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This institution is no longer active

Operations ceased on January 1, 2002. CRA examination history below reflects the period it was active.

ANDOVER BANK

ANDOVER, MA · Supervised by FDIC

Est. 1834FDIC #23,284RSSD: FDIC-23284
Part ofBANKNORTH GROUP INC→ View all charters
Outstanding Up

Current rating · Exam: March 2000

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At a Glance

Community Lending (CRA)

Outstanding

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

Financial Health

Adequate

ROA 0.23%

Institution Profile

FDIC BankFind

Address

61 Main Street, ANDOVER, MA

County

Essex County

Established

April 2, 1834

Total Assets

$1.8B(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

March 1, 2000

Exam Type

Large Bank

Regulator

FDIC
What is a CRA rating? →
⚠️This exam is 26 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 2001Call Report / FDIC

Total Assets

$1.8B

Total Deposits

$1.1B

Net Loans

$1.1B

Net Income

$4M

ROA

0.23%

ROE

2.43%

Risk-Based Capital

11.88%

Regulatory minimum: 8%

Total Assets — Last 8 Quarters

Total AssetsROA

Peer Comparison

Community banks

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

Mortgage Denial Rate19.23%Peer avg: 9.91%▼ Below avg

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Mortgage Lending

CFPB HMDA
YearApplicationsOrig. RateDenial Rate
202426063.08%19.23%
202332865.55%21.65%
202249566.06%19.19%
202175166.18%17.18%
202081159.93%16.52%
201957970.12%11.40%
201840863.73%22.55%

2024 national avg denial rate: 23.75% · Community bank avg: 9.91% · above-average shown in red

Rating History

CRA / FFIEC

Rating Trend

↑ Improving

Based on last 3 exams

3 previous ratings locked — dating back to 1991

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Rating Over Time

🔒 Locked
OutstandingSatisfactoryNeeds to ImproveSubst. Noncompliance

Exam dates and details are paywalled

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