Central Co-operative Bank in Somerville, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Central Co-operative Bank in Somerville, Massachusetts (MA)
  • Show street view No street view available for this location
Central Co-operative Bank routing number info

Central Co-operative Bank - Overview

  • General
  • FDIC Certificate #: 26646
    Status: Active
    Federal Reserve ID: 66172
    Bank Holding Company (Regulatory Top Holder): Central Bancorp, Inc. (RSSDID: 2746049, Location: Somerville, MA)
    Date Established: January 01, 1915
    WWW: http://www.centralbk.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 11 (Domestic: 11, Interstate: No)
    OTS Docket #: 6695
    FDIC's unique #: 35378
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: April 23, 1986
    Last Structure Change Effective Date: June 25, 2008
    Last Structure Change Process Date: June 25, 2008
    Last Data Update: June 25, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 399 Highland Avenue, Somerville, MA 2144
    County: Middlesex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Cambridge-Newton-Framingham, MA (#15764)
  • Financial Summary
  • Total assets: $520.7 mil
    Equity capital: $50.4 mil
    Deposits held in domestic offices: $335.1 mil
    Return on assets (ROA): 0.29% ($1.5 mil)
    Quarterly return on assets: 0.36% ($1.9 mil)
    Return on Equity (ROE): 2.84% ($1.4 mil)
    Quarterly return on equity: 3.60% ($1.8 mil)
    Net income: $1.5 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 0.41% ($2,135.0 mil)
    Quarterly Pretax return on assets: 0.51% ($2,655.7 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 109Total employees (full-time equivalent)
  • $520,726Total assets
  • $36,876Cash and due from depository institutions
  • $32,284Interest-bearing balances
  • $35,330Securities
  • $123Federal funds sold & reverse repurchase agreements
  • $417,093Net loans & leases
  • $4,083Loan loss allowance
  • $0Trading account assets
  • $2,647Bank premises and fixed assets
  • $320Other real estate owned
  • $2,232Goodwill and other intangibles
  • $520,726Life insurance assets
  • $26,105All other assets
  • $470,375Total liabilities and capital
  • $335,082Total liabilities
  • $290,995Total deposits
  • $335,082Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $122,495Trading liabilities
  • $0Other borrowed funds
  • $12,798Subordinated debt
  • $50,351All other liabilities
  • $50,351Total equity capital
  • $50,351Total bank equity capital
  • $0Perpetual preferred stock
  • $1,967Common stock
  • $24,845Surplus
  • $23,539Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $221Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $9,840Income earned, not collected on loans
  • $0Earning assets
  • $1,377Long-term assets (5+ years)
  • $484,830Average Assets, year-to-date
  • $229,377Average Assets, quarterly
  • $505,774Volatile liabilities
  • $516,668Insider loans
  • $318,350FHLB advances
  • $504,745Loans and leases held for sale
  • $7,575Unused loan commitments
  • $7,575Tier 1 (core) risk-based capital
  • $44,752Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $31,266Restructured Loans and leases
  • $7Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $22,938Total interest income
  • $6,513Total interest expense
  • $16,425Net interest income
  • $1,300Provision for loan and lease losses
  • $1,676Total noninterest income
  • $0Fiduciary activities
  • $960Service charges on deposit accounts
  • $0Trading account gains & fees
  • $716Additional noninterest income
  • $15,546Total noninterest expense
  • $9,405Salaries and employee benefits
  • $2,146Premises and equipment expense
  • $3,995Additional noninterest expense
  • $1,255Pre-tax net operating income
  • $813Securities gains (losses)
  • $600Applicable income taxes
  • $1,468Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,468Net income attributable to bank
  • $0Net charge-offs
  • $1,468Cash dividends
  • $964Sale, conversion, retirement of capital stock, net
  • $3,150Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.87%Yield on earning assets
  • 1.38%Cost of funding earning assets
  • 3.49%Net interest margin
  • 0.36%Noninterest income to earning assets
  • 3.30%Noninterest expense to earning assets
  • 0.18%Net operating income to assets
  • 0.29%Return on assets (ROA)
  • 0.41%Pretax return on assets
  • 2.84%Return on equity (ROE)
  • -3.25%Retained earnings to average equity (YTD only)
  • 0.23%Net charge-offs to loans
  • 134.85%Credit loss provision to net charge-offs
  • 2.65%Efficiency ratio
  • 85,885Assets per employee
  • 4.78%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 214.58%Loss allowance to loans
  • 0.97%Loss allowance to noncurrent loans
  • 41.49%Noncurrent assets plus other real estate owned to assets
  • 1.95%Noncurrent loans to loans
  • 2.34%Net loans and leases to deposits
  • 124.47%Net loans and leases to core deposits
  • 129.51%Equity capital to assets
  • 9.67%Core capital (leverage) ratio
  • 8.87%Tier 1 risk-based capital ratio
  • 14.06%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $505,774Average earning assets
  • $51,711Average equity
  • $471,263Average loans

List of branches

  • 11 Massachusetts Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    035378Central Co-Operative Bank399 Highland Avenue, Somerville, MA 2144January 01, 1915Full Service Brick and Mortar
    3259815Woburn Branch275 Main Street, Woburn, MA 1801October 25, 1975Full Service Brick and Mortar
    4259816Lexington Street Branch198 Lexington Street, Woburn, MA 1801October 25, 1975Full Service Brick and Mortar
    5259817Burlington Branch85 Wilmington Road, Burlington, MA 1803May 09, 1978Full Service Brick and Mortar
    6259818Chestnut Hill Branch1192 Boylston Street, Chestnut Hill, MA 2467December 31, 1979Full Service Brick and Mortar
    8259820Malden Branch137 Pleasant Street, Malden, MA 2148June 30, 1980Full Service Brick and Mortar
    11259823Arlington Branch175 Broadway, Arlington, MA 2474April 15, 1982Full Service Brick and Mortar
    1214937Melrose Branch846 Main Street, Melrose, MA 2176May 20, 1974Full Service Brick and Mortar
    15361189Internet Branch270 Mystic Avenue, Medford, MA 2155April 01, 2001Full Service Cyber
    16365917Woburn High School Branch88 Montvale Avenue, Woburn, MA 1801December 10, 2002Limited Service Mobile
    17451660Medford Branch270 Mystic Avenue, Medford, MA 2155June 01, 2006Full Service Brick and Mortar

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with Central Co-operative Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents