BayCoast Bank is headquartered in SWANSEA and is the 19th largest bank in the state of Massachusetts. It is also the 405th largest bank in the nation. It was established in 1851 and as of June of 2024, it had grown to 531 employees at 25 locations. BayCoast Bank has a B+ health rating.
They Are Reprehensible
I have been banking with this company for over a decade. Our time together has come to an end. Within this timeframe, they have failed to properly secure my accounts. I had an old account hacked. Several "scares", attempted fraudulent charges. I have also traveled abroad and an employee "forgot" to unblock my account for overseas use. That was a terrifying 24 hrs, and no apology from the staff. They have very flexible security protocols inhouse. Your personal info is at risk. Your money is at risk. Over the phone they ask for info that is a breach of security. Once, after making a minor complaint about an interaction with a maintenance worker, the assistant manager asked not for my name, but for my account number to identify me! Not to mention too many fees for small services, each fee $3 a piece. They slowly drain your account to line their pockets. Do not use this bank. I no longer am.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 90196 |
| Year Established | 1851 |
| Employees | 531 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.43% |
| Return on Equity - YTD | 5.22% |
| Annual Interest Income | $68.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $2.96B$2.9B |
| Loans | Q2 2024vs Q2 2023 | $2.4B$2.38B |
| Deposits | Q2 2024vs Q2 2023 | $2.39B$2.42B |
| Equity Capital | Q2 2024vs Q2 2023 | $243.4MM$224.4MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $22.2MM$18.6MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $4.7MM$3.1MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
