South Shore Savings Bank

1530 Main Street
South Weymouth, MA 02190
(800) 660-7800
www.sssb.com

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South Shore Savings Bank is headquartered in South Weymouth and is the 30^th largest bank in the state of Massachusetts. It is also the 673^rd largest bank in the nation. It was established in 1833 and as of December of 2012, it had grown to 166 employees at 13 locations. South Shore Savings Bank's savings rates are 2X the national average, and it has a 4-star health rating.

Personal & Business Checking Bonuses at South Shore Savings Bank - MA Only - 8/15/2012

With interest rates so low, bank bonuses are looking more appealing than special rates on CDs or savings accounts. I'm glad we continue to see several banks with new-account cash bonuses. The latest o ...

$200 Bonus For A Reward Checking Account At South Shore Savings Bank - MA Only (Forum) - 10/12/2010

This $200 bonus is still being offered by South Shore Savings Bank. I last reported on this special in June. It's rare to see reward checking accounts with a new-account bonus. Unfortunately, the reward checking yield has recently fallen. It's now 3.2

$200 Reward Checking Account Bonus at South Shore Savings Bank in MA - Local Only - 6/13/2010

It's rare to see an account opening bonus for reward checking accounts. A high yield is usually enough of an incentive. It's also rare to see a $200 bonus. This is one case that combines both. South S ...

3.50% 13-Month CD at South Shore Savings Bank in Massachusetts - 1/21/2009

South Shore Savings Bank has an attractive rate for its 13-month CD special. The APY is 3.50%, and the minimum deposit is $1,000. It's available as both a regular and an IRA certificate of deposit. This special is listed in the bank's rate table as of...

2009

1/21 - High-Yield Reward Checking Account in South Shore Savings Bank in MA

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See Rates for: Checking | Savings | Money Market | CD | IRA

South Shore Savings Bank Checking Account Rates

Apy	Min	Max	Product
1.75%	-	$25k	Rewards Checking
0.05%	-	-	Relationship Checking

South Shore Savings Bank Savings Account Rates

Apy	Min	Max	Product
1.25%	-	$50k	Rewards Savings
0.20%	$25k	-	Premium Savings
0.05%	-	-	Regular Savings (Passbook/Statement)
0.05%	$2k	-	Business Savings

South Shore Savings Bank Money Market Rates

Apy	Min	Max	Product
0.20%	$100k	-	High Yield Money Market
0.20%	$100k	-	Business Money Market
0.20%	$50k	-	Business Platinum Money Market

South Shore Savings Bank CD Rates

Apy	Min	Max	Product
1.10%	$1k	-	60 Month CD
1.00%	$1k	-	48 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 Savings Bank IRA Rates

Apy	Min	Max	Product
1.10%	$1k	-	60 Month IRA
1.10%	$1k	-	60 Month Roth IRA
1.00%	$1k	-	48 Month IRA
1.00%	$1k	-	48 Month Roth IRA
0.75%	$1k	-	36 Month IRA
0.75%	$1k	-	36 Month Roth IRA
0.70%	$1k	-	24 Month IRA
0.70%	$1k	-	24 Month Roth IRA
0.60%	$1k	-	18 Month IRA
0.60%	$1k	-	18 Month Roth IRA
0.50%	$1k	-	15 Month IRA
0.50%	$1k	-	15 Month Roth IRA
0.40%	$1k	-	12 Month IRA
0.40%	$1k	-	12 Month Roth IRA
0.25%	$1k	-	6 Month IRA
0.25%	$1k	-	9 Month IRA
0.25%	$1k	-	6 Month Roth IRA
0.25%	$1k	-	9 Month Roth IRA
0.20%	$1k	-	3 Month IRA
0.20%	$1k	-	3 Month Roth IRA

Rates updated: 5/22/2013

Data for Q4 2012

Institution Statistics

South Shore Savings Bank
FDIC Certificate #	90303
BankRate Report	View
Year Established	1833
Employees	166
Primary Regulator	FED
Assets and Liabilities
Assets	$978.77 million
Loans	$676.79 million
Deposits	$682.75 million
Equity Capital	$104.61 million
Loan Loss Allowance	$6.36 million
Unbacked Noncurrent Loans	$16.42 million
Real Estate Owned	$4.50 million
Historic Data - December 2011
Assets	$950.39 million
Equity Capital	$99.50 million
Loan Loss Allowance	$5.52 million
Unbacked Noncurrent Loans	$17.40 million
Real Estate Owned	$4.92 million
Profit Margin - Quarterly
Net Interest Margin	3.03%
Return on Assets	0.53%
Return on Equity	5.02%
Interest Income	$36.97 million

Institution Health

Overall Score:

4 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2012 South Shore Savings Bank had $20.91 million in non-current loans and owned real-estate with $110.97 million in equity and loan loss allowances on hand to cover it. This gives South Shore Savings Bank a Texas Ratio of 18.85% which is 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 Savings Bank held steady from 21.25% as of December 31, 2011 to 18.85% as of December 31, 2012, resulting in a positive change of 11.30%.This indicates that the balance sheet and financial strength for South Shore Savings Bank has held steady in recent periods.
Deposit Growth
In the past year, South Shore Savings Bank has increased its total deposits by $21.18 million, resulting in 3.2% 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 Savings Bank has shown is above average.
Capitalization
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 Savings Bank has $978.76 million in assets with $110.97 million in equity, resulting in a capitalization level of 11.34%, which is above average.

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	frank10b - December 30, 2012 hard or soft pull?