Salem Co-operative Bank

Headquarters

3 S Broadway
Salem, NH 03079
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 0.65% →
1-Year CD 0.50% 0.70% →
2-Year CD 0.75% 0.75% →
5-Year CD 1.25% 1.15% →
30-Year Mortgage 4.31% 2.72% →
15-Year Mortgage 3.86% 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Bank Information

Salem Co-operative Bank is an FDIC insured institution located in Salem, NH. It was founded in 1922 and has approximately $0.48 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 27824
Date Established 1922
Assets $ 484.68 million
Loans $ 325.72 million
Deposits $ 358.28 million
Capital $ 70.40 million
 

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

Deposit Rates - July 24, 2021

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.35% $10,000 $14,999 Learn More
6 Mo CD
0.35% $100,000 $199,999 Learn More
12 Mo CD
0.50% $10,000 $14,999 Learn More
12 Mo CD
0.50% $100,000 $199,999 Learn More
18 Mo CD
0.75% $10,000 $14,999 Learn More
18 Mo CD
0.75% $100,000 $199,999 Learn More
24 Mo CD
0.75% $10,000 $14,999 Learn More
24 Mo CD
0.75% $100,000 $199,999 Learn More
30 Mo CD
1.00% $10,000 $14,999 Learn More
30 Mo CD
1.00% $100,000 $199,999 Learn More
36 Mo CD
1.00% $10,000 $14,999 Learn More
36 Mo CD
1.00% $100,000 $199,999 Learn More
48 Mo CD
1.25% $10,000 $14,999 Learn More
48 Mo CD
1.25% $100,000 $199,999 Learn More
60 Mo CD
1.25% $10,000 $14,999 Learn More
60 Mo CD
1.25% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.10% $2,500 $3,499 Learn MoreShow Less
 

Loan Rates - July 24, 2021

Your Current Location: Connecticut, CT 06828

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 5.25% 5.25% $752.08
4 Year 5.75% 5.75% $584.26
5 Year 6.25% 6.25% $486.23
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

Salem 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:
Fairfield,Connecticut


Salem Co-operative Bank Locations


Financial Details

Salem Co-operative Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Salem 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
Salem Co-operative Bank U.S. Bank Average
1.67% 5.29%

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, 2021, Salem Co-operative Bank had $1,227,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $70,402,000 in equity and $3,070,000 in loans loss reserves. That gives it a Texas Ratio of 1.67%.

Return on Equity
Salem Co-operative Bank U.S. Bank Average
1.74% 11.43%

Salem Co-operative Bank has a Return on Equity of 1.74% versus the BestCashCow average of 11.43%. 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
Salem Co-operative Bank U.S. Bank Average
14.53% 11.51%

Salem Co-operative Bank has a Capitalization of 14.53% versus the BestCashCow average of 11.51. 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.

Salem Co-operative Bank Balance Sheet Analysis

As of March 31, 2021, Salem Co-operative Bank had assets of $484,678,000, loans of $325,721,000, and deposits of $358,281,000. 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, 2021
ASSETS
Cash & Balances due from depository institutions $ 66.44 million
Interest-bearing balances $ 63.38 million
Total securities $ 65.07 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 325.72 million
Loan loss allowance $ 3.07 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 $ 24.23 million
     Total Assets $ 414.28 million
LIABILITIES
Total deposits $ 358.28 million
      Interest-bearing deposits $ 293.22 million
      Deposits held in domestic offices $ 358.28 million
      % insured (estimated) 85.87%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 50.51 million
Subordinated debt N.A.
All other liabilities $ 5.48 million
      Total Liabilities $ 414.28 million
      Shareholders’ Equity $ 70.40 million

Summary Income Statement

March 31, 2021
INCOME AND EXPENSES
Total Interest Income $ 3.55 million
Total Interest Expense $ 0.81 million
Net interest income $ 2.74 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.20 million
Total non interest expense $ 2.64 million
Pre-tax Net Operating Income $ 0.36 million

Bank Loan Profile?

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

Compared to other banks in New Hampshire, Salem Co-operative Bank has a significantly higher percent of 1-4 Family Residential 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 75.06
Multifamily
Mortgages
0.91
Credit Card Loans 0.00
Consumer Auto Loans 0.19
Small Business Loans 0.00
Construction and Development Loans 2.29
Commercial Real Estate 16.47
Commercial and Industrial Loans 6.00
Farm Loans 0.00

Frequently Asked Questions About Salem Co-operative Bank

Branches and Savings

Is Salem Co-operative Bank FDIC insured?

Yes. It is covered under FDIC Certificate #27824.

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

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

Is Salem Co-operative Bank a commercial bank?

Yes

Where are Salem Co-operative Bank locations?

See branch locations nearby.

Is Salem Co-operative Bank open on Saturdays?

Is Salem Co-operative Bank open on Sundays?

What time does Salem Co-operative Bank open?

What time does Salem Co-operative Bank close?

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

Do Salem Co-operative Bank ATMs accept cash deposits?

Can Salem Co-operative Bank customers use other ATMs?

Do Salem Co-operative Bank branches have notaries?

Will Salem Co-operative Bank notarize my document?

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

Will the Salem Co-operative Bank branch print checks?

Do Salem Co-operative Bank checks expire?

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

Can Salem Co-operative Bank close my account?

Does Salem Co-operative Bank Report to credit bureaus?

Does Salem Co-operative Bank Use Equifax?

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

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

Products

Does Salem Co-operative Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Salem Co-operative Bank offer personal loans?

Compare personal loan rates here.

Does Salem Co-operative Bank offer student loans?

Will Salem Co-operative Bank cash a check?

Will Salem Co-operative Bank redeem a savings bond?

Does Salem Co-operative Bank cash savings bonds?

Will Salem Co-operative Bank cash money orders?

Can Salem Co-operative Bank issue a money order?

Does Salem Co-operative Bank do currency exchange?

Background on The Bank

Who owns Salem Co-operative Bank?

How long has Salem Co-operative Bank been around?

Can Salem Co-operative Bank transfer to other banks?

Does Salem Co-operative Bank have quick pay?

Does Salem Co-operative Bank accept rolled coins?

Will Salem Co-operative Bank accept loose change?

Where is Salem Co-operative Bank headquarters?

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