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1530 Main Street
South Weymouth, MA 02190

South Shore Bank is headquartered in South Weymouth and is the 35th largest bank in the state of Massachusetts. It is also the 672nd largest bank in the nation. It was established in 1833 and as of March of 2014, it had grown to 181 employees at 13 locations. South Shore Bank's savings rates are 2X the national average, and it has a B+ health rating.

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Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 South Shore Bank had $16.38 million in non-current loans and owned real-estate with $112.16 million in equity and loan loss allowances on hand to cover it. This gives South Shore Bank a Texas Ratio of 14.60% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for South Shore Bank decreased slightly from 19.33% as of March 31, 2013 to 14.60% as of March 31, 2014, resulting in a positive change of 24.45%.This indicates that the balance sheet and financial strength for South Shore Bank has improved slightly in recent periods.

Deposit Growth


In the past year, South Shore Bank has decreased its total deposits by -$16.21 million, resulting in -2.33% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth South Shore Bank has shown is average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. South Shore Bank has $999.19 million in assets with $112.16 million in equity, resulting in a capitalization level of 11.23%, which is excellent.

Institution Statistics

FDIC Certificate #90303
Year Established1833
Primary RegulatorFED
Assets and Liabilities
Assets$999.19 million
Loans$707.00 million
Deposits$679.33 million
Equity Capital$105.30 million
Loan Loss Allowance$6.87 million
Unbacked Noncurrent Loans$12.40 million
Real Estate Owned$3.98 million
Historic Data - March 2013
Assets$989.85 million
Equity Capital$104.71 million
Loan Loss Allowance$6.23 million
Unbacked Noncurrent Loans$12.40 million
Real Estate Owned$4.46 million
Profit Margin - Quarterly
Net Interest Margin2.91%
Return on Assets0.06%
Return on Equity0.57%
Interest Income$8.59 million

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South Shore Bank Savings Account Rates

1.25%-$50kRewards Savings - Qualifying
0.20%$25k-Premium Savings
0.05%--Regular Savings (Passbook/Statement)
0.05%$2k-Business Savings
0.05%-$50kRewards Savings - Non Qualifying

South Shore Bank Money Market Rates

0.20%$100k-High Yield Money Market
0.20%$100k-Business Money Market
0.20%$100k-Business Platinum Money Market

South Shore Bank Checking Account Rates

1.75%-$25kRewards Checking - Qualifying
0.05%--Rewards Checking - Non Qualifying
0.05%--Relationship Checking

South Shore Bank CD Rates

1.50%$1k-37 Month CD
1.10%$1k-60 Month CD
1.00%$1k-48 Month CD
1.00%$1k-19 Month CD
0.75%$1k-36 Month CD
0.70%$1k-24 Month CD
0.60%$1k-18 Month CD
0.50%$1k-15 Month CD
0.40%$1k-12 Month CD
0.25%$1k-6 Month CD
0.25%$1k-9 Month CD
0.20%$1k-3 Month CD

South Shore Bank IRA Rates

1.50%$1k-37 Month IRA
1.10%$1k-60 Month IRA
1.00%$1k-48 Month IRA
1.00%$1k-19 Month IRA
0.75%$1k-36 Month IRA
0.70%$1k-24 Month IRA
0.60%$1k-18 Month IRA
0.50%$1k-15 Month IRA
0.40%$1k-12 Month IRA
0.25%$1k-6 Month IRA
0.25%$1k-9 Month IRA
0.20%$1k-3 Month IRA

South Shore Bank has 13 locations. Click to view all South Shore Bank locations.