Mascoma Bank
Lebanon, New Hampshire · $3.03B in assets · beside the 11 other New England banks between $3B and $10B (the state alone holds too few in the band to rank)
The filing
Mascoma Bank has the cleanest book of the twelve New England banks between $3B and $10B: noncurrent loans are 0.15%, first of twelve, and the allowance covers them 5.2 times, also first. New Hampshire alone has one bank in the band, so the cohort is regional.
Return on assets is 0.49%, eleventh of twelve, on an efficiency ratio of 83.9%, the highest in the cohort against a median of 64.8%. Five years earlier the bank earned 0.89% at 71.4%. Deposits grew 1.7%, eleventh, and loans 3.5%.
Equity is 8.5% of assets, tenth of twelve. A clean book earning half the cohort's return is a cost and margin question, not a credit one.
SBA 7(a), FY2008 to FY2026
Mascoma Bank is the 20th largest 7(a) lender into New Hampshire of 177, with $23M across 191 loans, 1.3% of everything approved in the state (TD Bank, National Association leads with $151M). 12 of its 16 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.
| County | Approved | Rank | Share | Trend |
|---|---|---|---|---|
| Cheshire, NH | $14M | 1st of 41 | 17.7% | -1.7 pts |
| Windsor, VT | $9M | 1st of 33 | 17.3% | thin |
| Washington, VT | $4M | 4th of 30 | 6.4% | quiet FY2018 |
| Grafton, NH | $4M | 9th of 56 | 3.4% | quiet FY2017 |
| Sullivan, NH | $4M | 3rd of 25 | 12.1% | quiet FY2017 |
| Windham, VT | $1M | 11th of 39 | 2.2% | quiet FY2017 |
| Chittenden, VT | $1M | 38th of 58 | 0.4% | -1.0 pts |
| Coos, NH | $648K | 13th of 31 | 1.3% | quiet FY2016 |
| Hillsborough, NH | $543K | 73rd of 117 | 0.1% | quiet FY2018 |
| Orange, VT | $512K | 9th of 22 | 2.1% | thin |
| Caledonia, VT | $450K | 8th of 24 | 1.6% | quiet FY2012 |
| Merrimack, NH | $361K | 46th of 62 | 0.2% | quiet FY2014 |
| Addison, VT | $292K | 18th of 26 | 0.9% | quiet FY2021 |
| Industry | Loans | Approved | Share of book | Share of sector | Rank |
|---|---|---|---|---|---|
| Manufacturing | 57 | $16M | 40.2% | 0.04% | 336th of 2,246 |
| Retail trade | 65 | $9M | 21.6% | 0.01% | 525th of 2,589 |
| Construction | 25 | $3M | 8.2% | 0.01% | 711th of 2,063 |
| Professional & technical services | 19 | $2M | 5.6% | 0.01% | 684th of 1,955 |
| Other services | 10 | $2M | 4.7% | 0.01% | 901st of 2,248 |
Commercial real estate against capital
| Mascoma Bank | Rank | Cohort median | |
|---|---|---|---|
| Total CRE against capital, the 300% screen | 273% | 7th of 12 | 271% |
| Construction against capital, the 100% screen | 45% | 10th of 12 | 40% |
| Construction and land development, share of loans | 5.2% | 7th of 12 | 5.2% |
| Non-owner-occupied nonfarm nonresidential, share of loans | 16.7% | 4th of 12 | 19.8% |
| Total CRE, the guidance definition, share of loans | 32.0% | 4th of 12 | 37.1% |
| CRE growth over 36 months, the third prong | +21.8% | 7th of 12 | +15.5% |
Among its peers
| Institution | Assets | ROA | Efficiency | NPA / loans | Net charge-offs | Allowance / loans | Loans / deposits | Equity / assets |
|---|---|---|---|---|---|---|---|---|
 Peoplesbank | $4.62B | 0.4% | 72.0% | 0.57% | 0.21% | 0.6% | 100.3% | 8.9% |
 Hingham Institution for Savings | $4.56B | 1.2% | 36.3% | 0.78% | 0.00% | 0.8% | 150.5% | 11.1% |
 Bankwell Bank | $3.47B | 1.6% | 44.2% | 0.54% | 0.01% | 1.0% | 97.4% | 10.2% |
 Northern Bank & Trust Co | $3.38B | 1.9% | 47.1% | 2.07% | 0.07% | 2.2% | 102.9% | 14.1% |
| TBTrunorth Bank | $3.32B | 1.0% | 60.9% | 0.58% | 0.12% | 0.5% | 92.7% | 14.7% |
 Union Savings Bank | $3.30B | 0.8% | 69.7% | 0.29% | -0.01% | 1.0% | 93.6% | 9.9% |
 Bristol County Savings Bank | $3.26B | 0.6% | 77.5% | 0.60% | 0.06% | 0.9% | 103.5% | 14.4% |
 First National Bank | $3.18B | 1.2% | 51.3% | 0.75% | 0.20% | 1.0% | 90.4% | 8.3% |
 Centreville Bank | $3.15B | 1.3% | 68.7% | 1.80% | 0.08% | 0.7% | 105.0% | 13.7% |
 Unibank for Savings | $3.11B | 1.0% | 58.1% | 0.62% | 0.01% | 1.4% | 83.6% | 7.6% |
 Banknewport | $3.07B | 0.6% | 69.7% | 0.95% | 0.02% | 1.0% | 101.9% | 9.9% |
 Mascoma Bank | $3.03B | 0.5% | 83.9% | 0.15% | 0.01% | 0.8% | 95.8% | 8.5% |
| Mascoma Bank | Cohort median | |||||
|---|---|---|---|---|---|---|
| 2021 | 2026 | Change | 2021 | 2026 | Change | |
| Loans | $1.90B | $2.51B | +32% | $1.77B | $2.51B | +42% |
| Deposits | $2.19B | $2.62B | +19% | $2.18B | $2.63B | +21% |
| NPA / loans | 0.10% | 0.15% | +0.04 pts | 0.58% | 0.61% | +0.03 pts |
| Efficiency | 71.4% | 83.9% | +12.5 pts | 64.4% | 64.8% | +0.4 pts |
| ROA | 0.89% | 0.49% | -0.39 pts | 1.17% | 1.02% | -0.16 pts |
This read was prepared for Mascoma Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.
The full pack on Mascoma Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.
Ask for the packPrepared 6 September 2026
Filing 30 June 2026
Cohort New England banks $3B to $10B
Institution www.mascoma.bank
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