Institution Statistics
| FDIC Certificate # | 26536 | | CCBSIF # | Member | | BankRate Report | View | | Year Established | 1887 | | Employees | 28 | | Primary Regulator | FDIC |
Assets and Liabilities | | Assets | $170.72 million | | Loans | $126.84 million | | Deposits | $132.56 million | | Equity Capital | $13.63 million | | Loan Loss Allowance | $1.15 million | | Unbacked Noncurrent Loans | $1.44 million | | Real Estate Owned | $128,000 |
Historic Data - March 2009 | | Assets | $164.34 million | | Equity Capital | $13.20 million | | Loan Loss Allowance | $1.15 million | | Unbacked Noncurrent Loans | $3.79 million | | Real Estate Owned | $128,000 |
Profit Margin - Quarterly | | Net Interest Margin | 3.41% | | Return on Assets | 0.46% | | Return on Equity | 5.76% | | Interest Income | $2.00 million |
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Institution Health
Overall Score:
4 out of 5
| Texas Ratio |  | | The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2010 Bank Gloucester had $1.57 million in non-current loans and owned real-estate with $14.78 million in equity and loan loss allowances on hand to cover it. This gives Bank Gloucester a Texas Ratio of 10.59% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk. | | Texas Ratio Trend |  | | The Texas Ratio for Bank Gloucester decreased significantly from 27.28% as of March 31, 2009 to 10.59% as of March 31, 2010, resulting in a positive change of 61.17%.This indicates that the balance sheet and financial strength for Bank Gloucester has improved significantly in recent periods. | | Deposit Growth |  | | In the past year, Bank Gloucester has increased it's total deposits by $32,000, resulting in 0.02% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Bank Gloucester has shown is average. | | Capitalization |  | | Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Bank Gloucester has $170.72 million in assets with $14.78 million in equity, resulting in a capitalization level of 8.66%, which is below average. |
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Local Bank Review: BankGloucester (Mass)
We had to travel 1.5 hours in Mass to reach their main branch in Gloucester. At that time the RCA rate was 4.51%. They changed rate to 4.01% ($25K) one month after we opened three accounts (limit to three accounts per household). It is a small bank with personal customer service. Even though they have a small asset size ($171M), they are not picky at all about their debit card transactions (not like some banks). One of our favorite is that they give out a free set of (150) checks. We decided to keep our three accounts open due to their excellent customer service and free checks. Who knows, they may be the first to increase their rate one of these days.
Pros:
Easiness to open accounts
Free checks
Small debit transactions are ok (ten is the requirement)
Famous site for the Movie "Perfect Storm":-)
Cons:
Branch visit necessary
Local to Mass
There are only three CSRs, thus sometimes it will take longer to get service