🏦Bank Scorer

This institution is no longer active

Operations ceased on February 10, 2006. CRA examination history below reflects the period it was active.

HERITAGE CO-OPERATIVE BANK

SALEM, MA · Supervised by FDIC

Est. 1888FDIC #26,514RSSD: FDIC-26514
Outstanding Same

Current rating · Exam: January 2004

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At a Glance

Community Lending (CRA)

Outstanding

Exceeds federal requirements for lending in low- and moderate-income communities

Financial Health

Needs Attention

ROA -0.16%

Is this bank safe?

HERITAGE CO-OPERATIVE BANK earned an Outstanding CRA rating (2004), shows financial metrics that merit closer review (ROA -0.16%). Consumers may want to review the details below before banking here.

Institution Profile

FDIC BankFind

Address

71 Washington Street, SALEM, MA

County

Essex County

Established

January 1, 1888

Total Assets

$271M(latest call report)

Community Reinvestment Rating

CRA / FFIEC

Federal regulators examine banks to ensure they lend and invest in the communities they serve, especially low- and moderate-income areas.

Overall Rating

Outstanding

Exceeds federal requirements for lending in low- and moderate-income communities

Exam Date

January 1, 2004

Exam Type

Small Bank

Regulator

FDIC
What is a CRA rating? →
⚠️This exam is 22 years old — CRA data may not reflect current lending practices. Regulators typically re-examine banks every 2–4 years.
Estimated next exam:Overdue(based on asset size)

Financial Snapshot

As of Q4 2005Call Report / FDIC

Total Assets

$271M

Total Deposits

$230M

Net Loans

$192M

Net Income

$-417K

ROA

-0.16%

Below avg for Small banks. Peer avg: 0.44%

ROE

-1.54%

Risk-Based Capital

16.32%

Below avg for Small banks. Regulatory min: 8%

Total Assets — Last 8 Quarters

Total AssetsROA

Peer Comparison

Small banks

Compared to the peer-bank Small peer group (same asset tier).

ROA-0.16%Peer avg: 0.44%▼ Below avg
Risk-Based Capital16.32%Peer avg: 23.03%▼ Below avg

Unlock peer list → See which specific banks are in this peer group.

Rating History

CRA / FFIEC
Exam DateRatingExam Type
Jan 2004OutstandingSmall Bank
Jul 1997OutstandingSmall Bank
Feb 1995SatisfactoryNot Reported

1 previous rating locked — back to 1992

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Rating Over Time

🔒 Locked
OutstandingSatisfactoryNeeds to ImproveSubst. Noncompliance

Exam dates and details are paywalled

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