Haverhill Bank is headquartered in Haverhill and is the 91st largest bank in the state of Massachusetts. It is also the 2,040th largest bank in the nation. It was established in 1877 and as of December of 2013, it had grown to 73 employees at 7 locations. Haverhill Bank has a A health rating.
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Data for Q4 2013
Institution Health
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 December 31, 2013 Haverhill Bank had $1.56 million in non-current loans and owned real-estate with $36.37 million in equity and loan loss allowances on hand to cover it. This gives Haverhill Bank a Texas Ratio of 4.29% 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 Haverhill Bank decreased slightly from 5.12% as of December 31, 2012 to 4.29% as of December 31, 2013, resulting in a positive change of 16.09%.This indicates that the balance sheet and financial strength for Haverhill Bank has improved slightly in recent periods.
Deposit Growth
In the past year, Haverhill Bank has increased its total deposits by $5.46 million, resulting in 2.12% 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 Haverhill Bank has shown is above 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. Haverhill Bank has $318.75 million in assets with $36.37 million in equity, resulting in a capitalization level of 11.41%, which is excellent.
Institution Statistics
| Overall | |
|---|---|
| FDIC Certificate # | 26411 |
| Year Established | 1877 |
| Employees | 73 |
| Primary Regulator | FDIC |
| Assets and Liabilities | |
|---|---|
| Assets | $318.75 million |
| Loans | $253.20 million |
| Deposits | $262.42 million |
| Equity Capital | $33.75 million |
| Loan Loss Allowance | $2.62 million |
| Unbacked Noncurrent Loans | $1.48 million |
| Real Estate Owned | $80,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $306.15 million |
| Equity Capital | $33.73 million |
| Loan Loss Allowance | $2.22 million |
| Unbacked Noncurrent Loans | $1.48 million |
| Real Estate Owned | $0 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.24% |
| Return on Assets | 0.43% |
| Return on Equity | 4.04% |
| Interest Income | $11.28 million |
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Haverhill Bank Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.65% | - | $50k | Rewards Checking | |
| 0.10% | - | - | Rewards Checking |
Haverhill Bank CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 2.27% | $500 | - | 60 Month CD | |
| 1.26% | $500 | - | 36 Month CD | |
| 0.90% | $500 | - | 24 Month CD | |
| 0.90% | $500 | - | 30 Month CD | |
| 0.65% | $500 | - | 15 Month CD | |
| 0.65% | $500 | - | 18 Month CD | |
| 0.50% | $500 | - | 12 Month CD | |
| 0.30% | $500 | - | 6 Month CD | |
| 0.30% | $500 | - | 9 Month CD | |
| 0.15% | $500 | - | 3 Month CD |
Haverhill Bank IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 2.38% | - | - | 60 Month Fixed IRA (Traditional,Roth,CESA) | |
| 2.38% | - | - | 60 Month Variable IRA (Traditional,Roth,CESA) | |
| 1.36% | - | - | 36 Month Fixed IRA (Traditional,Roth,CESA) | |
| 1.36% | - | - | 36 Month Variable IRA (Traditional,Roth,CESA) | |
| 1.00% | - | - | 24 Month Fixed IRA (Traditional,Roth,CESA) | |
| 1.00% | - | - | 24 Month Variable IRA (Traditional,Roth,CESA) | |
| 0.75% | - | - | 18 Month Fixed IRA (Traditional,Roth,CESA) | |
| 0.75% | - | - | 18 Month Variable IRA (Traditional,Roth,CESA) | |
| 0.60% | - | - | 12 Month Fixed IRA (Traditional,Roth,CESA) | |
| 0.60% | - | - | 12 Month Variable IRA (Traditional,Roth,CESA) |
| Haverhill Bank Locations | ||
|---|---|---|
| Northeast Community Bank Branch | 100 Lafayette Square | Haverhill, MA 1832 |
| Main Street Haverhill Branch | 1094 Main Street | Haverhill, MA 1830 |
| Whitter Voc Tech High School Office Branch | 115 Amesbury Line Road | Haverhill, MA 1830 |
| Haverhill High Office Branch | 137 Monument Ave. | Haverhill, MA 1832 |
| Haverhill Branch | 163 South Main Street | Haverhill, MA 1835 |
| Haverhill Bank | 180 Merrimack Street | Haverhill, MA 1830 |
| West Main Street Branch | 6 Main Street | Merrimac, MA 1860 |