Wakefield Co-operative Bank
Our records indicate that this bank has been acquired by Reading Co-operative Bank.
Headquarters
342 Main St
Wakefield, MA 01880
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2026 Overview
General Bank Information
Wakefield Co-operative Bank is an FDIC insured institution located in Wakefield, MA. It was founded in 1887 and has approximately $0.31 billion in assets. Customers can open an account at one of its 2 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 26516 |
| Date Established | 1887 |
| Assets | $ 304.96 million |
| Loans | $ 250.64 million |
| Deposits | $ 261.02 million |
| Capital | $ 18.07 million |
For a more detailed analysis of Wakefield Co-operative Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - September 27, 2026
Your Current Location: New York, NY 10116
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Loan Rates - September 27, 2026
Your Current Location: New York, NY 10116
| Refinance Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 10 Year Fixed Conforming See Amortization Table |
6.89% | 6.63% | $3,653.92 | |
| 15 Year Fixed Conforming See Amortization Table |
6.81% | 6.63% | $2,809.58 | |
| 15 Year Fixed Jumbo See Amortization Table |
6.94% | 6.75% | $2,831.71 | |
| 20 Year Fixed Conforming See Amortization Table |
7.27% | 7.13% | $2,505.02 | |
| 20 Year Fixed Jumbo See Amortization Table |
7.40% | 7.25% | $2,529.20 | |
| 30 Year Fixed Jumbo See Amortization Table |
7.61% | 7.50% | $2,237.49 | |
| 30 Year Fixed Conforming See Amortization Table |
7.48% | 7.88% | $2,320.22 |
| Purchase Mortgage Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| 7 Year Adjustable Conforming See Amortization Table |
7.59% | 6.63% | $2,049.00 | |
| 10 Year Fixed Conforming See Amortization Table |
6.89% | 6.63% | $3,653.92 | |
| 15 Year Fixed Conforming See Amortization Table |
6.81% | 6.63% | $2,809.58 | |
| 15 Year Fixed Jumbo See Amortization Table |
6.94% | 6.75% | $2,831.71 | |
| 20 Year Fixed Conforming See Amortization Table |
7.27% | 7.13% | $2,505.02 | |
| 20 Year Fixed Jumbo See Amortization Table |
7.40% | 7.25% | $2,529.20 | |
| 30 Year Fixed Jumbo See Amortization Table |
7.61% | 7.50% | $2,237.49 | |
| 30 Year Fixed Conforming See Amortization Table |
7.48% | 7.88% | $2,320.22 |
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
Wakefield 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:
New York City,New York
Wakefield Co-operative Bank Locations around zip code 10116
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 198.81 | A | View Lobby Hours | |
| 201.20 | B | View Lobby Hours |
Climate Policy and Initiatives
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Financial Details
Wakefield Co-operative Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Wakefield 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
| Wakefield Co-operative Bank | U.S. Bank Average |
|---|---|
| 5.2% | 5.57% |
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, 2025, Wakefield Co-operative Bank had $1,031,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $18,070,000 in equity and $1,750,000 in loans loss reserves. That gives it a Texas Ratio of 5.2%.
Return on Equity
| Wakefield Co-operative Bank | U.S. Bank Average |
|---|---|
| -4.48% | 10.69% |
Wakefield Co-operative Bank has a Return on Equity of -4.48% versus the BestCashCow average of 10.69%. 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
| Wakefield Co-operative Bank | U.S. Bank Average |
|---|---|
| 5.93% | 11.75% |
Wakefield Co-operative Bank has a Capitalization of 5.93% versus the BestCashCow average of 11.75. 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.
Wakefield Co-operative Bank Balance Sheet Analysis
As of March 31, 2025, Wakefield Co-operative Bank had assets of $305,779,000, loans of $250,643,000, and deposits of $261,018,000. 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, 2025| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 7.40 million |
| Interest-bearing balances | $ 5.74 million |
| Total securities | $ 34.94 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 250.64 million |
| Loan loss allowance | $ 1.75 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 0.52 million |
| All other assets | $ 6.99 million |
| Total Assets | $ 287.71 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 261.02 million |
| Interest-bearing deposits | $ 227.93 million |
| Deposits held in domestic offices | $ 261.02 million |
| % insured (estimated) | 84.68% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 4.95 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 0.37 million |
| Total Liabilities | $ 287.71 million |
| Shareholders’ Equity | $ 17.25 million |
Summary Income Statement
December 31, 2025| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 3.17 million |
| Total Interest Expense | $ 1.80 million |
| Net interest income | $ 1.37 million |
| Provision for loan and lease losses | N.A. |
| Total non interest income | $ 0.14 million |
| Total non interest expense | $ 1.87 million |
| Pre-tax Net Operating Income | $ 0.45 million |
Bank Loan Profile?
The top three loan types in Wakefield Co-operative Bank’s loan portfolio are 1-4 Family Residential Loans, Commercial Real Estate, and Construction and Development Loans.
Compared to other banks in Massachusetts, Wakefield 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 | 63.79 | ✓ | ||
| Multifamily Mortgages |
6.33 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 2.59 | ✓ | ||
| Construction and Development Loans | 7.24 | ✓ | ||
| Commercial Real Estate | 8.28 | ✓ | ||
| Commercial and Industrial Loans | 0.10 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
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