Melrose Bank

638 Main Street
Melrose, MA 02176

 

2018 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 26511
Date Established 1890
Assets $0.32 billion
Loans $0.26 billion
Deposits $0.24 billion
Capital $0.04 billion

Melrose Bank is an FDIC insured institution located in Melrose, MA. It was founded in 1890 and has approximately $0.32 billion in assets.

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

Bank Loan Profile?

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

Compared to other banks in Massachusetts, Melrose 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 76.03
Multifamily
Mortgages
5.30
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 16.38
Construction and Development Loans 2.68
Commercial Real Estate 16.47
Commercial and Industrial Loans 0.00
Farm Loans 0.00

Deposit Rates - November 12, 2018

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.25% $2,500 $24,999 Learn MoreShow Less
Money Market
0.50% $25,000 $74,999 Learn MoreShow Less
CD Rates APY MIN MAX
3 Mo CD
1.35% $50,000 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
2.25% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.20% $10 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.10% $10 - Learn MoreShow Less
Checking Rates APY MIN FEE
FREE Checking 0.00% $0 $0.00 Learn MoreShow Less
NOW Checking 0.10% $750 $9.00 Learn MoreShow Less

Loan Rates - November 12, 2018

Your Current Location: Virginia, VA 20146

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
5 Year 4.99% 4.99% $471.67

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

Melrose 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


Melrose Bank Locations

Financial Details

Melrose Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Melrose 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
Melrose Bank U.S. Bank Average
0.75% 7.92%

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 June 30, 2018, Melrose Bank had $286,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $36,636,000 in equity and $1,306,000 in loans loss reserves. That gives it a Texas Ratio of 0.75%.

Return on Equity
Melrose Bank U.S. Bank Average
5.23% 9.77%

Melrose Bank has a Return on Equity of 5.23% versus the BestCashCow average of 9.77%. 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
Melrose Bank U.S. Bank Average
11.58% 12.31%

Melrose Bank has a Capitalization of 11.58% versus the BestCashCow average of 12.31. 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.

Melrose Bank Balance Sheet Analysis

As of June 30, 2018, Melrose Bank had assets of $316,319,000, loans of $262,137,000, and deposits of $237,934,000. 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

June 30, 2018
ASSETS
Cash & Balances due from depository institutions $0.01 billion
Interest-bearing balances $0.01 billion
Total securities $0.02 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.26 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 $0.01 billion
     Total Assets $0.28 billion
LIABILITIES
Total deposits $0.24 billion
      Interest-bearing deposits $0.21 billion
      Deposits held in domestic offices $0.24 billion
      % insured (estimated) 88.60%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.04 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.28 billion
      Shareholders’ Equity $0.04 billion

Summary Income Statement

June 30, 2018
INCOME AND EXPENSES
Total Interest Income $0.01 billion
Total Interest Expense $0.00 billion
Net interest income $0.00 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.00 billion
Pre-tax Net Operating Income $0.00 billion

Frequently Asked Questions About Melrose Bank

Branches and Savings

Is Melrose Bank FDIC insured?

Yes. It is covered under FDIC Certificate #26511.

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

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

Why are Melrose Bank CD rates not competitive?

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

Is Melrose Bank a commercial bank?

Yes

Where are Melrose Bank locations?

See branch locations nearby.

Is Melrose Bank open on Saturdays?

Is Melrose Bank open on Sundays?

What time does Melrose Bank open?

What time does Melrose Bank close?

Are Melrose Bank ATMs Open 24/7?

Do Melrose Bank ATMs accept cash deposits?

Can Melrose Bank customers use other ATMs?

Do Melrose Bank branches have notaries?

Will Melrose Bank notarize my document?

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

Will the Melrose Bank branch print checks?

Do Melrose Bank checks expire?

Does Melrose Bank require US citizenship to open account?

Can Melrose Bank close my account?

Does Melrose Bank Report to credit bureaus?

Does Melrose Bank Use Equifax?

What is Melrose Bank's ACH Routing Number?

What is Melrose Bank's SWIFT code?

Products

Does Melrose Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Melrose Bank offer personal loans?

Compare personal loan rates here.

Does Melrose Bank offer student loans?

Will Melrose Bank cash a check?

Will Melrose Bank redeem a savings bond?

Does Melrose Bank cash savings bonds?

Will Melrose Bank cash money orders?

Can Melrose Bank issue a money order?

Does Melrose Bank do currency exchange?

Background on The Bank

Who owns Melrose Bank?

How long has Melrose Bank been around?

Can Melrose Bank transfer to other banks?

Does Melrose Bank have quick pay?

Does Melrose Bank accept rolled coins?

Will Melrose Bank accept loose change?

Where is Melrose Bank headquarters?

Customer Reviews for Melrose Bank


  • Larry

    December 28, 2017 |

    CDs 12 Month Rates

    Melrose coop is owned by a fund raiser and ardent supporter of REpublican candidates

Add Your Review

Rate it here →