable Co-operative Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Equitable Co-operative 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
Equitable Co-operative Bank U.S. Bank Average
1.9% 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, Equitable Co-operative Bank had $246,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $12,765,000 in equity and $206,000 in loans loss reserves. That gives it a Texas Ratio of 1.9%.

Return on Equity
Equitable Co-operative Bank U.S. Bank Average
1.4% 7.80%

Equitable Co-operative Bank has a Return on Equity of 1.4% 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
Equitable Co-operative Bank U.S. Bank Average
12.78% 12.68%

Equitable Co-operative Bank has a Capitalization of 12.78% 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.

Equitable Co-operative Bank Balance Sheet Analysis

As of June 30, 2016, Equitable Co-operative Bank had assets of $99,906,000, loans of $64,007,000, and deposits of $85,757,000. 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 N.A.
Interest-bearing balances N.A.
Total securities N.A.
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 64.01 million
Loan loss allowance $ 0.21 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.
LIABILITIES
Total deposits $ 85.76 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 $ 99.91 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
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 Equitable 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, Equitable Co-operative Bank has a significantly higher percent of 1-4 Family Residential Loans, 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 87.64
Multifamily
Mortgages
2.25
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 7.10
Construction and Development Loans 0.00
Commercial Real Estate 7.10
Commercial and Industrial Loans 0.35
Farm Loans 0.00

Frequently Asked Questions About Equitable Co-operative Bank

Branches and Savings

Is Equitable Co-operative Bank FDIC insured?

Yes. It is covered under FDIC Certificate #26453.

Why does Equitable 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 Equitable Co-operative Bank CD rates not competitive?

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

Is Equitable Co-operative Bank a commercial bank?

Yes

Where are Equitable Co-operative Bank locations?

See branch locations nearby.

Is Equitable Co-operative Bank open on Saturdays?

Is Equitable Co-operative Bank open on Sundays?

What time does Equitable Co-operative Bank open?

What time does Equitable Co-operative Bank close?

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

Do Equitable Co-operative Bank ATMs accept cash deposits?

Can Equitable Co-operative Bank customers use other ATMs?

Do Equitable Co-operative Bank branches have notaries?

Will Equitable Co-operative Bank notarize my document?

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

Will the Equitable Co-operative Bank branch print checks?

Do Equitable Co-operative Bank checks expire?

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

Can Equitable Co-operative Bank close my account?

Does Equitable Co-operative Bank Report to credit bureaus?

Does Equitable Co-operative Bank Use Equifax?

What is Equitable Co-operative Bank's ACH Routing Number?

What is Equitable Co-operative Bank's SWIFT code?

Products

Does Equitable Co-operative Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Equitable Co-operative Bank offer personal loans?

Compare personal loan rates here.

Does Equitable Co-operative Bank offer student loans?

Will Equitable Co-operative Bank cash a check?

Will Equitable Co-operative Bank redeem a savings bond?

Does Equitable Co-operative Bank cash savings bonds?

Will Equitable Co-operative Bank cash money orders?

Can Equitable Co-operative Bank issue a money order?

Does Equitable Co-operative Bank do currency exchange?

Background on The Bank

Who owns Equitable Co-operative Bank?

How long has Equitable Co-operative Bank been around?

Can Equitable Co-operative Bank transfer to other banks?

Does Equitable Co-operative Bank have quick pay?

Does Equitable Co-operative Bank accept rolled coins?

Will Equitable Co-operative Bank accept loose change?

Where is Equitable Co-operative Bank headquarters?

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