Merrimac Savings Bank

Merrimac Savings Bank is headquartered in Merrimac and is the 155^th largest bank in the state of Massachusetts. It is also the 6,053^rd largest bank in the nation. It was established in 1871 and as of March of 2012, it had grown to 19 employees at 2 locations. Merrimac Savings Bank has a 3-star health rating.

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Data for Q1 2012

Institution Statistics Merrimac Savings Bank FDIC Certificate # 90240 BankRate Report View Year Established 1871 Employees 19 Primary Regulator FDIC Assets and Liabilities Assets $60.80 million Loans $41.79 million Deposits $55.15 million Equity Capital $4.51 million Loan Loss Allowance $357,000 Unbacked Noncurrent Loans $826,000 Real Estate Owned $226,000 Historic Data - March 2011 Assets $62.04 million Equity Capital $3.66 million Loan Loss Allowance $290,000 Unbacked Noncurrent Loans $736,000 Profit Margin - Quarterly Net Interest Margin 3.75% Return on Assets 1.35% Return on Equity 18.5% Interest Income $609,000

Institution Health Overall Score: 3 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, 2012 Merrimac Savings Bank had $1.05 million in non-current loans and owned real-estate with $4.86 million in equity and loan loss allowances on hand to cover it. This gives Merrimac Savings Bank a Texas Ratio of 21.62% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Merrimac Savings Bank held steady from 18.63% as of March 31, 2011 to 21.62% as of March 31, 2012, resulting in a negative change of 16.05%. This indicates that the balance sheet and financial strength for Merrimac Savings Bank has held steady in recent periods. Deposit Growth In the past year, Merrimac Savings Bank has decreased its total deposits by $-762,000, resulting in -1.36% 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 Merrimac Savings Bank has shown is below 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. Merrimac Savings Bank has $60.8 million in assets with $4.86 million in equity, resulting in a capitalization level of 8.00%, which is average.

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