BankGloucester

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REVIEWS

Popular Accounts at this Bank

APY	ACCOUNT TYPE	ACCOUNT NAME
1.51%	Reward Checking	Reward Checking 1.75% - National Average
1.46%	3-year CD	36 Months CD 1.55% - Ally Bank High Yield 3 Year CD
0.81%	2-year CD	24 Months CD 1.30% - Ally Bank Raise Your Rate 2-Year CD

View all BankGloucester rates »

Overview / Commentary

www.bankgloucester.com

978-283-8200

160 Main Street
Gloucester, MA 01930

BankGloucester is headquartered in Gloucester and is the 111^th largest bank in the state of Massachusetts. It is also the 2,725^th largest bank in the nation. It was established in 1887 and as of June of 2016, it had grown to 42 employees at 2 locations. BankGloucester has a B+ health rating.

Local Bank Review: BankGloucester (Mass)

Posted by: 51hh | Jun 19, 2010

We had to travel 1.5 hours in Mass to reach their main branch in Gloucester. At that time the RCA rate was 4.51%. They changed rate to 4.01% ($25K) one month after we opened three accounts (limit to three accounts per household). It is a small bank with personal customer service. Even though they have a small asset size ($171M), they are not picky at all about their debit card transactions (not like some banks). One of our favorite is that they give out a free set of (150) checks. We decided to keep our three accounts open due to their excellent customer service and free checks. Who knows, they may be the first to increase their rate one of these days.

Pros:

Easiness to open accounts

Free checks

Small debit transactions are ok (ten is the requirement)

Famous site for the Movie "Perfect Storm":-)

Cons:

Branch visit necessary

Local to Mass

There are only three CSRs, thus sometimes it will take longer to get service

Reply

2

Completely Inefficient

Posted by: Anonymous | May 12, 2012

Opening an account with this bank has been a complete hassle. I waited over a week for a debit card, then another 5 days for the PIN to arrive. Still waiting for online banking to be approved after 6 days. Paid a visit to the bank for help but got no assistance...they have my money but I can't pay any bills. How does that make sense?

Reply

3

Health

B+

Data as of Q2 2016

Learn more about bank health

Health Grade Components

Overall
FDIC Certificate #	26536
Year Established	1887
Employees	42
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.41%
Return on Equity - YTD	4.98%
Annual Interest Income	$4.6MM

Assets and Liabilities
Assets	Q2 2016vs Q2 2015	$227.6MM$205.1MM
Loans	Q2 2016vs Q2 2015	$185.2MM$169.3MM
Deposits	Q2 2016vs Q2 2015	$193.0MM$168.9MM
Equity Capital	Q2 2016vs Q2 2015	$18.9MM$17.9MM
Loan Loss Allowance	Q2 2016vs Q2 2015	$1.4MM$1.4MM
Unbacked Noncurrent Loans	Q2 2016vs Q2 2015	$2.6MM$5.3MM
Real Estate Owned	Q2 2016vs Q2 2015	$178.00K$0

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

BankGloucester Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%	-	-	Traditional IRA Statement Savings
0.25%	-	-	Passbook Savings
0.25%	-	-	Statement Savings
0.25%	-	-	Christmas Club Account

BankGloucester Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.35%^*	$100k^*	-	Premier Plus Money Market
OTHER TIERS: 0.25% → Up to $100k
0.25%^*	$10k^*	-	Premier Money Market
OTHER TIERS: 0.10% → Up to $10k
0.25%^*	$1k^*	-	Personal Money Market
OTHER TIERS: 0.10% → Up to $1k

BankGloucester Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
1.51%^*	-	$25k	Reward Checking
OTHER TIERS: 0.25% → $25k+
0.25%^*	$2,500^*	-	Platinum Interest Checking
OTHER TIERS: 0.10% → Up to $2,500
0.05%	-	-	50 + Free Interest Checking
0.05%	-	-	Advantage Free Checking

BankGloucester CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.91%^*	$50k^*	-	48 Months CD
OTHER TIERS: 1.76% → $500 - $50k
1.91%^*	$50k^*	-	60 Months CD
OTHER TIERS: 1.76% → $500 - $50k
1.46%^*	$50k^*	-	36 Months CD
OTHER TIERS: 1.31% → $500 - $50k
1.17%^*	$50k^*	-	30 Months CD
OTHER TIERS: 1.02% → $500 - $50k
0.81%^*	$50k^*	-	24 Months CD
OTHER TIERS: 0.76% → $500 - $50k
0.61%^*	$50k^*	-	18 Months CD
OTHER TIERS: 0.51% → $500 - $50k
0.46%	$500	-	12 Months CD
0.41%	$500	-	9 Months CD
0.35%	$2,500	-	6 Months CD

BankGloucester IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.91%^*	$50k^*	-	48 Months IRA
OTHER TIERS: 1.76% → $500 - $50k
1.46%^*	$50k^*	-	36 Months IRA
OTHER TIERS: 1.31% → $500 - $50k
1.17%^*	$50k^*	-	30 Months IRA
OTHER TIERS: 1.02% → $500 - $50k
0.81%^*	$50k^*	-	24 Months IRA
OTHER TIERS: 0.76% → $500 - $50k
0.61%^*	$50k^*	-	18 Months IRA
OTHER TIERS: 0.51% → $500 - $50k
0.46%	$500	-	12 Months IRA

Locations

BankGloucester Locations
Bankgloucester	160 Main Street	Gloucester, MA 01930
Essex Branch	15 Martin Street	Essex, MA 01929