TruNorth Bank
Peabody, Massachusetts, Essex County
$3.3B in total assets, the 396th largest of 4,309 US banks and 15th of 95 headquartered in Massachusetts.
- FDIC certificate
- 26484
- Established
- 1888
- Owned by
- Hometown Financial Group Mhc
- Primary regulator
- FED
At a glance
Compared with 46 banks headquartered in Massachusetts with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $3.3B | 78% | $1.9B | |
| Loans | $2.5B | 76% | $1.5B | |
| Deposits | $2.7B | 80% | $1.6B | |
| Return on assets | 1.23% | 89% | 0.72% | |
| Net interest margin | 4.45% | 98% | 3.02% | |
| Efficiency ratio | 56.5% | 11% | 69.8% | |
| Equity to assets | 14.72% | 91% | 10.84% | |
| Loans to deposits | 93% | 31% | 100% |
Growth
Total assets grew 15.9% a year over the last 5 years and 15.8% a year over 10 years, including 3 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Nov 2025 | Colonial Federal Savings Bank Quincy, MA | $359M |
| Sep 2024 | Abington Bank Abington, MA, an affiliate under the same holding company | $1.3B |
| Oct 2019 | Beverly Bank Beverly, MA | $502M |
| Nov 2015 | Merrimac Savings Bank Merrimac, MA | $75M |
| Sep 2014 | Saugusbank, a Co-operative bank Saugus, MA | $206M |
| May 1992 | Newburyport Co-operative Bank Newburyport, MA | $22M |
Where they operate
0 branches in 0 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Essex County, MA | $1.4B | 4.4% | 7 of 32 |
| Norfolk County, MA | $1.0B | 2.0% | 11 of 35 |
| Plymouth County, MA | $197M | 1.1% | 13 of 17 |
| Rockingham County, NH | $68M | 0.5% | 18 of 25 |
| Middlesex County, MA | $37M | 0.0% | 38 of 42 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net loss of 12 branches since 2016 (12 to 0, −100.0%). 2 opened, 20 acquired, 34 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 12 | |||
| 2019 | Acquired Beverly BankOpened Beverly, closed Beverly | 7 | 1 | +6 | 18 |
| 2020 | Opened ReadingClosed Saugus | 1 | 1 | 0 | 18 |
| 2021 | Closed Beverly and Peabody | 0 | 2 | −2 | 16 |
| 2024 | Acquired Abington BankClosed Beverly | 10 | 1 | +9 | 25 |
| 2025 | Acquired Colonial Federal Savings Bank | 4 | 0 | +4 | 29 |
| 2026 through Q2 | Closed 29 in 2 states | 0 | 29 | −29 | 0 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| 1-4 family residential | 47% | 46% | |
| Commercial real estate | 27% | 26% | |
| Multifamily | 14% | 10% | |
| Construction and land | 6% | 7% | |
| Business (C&I) | 6% | 8% | |
| Consumer | 0% | 2% | |
| Other | 0% | 1% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 46% | 53% | |
| Time deposits | 32% | 31% | |
| Noninterest-bearing | 22% | 16% |
Brokered deposits are 0.0% of deposits (peers 3.9%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.57% | 0.59% |
| Net charge-offs, annualized | 0.12% | 0.01% |
| Reserves to loans | 0.54% | 0.89% |
| Leverage ratio | 11.46% | 11.15% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Massachusetts
Largest competitors in Essex County, MA
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/trunorth-bank-peabody-ma