Wakefield Co-operative Bank

342 Main Street
Wakefield, MA 01880

 

2018 Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 26516
Date Established 1887
Assets $0.22 billion
Loans $0.17 billion
Deposits $0.19 billion
Capital $0.02 billion

Wakefield Co-operative Bank is an FDIC insured institution located in Wakefield, MA. It was founded in 1887 and has approximately $0.22 billion in assets. Customers can open an account at one of its 2 branches.

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.

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, Wakefield Co-operative 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 74.37
Multifamily
Mortgages
4.21
Credit Card Loans 0.00
Consumer Auto Loans 0.01
Small Business Loans 3.49
Construction and Development Loans 10.32
Commercial Real Estate 11.69
Commercial and Industrial Loans 0.16
Farm Loans 0.00

Deposit Rates - November 19, 2018

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Money Market
0.15% $1,000 - Learn MoreShow Less
Premium Money Market Account
0.05% $10,000 $24,999 Learn MoreShow Less
Premium Money Market Account
0.10% $25,000 $49,999 Learn MoreShow Less
CD Rates APY MIN MAX
Special: 3 Mo CD
1.20% $500 - Learn MoreShow Less

Fixed IRA Rates APY MIN MAX
Fixed IRA
0.75% $500 - Learn MoreShow Less
Special: 3 Mo FIRA
1.20% $500 - Learn MoreShow Less
Special: 9 Mo FIRA
1.50% $500 - Learn MoreShow Less
Special: 17 Mo FIRA
2.50% $500 - Learn MoreShow Less
Special: 36 Mo FIRA
1.10% $10,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA
0.05% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.02% $1 - Learn MoreShow Less
Checking Rates APY MIN FEE
Free Checking 0.00% $0 $0.00 Learn MoreShow Less
N.O.W. 0.00% $750 $0.00 Learn MoreShow Less
Premier Checking 0.00% $25,000 $15.00 Learn MoreShow Less

Loan Rates - November 19, 2018

Your Current Location: Virginia, VA 20146

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

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:
Ashburn,Virginia


Wakefield Co-operative Bank Locations

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
7.02% 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, Wakefield Co-operative Bank had $1,249,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $16,472,000 in equity and $1,332,000 in loans loss reserves. That gives it a Texas Ratio of 7.02%.

Return on Equity
Wakefield Co-operative Bank U.S. Bank Average
2.37% 9.77%

Wakefield Co-operative Bank has a Return on Equity of 2.37% 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
Wakefield Co-operative Bank U.S. Bank Average
7.37% 12.31%

Wakefield Co-operative Bank has a Capitalization of 7.37% 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.

Wakefield Co-operative Bank Balance Sheet Analysis

As of June 30, 2018, Wakefield Co-operative Bank had assets of $223,515,000, loans of $172,099,000, and deposits of $186,836,000. 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 $0.00 billion
Interest-bearing balances $0.00 billion
Total securities $0.04 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.17 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 $0.00 billion
     Total Assets $0.21 billion
LIABILITIES
Total deposits $0.19 billion
      Interest-bearing deposits $0.16 billion
      Deposits held in domestic offices $0.19 billion
      % insured (estimated) 89.18%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.02 billion
Subordinated debt $0.00 billion
All other liabilities $0.00 billion
      Total Liabilities $0.21 billion
      Shareholders’ Equity $0.02 billion

Summary Income Statement

June 30, 2018
INCOME AND EXPENSES
Total Interest Income $0.00 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 Wakefield Co-operative Bank

Branches and Savings

Is Wakefield Co-operative Bank FDIC insured?

Yes. It is covered under FDIC Certificate #26516.

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

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

Is Wakefield Co-operative Bank a commercial bank?

Yes

Where are Wakefield Co-operative Bank locations?

See branch locations nearby.

Is Wakefield Co-operative Bank open on Saturdays?

Is Wakefield Co-operative Bank open on Sundays?

What time does Wakefield Co-operative Bank open?

What time does Wakefield Co-operative Bank close?

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

Do Wakefield Co-operative Bank ATMs accept cash deposits?

Can Wakefield Co-operative Bank customers use other ATMs?

Do Wakefield Co-operative Bank branches have notaries?

Will Wakefield Co-operative Bank notarize my document?

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

Will the Wakefield Co-operative Bank branch print checks?

Do Wakefield Co-operative Bank checks expire?

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

Can Wakefield Co-operative Bank close my account?

Does Wakefield Co-operative Bank Report to credit bureaus?

Does Wakefield Co-operative Bank Use Equifax?

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

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

Products

Does Wakefield Co-operative Bank offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Wakefield Co-operative Bank offer personal loans?

Compare personal loan rates here.

Does Wakefield Co-operative Bank offer student loans?

Will Wakefield Co-operative Bank cash a check?

Will Wakefield Co-operative Bank redeem a savings bond?

Does Wakefield Co-operative Bank cash savings bonds?

Will Wakefield Co-operative Bank cash money orders?

Can Wakefield Co-operative Bank issue a money order?

Does Wakefield Co-operative Bank do currency exchange?

Background on The Bank

Who owns Wakefield Co-operative Bank?

How long has Wakefield Co-operative Bank been around?

Can Wakefield Co-operative Bank transfer to other banks?

Does Wakefield Co-operative Bank have quick pay?

Does Wakefield Co-operative Bank accept rolled coins?

Will Wakefield Co-operative Bank accept loose change?

Where is Wakefield Co-operative Bank headquarters?

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