Banks | Reading Co-operative Bank

Reading Co-operative Bank


Reading Co-operative Bank is an FDIC insured institution headquartered at 180 Haven St, Reading, MA 01867.
It was founded in 1886 and has approximately $1 billion in assets. Customers can open an account at one of its 9 branches.

Deposit Rates - April 25, 2024

INT CHECKING RATES APY MIN
Int Ckg
0.01% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 26620
Date Established 1886
Assets $ 907.16 million
Loans $ 695.68 million
Deposits $ 687.41 million
Capital $ 53.51 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 6.93 million
Interest-bearing balances $ 0.54 million
Total securities $ 152.66 million
Federal funds sold and reverse repurchase $ 0.05 million
Net loans and leases $ 695.68 million
Loan loss allowance $ 4.82 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 1.28 million
All other assets $ 29.32 million
     Total Assets $ 853.65 million

LIABILITIES
Total deposits $ 687.41 million
      Interest-bearing deposits $ 534.80 million
      Deposits held in domestic offices $ 687.41 million
      % insured (estimated) 71.48%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 4.50 million
Subordinated debt N.A.
All other liabilities $ 8.26 millionn
      Total Liabilities $ 853.65 million
      Shareholders’ Equity $ 53.51 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 37.32 million
Total Interest Expense $ 15.50 million
Net interest income $ 21.81 million
Provision for loan and lease losses $ 0.54 million
Total non interest income $ 1.86 million
Total non interest expense $ 22.16 million
Pre-tax Net Operating Income $ 4.83 million

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