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781-599-5600
400 Broadway
Lynn, MA 01904

Equitable Co-operative Bank is headquartered in Lynn and is the 133rd largest bank in the state of Massachusetts. It is also the 4,487th largest bank in the nation. It was established in 1877 and as of March of 2014, it had grown to 20 employees at 2 locations. Equitable Co-operative Bank's money market rates are 36% higher than the national average, and it has a A health rating.

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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Equitable Co-operative Bank had $677,000 in non-current loans and owned real-estate with $11.11 million in equity and loan loss allowances on hand to cover it. This gives Equitable Co-operative Bank a Texas Ratio of 6.09% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Equitable Co-operative Bank experienced no significant changes from 4.41% as of March 31, 2013 to 6.09% as of March 31, 2014, resulting in a negative change of 38.08%. This indicates that the balance sheet and financial strength for Equitable Co-operative Bank has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Equitable Co-operative Bank has increased its total deposits by $6.74 million, resulting in 8.2% 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 Equitable Co-operative Bank has shown is excellent.

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. Equitable Co-operative Bank has $110.23 million in assets with $11.11 million in equity, resulting in a capitalization level of 10.08%, which is above average.

Institution Statistics

Overall
FDIC Certificate #26453
Year Established1877
Employees20
Primary RegulatorFDIC
Assets and Liabilities
Assets$110.23 million
Loans$71.19 million
Deposits$88.94 million
Equity Capital$10.47 million
Loan Loss Allowance$638,000
Unbacked Noncurrent Loans$437,000
Real Estate Owned$240,000
Historic Data - March 2013
Assets$100.17 million
Equity Capital$11.19 million
Loan Loss Allowance$701,000
Unbacked Noncurrent Loans$437,000
Real Estate Owned$225,000
Profit Margin - Quarterly
Net Interest Margin3.11%
Return on Assets0.6%
Return on Equity6.13%
Interest Income$872,000
Rates

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

Equitable Co-operative Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.35%--Business Statement Savings
0.10%--Statement Savings
0.10%--Christmas Club
0.10%--Basic Passbook Savings

Equitable Co-operative Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.60%$25k-Exceptional MMDA
0.35%--IRA/MMDA

Equitable Co-operative Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.00%--IOLTA Checking

Equitable Co-operative Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.50%--60 Month CD
1.40%--48 Month CD
1.20%--36 Month CD
1.00%--24 Month CD
1.00%--30 Month CD
0.75%--18 Month CD
0.50%--6 Month CD
0.50%--12 Month CD
0.10%--91 Day CD

Equitable Co-operative Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.50%--60 Month IRA
1.40%--48 Month IRA
1.20%--36 Month IRA
1.00%--24 Month IRA
1.00%--30 Month IRA
0.75%--18 Month IRA
0.50%--12 Month IRA
Locations


Equitable Co-operative Bank Locations
Nahant Branch28 Nahant RoadNahant, MA 1908
Equitable Co-Operative Bank400 BroadwayLynn, MA 1904