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Overview / Commentary
603-898-2153
3 South Broadway
Salem, NH 03079

Salem Co-operative Bank is headquartered in Salem and is the 9th largest bank in the state of New Hampshire. It is also the 1,691st largest bank in the nation. It was established in 1922 and as of March of 2014, it had grown to 53 employees at 2 locations. Salem Co-operative Bank's savings rates are 15% 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 Salem Co-operative Bank had $768,000 in non-current loans and owned real-estate with $61.42 million in equity and loan loss allowances on hand to cover it. This gives Salem Co-operative Bank a Texas Ratio of 1.25% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B

The Texas Ratio for Salem Co-operative Bank decreased slightly from 1.46% as of March 31, 2013 to 1.25% as of March 31, 2014, resulting in a positive change of 14.61%.This indicates that the balance sheet and financial strength for Salem Co-operative Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
C-

In the past year, Salem Co-operative Bank has decreased its total deposits by -$10.46 million, resulting in -3.78% 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 Salem Co-operative Bank has shown is below 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. Salem Co-operative Bank has $395.12 million in assets with $61.42 million in equity, resulting in a capitalization level of 15.54%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #27824
Year Established1922
Employees53
Primary RegulatorFDIC
Assets and Liabilities
Assets$395.12 million
Loans$258.97 million
Deposits$265.99 million
Equity Capital$59.35 million
Loan Loss Allowance$2.08 million
Unbacked Noncurrent Loans$768,000
Real Estate Owned$0
Historic Data - March 2013
Assets$402.40 million
Equity Capital$60.03 million
Loan Loss Allowance$1.84 million
Unbacked Noncurrent Loans$768,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.91%
Return on Assets-0.3%
Return on Equity-2.03%
Interest Income$3.53 million
Rates

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

Salem Co-operative Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.60%$100k-Partnership Savings
0.10%--Statement Savings
0.10%--Tiered Passbook Savings
0.10%--Passbook Savings
0.10%$100-Club Account

Salem Co-operative Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.40%$50k-Business Money Market Account

Salem Co-operative Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.55%$100k-Partnership Checking
0.55%--IOLTA Account
0.10%--Senior Advantage Checking
0.10%$500-NOW Checking
0.10%--Business Now Account
0.10%--Communities' Best Checking

Salem Co-operative Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.40%$500-60 Month CD
1.25%$500-30 Month CD
1.25%$500-36 Month CD
1.25%$500-48 Month CD
1.00%$500-24 Month CD
0.55%$500-11 Month CD Special
0.50%$500-18 Month CD
0.40%$500-12 Month CD
0.30%$500-6 Month CD

Salem Co-operative Bank IRA Rates

DetailsAPYMINMAXPRODUCT
2.25%$500-60 Month IRA
1.25%$500-30 Month IRA
1.25%$500-36 Month IRA
1.25%$500-48 Month IRA
1.00%$500-24 Month IRA
0.55%$500-11 Month IRA Special
0.50%$500-18 Month IRA
0.40%$500-12 Month IRA
Locations


Salem Co-operative Bank Locations
284 Merrimack Street284 Merrimack StreetMethuen, MA 1844
Salem Co-Operative Bank3 South BroadwaySalem, NH 3079