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Overview / Commentary
877-355-4693
56 Common St
Barre, MA 01005

Barre Savings Bank is headquartered in Barre and is the 126th largest bank in the state of Massachusetts. It is also the 3,695th largest bank in the nation. It was established in 1869 and as of December of 2013, it had grown to 36 employees at 3 locations. Barre Savings Bank's money market rates are 70% higher than the national average, and it has a B health rating.

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Health

Data for Q4 2013

Institution Health

B

Texas Ratio

GRADE:
C

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 Barre Savings Bank had $5.65 million in non-current loans and owned real-estate with $16.66 million in equity and loan loss allowances on hand to cover it. This gives Barre Savings Bank a Texas Ratio of 33.92% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for Barre Savings Bank decreased slightly from 39.12% as of December 31, 2012 to 33.92% as of December 31, 2013, resulting in a positive change of 13.29%.This indicates that the balance sheet and financial strength for Barre Savings Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Barre Savings Bank has increased its total deposits by $2.77 million, resulting in 2.54% 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 Barre Savings Bank has shown is above average.

Capitalization

GRADE:
B+

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. Barre Savings Bank has $151.9 million in assets with $16.66 million in equity, resulting in a capitalization level of 10.97%, which is above average.

Institution Statistics

Overall
FDIC Certificate #90148
Year Established1869
Employees36
Primary RegulatorFDIC
Assets and Liabilities
Assets$151.90 million
Loans$116.94 million
Deposits$111.94 million
Equity Capital$13.90 million
Loan Loss Allowance$2.76 million
Unbacked Noncurrent Loans$4.86 million
Real Estate Owned$788,000
Historic Data - December 2012
Assets$149.56 million
Equity Capital$14.15 million
Loan Loss Allowance$2.53 million
Unbacked Noncurrent Loans$4.86 million
Real Estate Owned$952,000
Profit Margin - Quarterly
Net Interest Margin3.14%
Return on Assets0.07%
Return on Equity0.71%
Interest Income$5.32 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Barre Savings Bank, we are a rate comparison website and can not provide official rates or promotions.

Barre Savings Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.15%--Passbook Savings
0.15%--Statement Savings
0.15%--Christmas Club

Barre Savings Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.75%$15k-Super Money Market Account
0.15%--Money Market Account

Barre Savings Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$5k-Relationship Rewards Checking
0.15%$1k-Super NOW Checking
0.10%--NOW Checking
0.10%--Interest Checking

Barre Savings Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.50%$500-60 Month CD
1.05%$500-48 Month CD
1.00%$500-30 Month CD
1.00%$500-36 Month CD
0.80%$500-24 Month CD
0.60%$500-18 Month CD
0.50%$500-12 Month CD
0.30%$500-6 Month CD
0.25%$500-3 Month CD

Barre Savings Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.50%$500-60 Month IRA (Traditional,Roth,SEP)
1.05%$500-48 Month IRA (Traditional,Roth,SEP)
1.00%$500-12 Month IRA (Traditional,Roth,SEP)
1.00%$500-6 Month IRA (Traditional,Roth,SEP)
1.00%$500-18 Month IRA (Traditional,Roth,SEP)
1.00%$500-24 Month IRA (Traditional,Roth,SEP)
1.00%$500-30 Month IRA (Traditional,Roth,SEP)
1.00%$500-36 Month IRA (Traditional,Roth,SEP)
Locations


Barre Savings Bank Locations
Princeton Branch206 Worcester RoadPrinceton, MA 1541
Barre Savings Bank56 Common StBarre, MA 1005
Paxton Branch713 Pleasant StreetPaxton, MA 1612