Salem Co-operative Bank


Salem Co-operative Bank is an FDIC insured institution headquartered at 3 S Broadway, Salem, NH 03079.
It was founded in 1922 and has approximately $1 billion in assets. Customers can open an account at one of its 2 branches.

Deposit Rates - April 24, 2024

SAVINGS RATES APY MIN
Savings
0.10% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.35% $10,000 Compare
6 Mo CD
0.35% $100,000 Compare
12 Mo CD
0.50% $10,000 Compare
12 Mo CD
0.50% $100,000 Compare
18 Mo CD
0.75% $10,000 Compare
18 Mo CD
0.75% $100,000 Compare
24 Mo CD
0.75% $10,000 Compare
24 Mo CD
0.75% $100,000 Compare
30 Mo CD
1.00% $10,000 Compare
30 Mo CD
1.00% $100,000 Compare
36 Mo CD
1.00% $10,000 Compare
36 Mo CD
1.00% $100,000 Compare
48 Mo CD
1.25% $10,000 Compare
48 Mo CD
1.25% $100,000 Compare
60 Mo CD
1.25% $10,000 Compare
60 Mo CD
1.25% $100,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.10% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 27824
Date Established 1922
Assets $ 540.89 million
Loans $ 450.37 million
Deposits $ 387.03 million
Capital $ 65.16 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 5.84 million
Interest-bearing balances $ 3.53 million
Total securities $ 51.02 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 450.37 million
Loan loss allowance $ 3.00 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 24.58 million
     Total Assets $ 475.73 million

LIABILITIES
Total deposits $ 387.03 million
      Interest-bearing deposits $ 335.90 million
      Deposits held in domestic offices $ 387.03 million
      % insured (estimated) 86.22%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 23.48 million
Subordinated debt N.A.
All other liabilities $ 7.09 millionn
      Total Liabilities $ 475.73 million
      Shareholders’ Equity $ 65.16 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 18.94 million
Total Interest Expense $ 10.00 million
Net interest income $ 8.95 million
Provision for loan and lease losses N.A.
Total non interest income $ 0.80 million
Total non interest expense $ 11.53 million
Pre-tax Net Operating Income $ 1.13 million

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Salem Co-operative Bank Locations