Safe and Sound

ST. MARY'S BANK

MANCHESTER, NH
4
Star Rating
ST. MARY'S BANK is an NCUA-insured credit union founded in 1909 and currently headquartered in MANCHESTER, NH. As of December 31, 2017, the credit union had assets of $989.0 million.

Members have $853.1 million on deposit tended by 204 full-time employees. With that footprint, the credit union currently holds loans and leases worth $853.1 million. Its 101,501 members currently have $857.1 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, ST. MARY'S BANK exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three important criteria Bankrate used to score U.S. credit unions.

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THE INSTITUTION'S SCORE

Capital Score

Capital is a crucial measurement of a credit union's financial strength. It acts as a buffer against losses and provides protection for members when a credit union is struggling financially. When it comes to safety and soundness, the more capital, the better.

ST. MARY'S BANK came in below the national average of 15.65 on our test to measure capital adequacy, scoring 6 out of a possible 30 points.

ST. MARY'S BANK appears to be less well prepared for financial trouble than its peers in this area, with a capitalization ratio of 6.00 percent in our test, worse than the average for all credit unions.

Asset Quality Score

Bankrate uses this test to estimate the impact of troubled assets, such as unpaid mortgages, on the credit union's reserves set aside to cover loan losses, as well as overall capitalization.

A credit union with large numbers of these types of assets may eventually be required to use capital to cover losses, cutting down on its equity cushion. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, decreasing earnings and elevating the chances of a future failure.

ST. MARY'S BANK scored 40 out of a possible 40 points on Bankrate's test of asset quality, beating out the national average of 38.09.

The credit union's ratio of problem assets was 0.00 percent in our test, beneath the national average and potentially indicative of greater financial strength than other credit unions.

Earnings score

A credit union's earnings performance has an effect on its safety and soundness. A credit union can retain its earnings, expanding its capital cushion, or put them to work addressing problematic loans, potentially making the credit union better prepared to withstand financial shocks. Conversely, losses reduce a credit union's ability to do those things.

ST. MARY'S BANK did above-average on Bankrate's earnings test, achieving a score of 14 out of a possible 30.

One sign that ST. MARY'S BANK is running ahead of its peers in this area was its earnings ratio of 0.00 percent in our test, higher than the average for all credit unions.

WHAT IS SAFE & SOUND?

Bankrate.com's Safe & Sound Ratings provide a star rating system to evaluate the current financial status of financial institutions. The information gathered about banks, credit unions and thrifts is updated as set forth in the Terms of Use of Safe & Sound Ratings and Reports. The Safe & Sound Ratings information is grouped by categories of banks, thrifts and credit unions.

Scoring methodology

Bankrate.com evaluates the financial condition of institutions and assigns a one- to five-star rating for each with five stars representing the highest rating. Institutions with satisfactory performance will generally receive a rating of three or more stars. The majority of institutions fall into the three- to four-star range. An institution with an "NR" rating may be too new to rate or may have limited the publicly available information in their regulatory filings. The "NR" is not an indication of financial strength or weakness. The Safe & Sound rating is believed to be reliable, but the information is not guaranteed. In addition, events since the information was collected may have altered the institution's financial condition.