Litchfield Bancorp

Headquarters

294 West Street
Litchfield, CT 06759
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.02% 1.60% →
1-Year CD 0.25% 1.55% →
2-Year CD 0.50% 1.45% →
5-Year CD 1.00% 1.66% →
30-Year Mortgage 4.30% 3.08% →
15-Year Mortgage 3.71% 2.65% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Litchfield Bancorp is an FDIC insured institution located in Litchfield, CT. It was founded in 1850 and has approximately $0.26 billion in assets. Customers can open an account at one of its 6 branches.

FDIC Insured Yes
FDIC Certificate # 18209
Date Established 1850
Assets $ 256.16 million
Loans $ 193.19 million
Deposits $ 228.06 million
Capital $ 20.00 million
 

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

Deposit Rates - May 31, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.02% $50 - Learn More
Money Market
0.03% $500 $49,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.05% $500 - Learn More
6 Mo CD
0.30% $500 - Learn More
12 Mo CD
0.25% $500 - Learn More
18 Mo CD
0.50% $500 - Learn More
24 Mo CD
0.50% $500 - Learn More
30 Mo CD
0.45% $500 - Learn More
36 Mo CD
0.55% $500 - Learn More
48 Mo CD
0.60% $500 - Learn More
60 Mo CD
1.00% $500 - Learn More

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.25% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
0.01% $50 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.02% $1 - Learn MoreShow Less

Loan Rates - May 31, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 5.00% 5.00% $749.27
4 Year 5.25% 5.25% $578.57
5 Year 5.50% 5.50% $477.53
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

Litchfield Bancorp 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


Litchfield Bancorp Locations


Financial Details

Litchfield Bancorp Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Litchfield Bancorp. 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
Litchfield Bancorp U.S. Bank Average
5.28% 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, Litchfield Bancorp had $990,000 in non-current loans and $156,000 in owned real estate. To cover these potential losses it had $19,996,000 in equity and $1,727,000 in loans loss reserves. That gives it a Texas Ratio of 5.28%.

Return on Equity
Litchfield Bancorp U.S. Bank Average
3.72% 9.41%

Litchfield Bancorp has a Return on Equity of 3.72% 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
Litchfield Bancorp U.S. Bank Average
7.81% 12.82%

Litchfield Bancorp has a Capitalization of 7.81% 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.

Litchfield Bancorp Balance Sheet Analysis

As of December 31, 2019, Litchfield Bancorp had assets of $256,160,000, loans of $193,187,000, and deposits of $228,063,000. 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 $ 21.24 million
Interest-bearing balances $ 18.57 million
Total securities $ 32.62 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 193.19 million
Loan loss allowance $ 1.73 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.16 million
Goodwill and other intangibles N.A.
All other assets $ 8.09 million
     Total Assets $ 236.16 million
LIABILITIES
Total deposits $ 228.06 million
      Interest-bearing deposits $ 179.66 million
      Deposits held in domestic offices $ 228.06 million
      % insured (estimated) 78.02%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 4.29 million
Subordinated debt N.A.
All other liabilities $ 3.81 million
      Total Liabilities $ 236.16 million
      Shareholders’ Equity $ 20.00 million

Summary Income Statement

December 31, 2019
INCOME AND EXPENSES
Total Interest Income $ 9.85 million
Total Interest Expense $ 1.64 million
Net interest income $ 8.21 million
Provision for loan and lease losses $ 0.16 million
Total non interest income $ 1.19 million
Total non interest expense $ 8.34 million
Pre-tax Net Operating Income $ 0.90 million

Bank Loan Profile?

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

Compared to other banks, Litchfield Bancorp’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 59.37
Multifamily
Mortgages
3.48
Credit Card Loans 0.00
Consumer Auto Loans 1.60
Small Business Loans 13.94
Construction and Development Loans 4.61
Commercial Real Estate 22.11
Commercial and Industrial Loans 7.47
Farm Loans 0.00

Frequently Asked Questions About Litchfield Bancorp

Branches and Savings

Is Litchfield Bancorp FDIC insured?

Yes. It is covered under FDIC Certificate #18209.

Why does Litchfield Bancorp pay such low interest on savings accounts?

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

Why are Litchfield Bancorp CD rates not competitive?

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

Is Litchfield Bancorp a commercial bank?

Yes

Where are Litchfield Bancorp locations?

See branch locations nearby.

Is Litchfield Bancorp open on Saturdays?

Is Litchfield Bancorp open on Sundays?

What time does Litchfield Bancorp open?

What time does Litchfield Bancorp close?

Are Litchfield Bancorp ATMs Open 24/7?

Do Litchfield Bancorp ATMs accept cash deposits?

Can Litchfield Bancorp customers use other ATMs?

Do Litchfield Bancorp branches have notaries?

Will Litchfield Bancorp notarize my document?

What address for Litchfield Bancorp should I put for incoming ACH transfers?

Will the Litchfield Bancorp branch print checks?

Do Litchfield Bancorp checks expire?

Does Litchfield Bancorp require US citizenship to open account?

Can Litchfield Bancorp close my account?

Does Litchfield Bancorp Report to credit bureaus?

Does Litchfield Bancorp Use Equifax?

What is Litchfield Bancorp's ACH Routing Number?

What is Litchfield Bancorp's SWIFT code?

Products

Does Litchfield Bancorp offer mortgages?

Compare mortgage rates here.

Does Litchfield Bancorp offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Litchfield Bancorp offer personal loans?

Compare personal loan rates here.

Does Litchfield Bancorp offer student loans?

Will Litchfield Bancorp cash a check?

Will Litchfield Bancorp redeem a savings bond?

Does Litchfield Bancorp cash savings bonds?

Will Litchfield Bancorp cash money orders?

Can Litchfield Bancorp issue a money order?

Does Litchfield Bancorp do currency exchange?

Background on The Bank

Who owns Litchfield Bancorp?

How long has Litchfield Bancorp been around?

Can Litchfield Bancorp transfer to other banks?

Does Litchfield Bancorp have quick pay?

Does Litchfield Bancorp accept rolled coins?

Will Litchfield Bancorp accept loose change?

Where is Litchfield Bancorp headquarters?

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