This institution is no longer active

Operations ceased on May 1, 2025. CRA examination history below reflects the period it was active.

WAKEFIELD CO-OPERATIVE BANK

WAKEFIELD, MA · Supervised by FDIC

Est. 1887FDIC #26,516RSSD: FDIC-26516

Satisfactory Same

Current rating · Exam: January 2022

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At a Glance

Community Lending (CRA)

Satisfactory

Meets federal requirements for community lending

Financial Health

Needs Attention

ROA -0.34%

Is this bank safe?

WAKEFIELD CO-OPERATIVE BANK holds a Satisfactory CRA rating (2022), shows financial metrics that merit closer review (ROA -0.34%). Consumers may want to review the details below before banking here.

Institution Profile

FDIC BankFind

Address

342 Main St, WAKEFIELD, MA

County

Middlesex County

Established

January 1, 1887

Total Assets

$306M(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

Satisfactory

Meets federal requirements for community lending

Exam Date

January 1, 2022

Exam Type

Small Bank

Regulator

FDIC

What is a CRA rating? →

Estimated next exam:Jan 2027(based on asset size)

Financial Snapshot

As of Q1 2025Call Report / FDIC

Total Assets

$306M

Total Deposits

$261M

Net Loans

$251M

Net Income

$-261K

ROA

-0.34%

Below avg for Small banks. Peer avg: 0.44%

ROE

-5.75%

Risk-Based Capital

12.95%

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-0.34%Peer avg: 0.44%▼ Below avg

Risk-Based Capital12.95%Peer avg: 23.03%▼ Below avg

Mortgage Denial Rate9.68%Peer avg: 6.90%▲ More than avg

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Mortgage Lending

CFPB HMDA

Year	Applications	Orig. Rate	Denial Rate
2024	31	70.97%	9.68%
2023	90	62.22%	23.33%
2022	197	77.16%	7.11%
2021	239	78.24%	9.21%
2020	284	73.94%	6.69%
2019	201	82.09%	6.97%
2018	134	76.12%	10.45%

Denial rate = denials ÷ total applications. 2024 national avg: 23.75% · Small bank avg: 6.90% · above-average shown in red

Rating History

CRA / FFIEC

Exam Date	Rating	Exam Type
Jan 2022	Satisfactory	Small Bank
Jan 2016	Satisfactory	Small Bank
Oct 2009	Satisfactory	Small Bank

5 previous ratings 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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