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Overview / Commentary
978-538-7000
32 Main Street
Peabody, MA 01960

North Shore Bank, a Co-operative Bank is headquartered in Peabody and is the 64th largest bank in the state of Massachusetts. It is also the 1,419st largest bank in the nation. It was established in 1888 and as of December of 2013, it had grown to 91 employees at 8 locations. North Shore Bank, a Co-operative Bank has a A+ health rating.

Reviews (1)

Best Bank In Massachusetts

The slogan for this bank is "well north of your expecations", it lives up to its slogan.

I feel like a person, they answer their own telephones, return telephone calls, and if they don't know, they find someone who does. 

I have a checking, savings, and my IRA accounts there and wouldn't take it anywhere else.

 

 

 



Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

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 North Shore Bank, a Co-operative Bank had $470,000 in non-current loans and owned real-estate with $56.75 million in equity and loan loss allowances on hand to cover it. This gives North Shore Bank, a Co-operative Bank a Texas Ratio of 0.83% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for North Shore Bank, a Co-operative Bank decreased dramatically from 2.39% as of December 31, 2012 to 0.83% as of December 31, 2013, resulting in a positive change of 65.34%.This indicates that the balance sheet and financial strength for North Shore Bank, a Co-operative Bank has improved dramatically in recent periods.

Deposit Growth

GRADE:
B+

In the past year, North Shore Bank, a Co-operative Bank has increased its total deposits by $7.56 million, resulting in 2.1% 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 North Shore Bank, a Co-operative Bank has shown is above average.

Capitalization

GRADE:
A+

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. North Shore Bank, a Co-operative Bank has $469.64 million in assets with $56.75 million in equity, resulting in a capitalization level of 12.08%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #26484
Year Established1888
Employees91
Primary RegulatorFDIC
Assets and Liabilities
Assets$469.64 million
Loans$364.70 million
Deposits$367.28 million
Equity Capital$51.41 million
Loan Loss Allowance$5.34 million
Unbacked Noncurrent Loans$470,000
Real Estate Owned$0
Historic Data - December 2012
Assets$458.98 million
Equity Capital$49.42 million
Loan Loss Allowance$5.15 million
Unbacked Noncurrent Loans$470,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.51%
Return on Assets0.49%
Return on Equity4.49%
Interest Income$18.14 million
Rates

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

North Shore Bank, a Co-operative Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Statement Savings
0.10%--Club Account

North Shore Bank, a Co-operative Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%--Non-Profit Money Market
0.20%$10k-Business Money Market
0.15%$25k-Freedom Money Market

North Shore Bank, a Co-operative Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%--Non-Profit NOW Checking

North Shore Bank, a Co-operative Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.60%$1k-60 Month CD
1.40%$1k-48 Month CD
0.90%$1k-36 Month CD
0.60%$1k-24 Month CD
0.45%$1k-9 Month CD
0.45%$1k-12 Month CD
0.45%$1k-18 Month CD
0.30%$1k-6 Month CD

North Shore Bank, a Co-operative Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.60%$250-60 Month IRA
1.40%$250-48 Month IRA
0.90%$250-36 Month IRA
0.60%$250-24 Month IRA
0.45%$250-9 Month IRA
0.45%$250-12 Month IRA
0.45%$250-18 Month IRA
0.30%$250-6 Month IRA
Locations


North Shore Bank, a Co-operative Bank Locations
Middleton Branch161 South Main StreetMiddleton, MA 1949
Andover Street Branch248 Andover StreetPeabody, MA 1960
Staples Plaza Branch3-27 Paradise RoadSalem, MA 1970
Highland Avenue Branch319 Highland AvenueSalem, MA 1970
North Shore Bank, A Co-Operative Bank32 Main StreetPeabody, MA 1960
Danvers Branch48 Elm StreetDanvers, MA 1923
Appleseed's Square Branch50 Dodge StreetBeverly, MA 1915
West Peabody Branch637 Lowell StreetPeabody, MA 1960