Bank of Cape Cod is headquartered in Hyannis and is the 108th largest bank in the state of Massachusetts. It is also the 2,784th largest bank in the nation. It was established in 2006 and as of December of 2013, it had grown to 32 employees at 3 locations. Bank of Cape Cod's money market rates are 48% higher than the national average, and it boasts a A+ health rating.
I RECENTLY OPENED AN ACCOUNT AT BANK OF CAPE COD FALMOUTH. ON PAPER I WAS IMPRESSED WITH THERE FEES AND RATES COMPARED TO THIER COMPETITORS . OF COURSE THIS IS ONLY A PORTION OF WHAT A BANK REPRESENTS IN A BUSINESS PORTFOLIO. OTHER CONSIDERATIONS ARE OF COURSE SECURITY AND THE OVERALL RESPONSE OF THE STAFF TO THE CLIENT. BECAUSE THIS BANK IS RELAITVELY NEW AND MODERATE IN SIZE ,PERSONAL ATTENTION CAN BE GAURENTEED TO YOUR ISSUES AND TO PUT IT MILDLY, I'VE NEVER SEEN A LINE . IN FACT I GO THROUGH THIER DRIVE THRU ONCE A WEEK WITHOUT A WAIT. WHEN I DO HAVE TO GO IN THIER LOBBY I'VE ONLY ONCE SEEN ANOTHER CUSTOMER. THIS IS IN THIER FALMOUTH BRANCH. THEY CURRENTLY HAVE 3 BRANCHES , SO I CAN'T COMMENT ON THIER OTHERS. AS FAR AS CUSTOMER SERVICE GOES I'VE HAD MULTIPLE ENCOUNTERS WITH MIXED REVIEWS ON THIER SERVICE. IN ONE INSTANCE DUE TO MY ERROR THE A.T.M. MACHINE KEPT MY CARD DUE TO MY OWN ERROR AND SINCE THE BRANCH WAS OPEN I ENTERED & INQUIRED ABOUT RETRIEVAL. THE TELLER WAS UNAWARE OF THE PROCEDURE WITH THIS ISSUE AND BELIEVED THAT I WOULD NOT BE ABLE TO RETRIEVE MY CARD. THE BANK MANAGER STEPPED OUT OF HER OFFICE AND RESOLVED AND ASSUMED RESPONSIBILITY OF THE SITUATION, RETRIEVED MY CARD, HAD ME FILL OUT PAPERWORK AND RETURNED MY CARD. ON ANOTHER INSTANCE I DID NOT HAVE MY ACCOUNT NUMBER AND SINCE THERE WAS NOT A LINE I THOUGHT THIS WOULD NOT INCONVIENENCE THE CLERK. SHE SUGGESTED IN THE FUTURE I HAVE MY ACCOUNT NUMBER READY AND FILLED OUT A CARD FOR ME TO KEEP . I GENERALLY DON'T HOLD MY ACCOUNT NUMBER IN MY POSSESION WHILE TRAVELING IN CASE I LOSE MY WALLET. ON ANOTHER INSTANCE I NEEDED HELP WITH A WIRE TRANSFER AND ASKED FOR ASSISTANCE IN DETERMINING ANY SORT OF SAFETY MEASURES IN CONDUCTING THIS. I SPOKE WITH THE BANK BRANCH MANAGER AND WAS BASICALLY TOLD I'M ON MY OWN WITH A FEW SUGGESTIONS, BUT SHE WOULD ASSIST IN COMPLETEING IT. SO ON MY OWN I SPENT HOURS CORRESPONDING WITH THE ALTERNATE BANKS AND VENDORS TO ESTABLISH SOME SORT OF LEGITAMECY. IN ANOTHER INSTANCE I WAS MAKING A PURCHASE WITH MY BANK CARD AND ASKED TO UPDATE MY CARD WITH A RECENT ADDED SECURITY MEASURE http://www.mastercard.us/securecode.html] . WHEN I WENT THROUGH THE PROCESS TO REGISTER I WAS DIVERTED TO BANK OF CAPE COD. WHEN I TRIED TO CONTACT MY CREDIT CARD COMPANY I WAS ALSO REROUTED TO BANK OF CAPE COD'S PHONE NUMBER. UNFORTUNATELY IT WAS AFTER HOURS AND THERE WERE CLOSED AND NO ONE WAS THERE TO ANSWER. WHEN I CALLED DURING NORMAL BUSINESS HOURS THEY WERE UNAWARE OF THE PROGRAM AND SAID THEY WOULD GET BACK TO ME. ON MY OWN I CONTACTED MY CARD COMPANY AND WAS DIRECTED TO THE CORRECT REGISTRATION PAGE AND FOLLOWED THE DIRECTIONS TO REGISTER. IN HINESIGHT, THIS PROCESSS SHOULD HAVE DIRECTED TO THE ABOVE LINK & NOT BANK OF CAPE COD.
