Northmark Bank

Northmark Bank Locations
89 Turnpike Street
North Andover, MA 1845
978-686-9100
www.northmarkbank.com

Northmark Bank is headquartered in North Andover and is the 89th largest bank in the state of Massachusetts. It is also the 2,098th largest bank in the nation. It was established in 1987 and as of March of 2012, it had grown to 42 employees at 3 locations. Northmark Bank has a 5-star health rating.



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Northmark Bank Checking Account Rates

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0.05%--NOW Account

Northmark Bank Savings Account Rates

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0.10%$200-Personal Statement Savings
0.10%$300-Personal Passbook Savings
0.10%$200-Non-personal Statement Savings
0.10%$300-Non-personal Passbook Savings

Northmark Bank Money Market Rates

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0.30%$75k-Money Fund
0.25%$100k-MoneyMarket

Northmark Bank CD Rates

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1.06%$500-60 Month CD
1.00%$500-36 Month CD
1.00%$500-48 Month CD
0.90%$500-30 Month CD
0.80%$500-24 Month CD
0.70%$500-18 Month Bump Up CD
0.50%$500-15 Month Bump Up CD
0.50%$500-1 Year Interest Paid at Maturity CD
0.40%$500-1 Year CD
0.35%$500-9 Month Interest Paid at Maturity CD
0.30%$500-9 Month CD
0.30%$500-6 Month Interest Paid at Maturity CD
0.25%$500-6 Month CD
0.20%$500-3 Month Interest Paid at Maturity CD
0.15%$500-3 Month CD

Northmark Bank IRA Rates

ApyMinMaxProduct
1.06%$500-60 Month IRA CD
1.00%$500-36 Month IRA CD
1.00%$500-48 Month IRA CD
0.90%$500-30 Month IRA CD
0.80%$500-24 Month IRA CD
0.70%$500-18 Month Bump Up IRA CD
0.50%$500-15 Month Bump Up IRA CD
0.50%$500-1 Year Interest Paid at Maturity IRA CD
0.40%$500-1 Year IRA CD
0.35%$500-9 Month Interest Paid at Maturity IRA CD
0.30%$500-9 Month IRA CD
0.30%$500-6 Month Interest Paid at Maturity IRA CD
0.25%$500-6 Month IRA CD
0.20%$500-3 Month Interest Paid at Maturity IRA CD
0.15%$500-3 Month IRA CD

Rates updated: 5/27/2012

Data for Q1 2012


Institution Statistics


Northmark Bank
FDIC Certificate #27119
BankRate ReportView
Year Established1987
Employees42
Primary RegulatorFDIC

Assets and Liabilities

Assets$310.76 million
Loans$238.93 million
Deposits$266.01 million
Equity Capital$34.57 million
Loan Loss Allowance$2.88 million

Historic Data - March 2011

Assets$310.08 million
Equity Capital$33.23 million
Loan Loss Allowance$2.71 million

Profit Margin - Quarterly

Net Interest Margin3.5%
Return on Assets0.79%
Return on Equity7%
Interest Income$3.09 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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 Northmark Bank had $0 in non-current loans and owned real-estate with $37.45 million in equity and loan loss allowances on hand to cover it. This gives Northmark Bank a Texas Ratio of 0.00% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Deposit Growth4
In the past year, Northmark Bank has increased its total deposits by $3.51 million, resulting in 1.34% 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 Northmark Bank has shown is above average.
Capitalization5
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. Northmark Bank has $310.76 million in assets with $37.45 million in equity, resulting in a capitalization level of 12.05%, which is excellent.
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