Florence Bank

85 Main Street
Florence, MA 01062


2019 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 23293
Date Established 1873
Assets $1.36 billion
Loans $1.01 billion
Deposits $1.18 billion
Capital $0.15 billion

Florence Bank is an FDIC insured institution located in Florence, MA. It was founded in 1873 and has approximately $1.36 billion in assets. Customers can open an account at one of its 11 branches.

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

Deposit Rates - September 22, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.10% $1,000 - Learn MoreShow Less
3 Mo CD
0.10% $500 - Learn MoreShow Less
6 Mo CD
0.25% $500 - Learn MoreShow Less
12 Mo CD
0.40% $500 - Learn MoreShow Less
Special: 13 Mo CD
2.00% $500 $1,000,000 Learn MoreShow Less
18 Mo CD
0.45% $500 - Learn MoreShow Less
24 Mo CD
0.55% $500 - Learn MoreShow Less
Special: 25 Mo CD
1.85% $500 $1,000,000 Learn MoreShow Less
30 Mo CD
1.25% $500 - Learn MoreShow Less
36 Mo CD
1.75% $500 - Learn MoreShow Less
48 Mo CD
1.50% $500 - Learn MoreShow Less
60 Mo CD
1.75% $500 - Learn MoreShow Less

Fixed IRA
0.40% $500 - Learn MoreShow Less
Special: 13 Mo FIRA
2.00% $500 $1,000,000 Learn MoreShow Less
Special: 25 Mo FIRA
1.85% $500 $1,000,000 Learn MoreShow Less
Variable IRA Rates APY MIN MAX
0.10% $10 - Learn MoreShow Less
Checking Rates APY MIN FEE
Rewards Checking 0.50% $0 $0.00 Learn MoreShow Less
Free Checking 0.00% $0 $0.00 Learn MoreShow Less

Loan Rates - September 22, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Florence 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 2019

Lender APR Rate (%) Points Fees Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
4.875% 4.875% 0.00 $0 $1,324 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
4.990% 4.990% 0.00 $0 $1,341 Learn More
NMLS ID: 2890
License#: MC-3098
3.536% 3.500% 0.50 $1,108 $1,123 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
Figure Home Equity Line
Figure Home Equity Line
0.000 %
$0 Learn More
More Info

Note to Florence Bank
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Financial Details

Florence Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Florence 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
Florence Bank U.S. Bank Average
1.76% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s 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, 2019, Florence Bank had $2,682,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $147,511,000 in equity and $4,980,000 in loans loss reserves. That gives it a Texas Ratio of 1.76%.

Return on Equity
Florence Bank U.S. Bank Average
6.12% 9.47%

Florence Bank has a Return on Equity of 6.12% versus the BestCashCow average of 9.47%. 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.

Florence Bank U.S. Bank Average
10.83% 12.49%

Florence Bank has a Capitalization of 10.83% versus the BestCashCow average of 12.49. 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.

Florence Bank Balance Sheet Analysis

As of March 31, 2019, Florence Bank had assets of $1,361,666,000, loans of $1,014,146,000, and deposits of $1,175,613,000. 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, 2019
Cash & Balances due from depository institutions $0.03 billion
Interest-bearing balances $0.02 billion
Total securities $0.25 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $1.01 billion
Loan loss allowance $0.00 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.05 billion
     Total Assets $1.21 billion
Total deposits $1.18 billion
      Interest-bearing deposits $0.89 billion
      Deposits held in domestic offices $1.18 billion
      % insured (estimated) 83.52%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.01 billion
Subordinated debt $0.00 billion
All other liabilities $0.03 billion
      Total Liabilities $1.21 billion
      Shareholders’ Equity $0.15 billion

Summary Income Statement

March 31, 2019
Total Interest Income $0.01 billion
Total Interest Expense $0.00 billion
Net interest income $0.01 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.01 billion
Pre-tax Net Operating Income $0.00 billion

Bank Loan Profile?

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

Compared to other banks, Florence 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.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 68.70
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 4.43
Construction and Development Loans 2.25
Commercial Real Estate 21.46
Commercial and Industrial Loans 4.05
Farm Loans 0.00

Frequently Asked Questions About Florence Bank

Branches and Savings

Is Florence Bank FDIC insured?

Yes. It is covered under FDIC Certificate #23293.

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

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

Why are Florence Bank CD rates not competitive?

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

Is Florence Bank a commercial bank?


Where are Florence Bank locations?

See branch locations nearby.

Is Florence Bank open on Saturdays?

Is Florence Bank open on Sundays?

What time does Florence Bank open?

What time does Florence Bank close?

Are Florence Bank ATMs Open 24/7?

Do Florence Bank ATMs accept cash deposits?

Can Florence Bank customers use other ATMs?

Do Florence Bank branches have notaries?

Will Florence Bank notarize my document?

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

Will the Florence Bank branch print checks?

Do Florence Bank checks expire?

Does Florence Bank require US citizenship to open account?

Can Florence Bank close my account?

Does Florence Bank Report to credit bureaus?

Does Florence Bank Use Equifax?

What is Florence Bank's ACH Routing Number?

What is Florence Bank's SWIFT code?


Does Florence Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Florence Bank offer personal loans?

Compare personal loan rates here.

Does Florence Bank offer student loans?

Will Florence Bank cash a check?

Will Florence Bank redeem a savings bond?

Does Florence Bank cash savings bonds?

Will Florence Bank cash money orders?

Can Florence Bank issue a money order?

Does Florence Bank do currency exchange?

Background on The Bank

Who owns Florence Bank?

How long has Florence Bank been around?

Can Florence Bank transfer to other banks?

Does Florence Bank have quick pay?

Does Florence Bank accept rolled coins?

Will Florence Bank accept loose change?

Where is Florence Bank headquarters?

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