IN CONCLUSION ; I LOOK FOR TRUST,SECURITY,SAFETY, AND HELP IN ANY SITUATION WHICH AFFECTS MY HEALTH AND FINANCES. THROUGH MY INITIAL ACCOUNT OPENING I HAVE ALREADY BROUGHT ANOTHER CLIENT TO THIS ESTABLISHMENT. I CURRENTLY AM IN A FINANCIAL & LEGAL SITUATION WHERE I'M TRYING TO RESOLVE FINANCIAL ,LEGAL, AND I.D. FRAUD WITH A FORMER PARTNER WHO HAS MY EXPIRED NANTUCKET LICENSE AND MY S.S. NUMBER. THROUGH ANOTHER INSTITUTION ONE ACCOUNT HAS BEEN OPENED AND CLOSED WITH MY LICENCE SUBMITTED AS PROOF OF IDENTIFICATION . WE WERE ONLY AWARE OF THIS WHEN I OPENED AN ACCOUNT AND WAS INFORMED BY THE FINANCIAL INSTITUTION,NOT BANK OF CAPE COD] THAT MY FUNDS WERE FROZEN . FOR THIS REASON I'M HIGHLY SENSITIVE TO MY FUTURE INVESTMENTS & ACCOUNTS NO MATTER HOW BIG OR SMALL. WE ARE HAVING OF COURSE TO RETAIN LEGAL COUNSEL TO SEE THE FULL APPLICATION SUBMITTED AND RESOLVE THIS LEGAL FINANCIAL MATTER & ALSO SEE IF MY S.S.# WAS ALSO SUBMITTED. I'M EXPECTING BANK OF CAPE COD CONDUCTS THEMSELVES PROFESSIONALLY AND FOLLOWS FDIC FEDERAL GUIDELINES IN DEALING WITH MY FUNDS.
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 December 31, 2013 Bank of Cape Cod had $884,000 in non-current loans and owned real-estate with $26.49 million in equity and loan loss allowances on hand to cover it. This gives Bank of Cape Cod a Texas Ratio of 3.34% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
In the past year, Bank of Cape Cod has increased its total deposits by $13.98 million, resulting in 8.4% 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 of Cape Cod has shown is excellent.
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 of Cape Cod has $224.86 million in assets with $26.49 million in equity, resulting in a capitalization level of 11.78%, which is excellent.
|FDIC Certificate #||58270|
|Assets and Liabilities|
|Equity Capital||$24.44 million|
|Loan Loss Allowance||$2.05 million|
|Unbacked Noncurrent Loans||$884,000|
|Real Estate Owned||$0|
|Historic Data - December 2012|
|Equity Capital||$17.87 million|
|Loan Loss Allowance||$1.80 million|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Net Interest Margin||3.38%|
|Return on Assets||0.26%|
|Return on Equity||2.61%|
|Interest Income||$8.28 million|
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|0.65%||$100k||-||Premier Money Market Savings|
|0.45%||$10k||-||Money Market Checking|
|1.75%||$2,500||$30k||Easy Rewards Checking|
|0.70%||$2,500||-||Super NOW Checking|
|0.10%||-||-||Easy Rewards Checking|
|1.50%||$1k||-||30 Month CD|
|1.35%||$1k||-||60 Month CD|
|1.10%||$1k||-||48 Month CD|
|1.00%||$1k||-||18 Month CD|
|0.90%||$1k||-||13 Month CD|
|0.85%||$1k||-||36 Month CD|
|0.80%||$1k||-||24 Month CD|
|0.50%||$1k||-||15 Month CD|
|0.40%||$1k||-||9 Month CD|
|0.40%||$1k||-||12 Month CD|
|0.30%||$1k||-||6 Month CD|
|0.20%||$1k||-||3 Month CD|
|1.35%||$1k||-||60 Month IRA (Traditional,Roth,SEP)|
|1.10%||$1k||-||48 Month IRA (Traditional,Roth,SEP)|
|0.85%||$1k||-||36 Month IRA (Traditional,Roth,SEP)|
|0.80%||$1k||-||24 Month IRA (Traditional,Roth,SEP)|
|0.40%||$1k||-||12 Month IRA (Traditional,Roth,SEP)|
|0.30%||$1k||-||6 Month IRA (Traditional,Roth,SEP)|
|Bank of Cape Cod Locations|
|Bank Of Cape Cod||232 Main Street||Hyannis, MA 2601|
|Bank Of Cape Cod Branch||445 Main Street||Falmouth, MA 2540|
|Osterville Branch||57 West Bay Road||Osterville, MA 2655|