Northmark Bank

Headquarters

89 Turnpike Street
North Andover, MA 01845
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 1.00% →
1-Year CD 0.25% 0.95% →
2-Year CD 0.35% 1.05% →
5-Year CD 0.50% 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

Northmark Bank is an FDIC insured institution located in North Andover, MA. It was founded in 1987 and has approximately $0.37 billion in assets. Customers can open an account at one of its 3 branches.

FDIC Insured Yes
FDIC Certificate # 27119
Date Established 1987
Assets $ 370.63 million
Loans $ 305.37 million
Deposits $ 304.10 million
Capital $ 47.75 million
 

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

Deposit Rates - September 30, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.05% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $10,000 $14,999 Learn More
3 Mo CD
0.10% $100,000 $199,999 Learn More
6 Mo CD
0.10% $10,000 $14,999 Learn More
6 Mo CD
0.10% $100,000 $199,999 Learn More
12 Mo CD
0.25% $10,000 $14,999 Learn More
12 Mo CD
0.25% $100,000 $199,999 Learn More
18 Mo CD
0.25% $10,000 $14,999 Learn More
18 Mo CD
0.25% $100,000 $199,999 Learn More
24 Mo CD
0.35% $10,000 $14,999 Learn More
24 Mo CD
0.35% $100,000 $199,999 Learn More
30 Mo CD
0.35% $10,000 $14,999 Learn More
30 Mo CD
0.35% $100,000 $199,999 Learn More
36 Mo CD
0.40% $10,000 $14,999 Learn More
36 Mo CD
0.40% $100,000 $199,999 Learn More
48 Mo CD
0.40% $10,000 $14,999 Learn More
48 Mo CD
0.40% $100,000 $199,999 Learn More
60 Mo CD
0.50% $10,000 $14,999 Learn More
60 Mo CD
0.50% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less
Checking Rates APY MIN FEE
NOW Checking 0.05% $0 $0.00 Learn MoreShow Less

Loan Rates - September 30, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Northmark Bank

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




Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.990 %
$0 Learn More
More Info

Note to Northmark Bank
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Branches

Northmark 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:
Fairfield,Connecticut


Northmark Bank Locations


Financial Details

Northmark Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Northmark 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
Northmark Bank U.S. Bank Average
0% 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, Northmark Bank had $0 in non-current loans and $0 in owned real estate. To cover these potential losses it had $47,745,000 in equity and $3,818,000 in loans loss reserves. That gives it a Texas Ratio of 0%.

Return on Equity
Northmark Bank U.S. Bank Average
5.65% 7.80%

Northmark Bank has a Return on Equity of 5.65% 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
Northmark Bank U.S. Bank Average
12.88% 12.68%

Northmark Bank has a Capitalization of 12.88% 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.

Northmark Bank Balance Sheet Analysis

As of March 31, 2020, Northmark Bank had assets of $370,626,000, loans of $305,368,000, and deposits of $304,097,000. 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 $ 25.93 million
Interest-bearing balances $ 22.54 million
Total securities $ 26.79 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 305.37 million
Loan loss allowance $ 3.82 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.30 million
All other assets $ 6.73 million
     Total Assets $ 322.88 million
LIABILITIES
Total deposits $ 304.10 million
      Interest-bearing deposits $ 206.55 million
      Deposits held in domestic offices $ 304.10 million
      % insured (estimated) 66.33%
Federal funds purchased and repurchase agreements $ 3.04 million
Trading liabilities N.A.
Other borrowed funds $ 12.00 million
Subordinated debt N.A.
All other liabilities $ 3.74 million
      Total Liabilities $ 322.88 million
      Shareholders’ Equity $ 47.75 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 3.87 million
Total Interest Expense $ 0.61 million
Net interest income $ 3.26 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.13 million
Total non interest expense $ 2.45 million
Pre-tax Net Operating Income $ 0.94 million

Bank Loan Profile?

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

Compared to other banks, Northmark 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 57.69
Multifamily
Mortgages
3.86
Credit Card Loans 0.00
Consumer Auto Loans 0.10
Small Business Loans 0.00
Construction and Development Loans 7.20
Commercial Real Estate 24.01
Commercial and Industrial Loans 7.70
Farm Loans 0.00

Frequently Asked Questions About Northmark Bank

Branches and Savings

Is Northmark Bank FDIC insured?

Yes. It is covered under FDIC Certificate #27119.

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

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

Why are Northmark Bank CD rates not competitive?

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

Is Northmark Bank a commercial bank?

Yes

Where are Northmark Bank locations?

See branch locations nearby.

Is Northmark Bank open on Saturdays?

Is Northmark Bank open on Sundays?

What time does Northmark Bank open?

What time does Northmark Bank close?

Are Northmark Bank ATMs Open 24/7?

Do Northmark Bank ATMs accept cash deposits?

Can Northmark Bank customers use other ATMs?

Do Northmark Bank branches have notaries?

Will Northmark Bank notarize my document?

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

Will the Northmark Bank branch print checks?

Do Northmark Bank checks expire?

Does Northmark Bank require US citizenship to open account?

Can Northmark Bank close my account?

Does Northmark Bank Report to credit bureaus?

Does Northmark Bank Use Equifax?

What is Northmark Bank's ACH Routing Number?

What is Northmark Bank's SWIFT code?

Products

Does Northmark Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Northmark Bank offer personal loans?

Compare personal loan rates here.

Does Northmark Bank offer student loans?

Will Northmark Bank cash a check?

Will Northmark Bank redeem a savings bond?

Does Northmark Bank cash savings bonds?

Will Northmark Bank cash money orders?

Can Northmark Bank issue a money order?

Does Northmark Bank do currency exchange?

Background on The Bank

Who owns Northmark Bank?

How long has Northmark Bank been around?

Can Northmark Bank transfer to other banks?

Does Northmark Bank have quick pay?

Does Northmark Bank accept rolled coins?

Will Northmark Bank accept loose change?

Where is Northmark Bank headquarters?

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