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160 Main Street
Gloucester, MA 01930

BankGloucester is headquartered in Gloucester and is the 109th largest bank in the state of Massachusetts. It is also the 2,676th largest bank in the nation. It was established in 1887 and as of December of 2016, it had grown to 43 employees at 2 locations. BankGloucester has a B+ health rating.

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Reviews (2)

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.


Easiness to open accounts

Free checks

Small debit transactions are ok (ten is the requirement)

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


Branch visit necessary

Local to Mass

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

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?


Health Grade Components

FDIC Certificate #26536
Year Established1887
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.47%
Return on Equity - YTD5.71%
Annual Interest Income$9.3MM
Assets and Liabilities
AssetsQ4 2016vs Q4 2015$234.5MM$220.4MM
LoansQ4 2016vs Q4 2015$196.8MM$183.7MM
DepositsQ4 2016vs Q4 2015$201.5MM$175.3MM
Equity CapitalQ4 2016vs Q4 2015$19.3MM$18.3MM
Loan Loss AllowanceQ4 2016vs Q4 2015$1.5MM$1.5MM
Unbacked Noncurrent LoansQ4 2016vs Q4 2015$2.9MM$3.7MM
Real Estate OwnedQ4 2016vs Q4 2015$0$0

Rates for BankGloucester are currently being reviewed.


BankGloucester Locations
Bankgloucester160 Main StreetGloucester, MA 01930
Essex Branch15 Martin StreetEssex, MA 01929