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253 Main Street #257
Southbridge, MA 01550

Southbridge Savings Bank is headquartered in Southbridge and is the 72nd largest bank in the state of Massachusetts. It is also the 1,529th largest bank in the nation. It was established in 1848 and as of March of 2014, it had grown to 111 employees at 9 locations. Southbridge Savings Bank's savings rates are 5X the national average, and it has a B+ health rating.

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Reviews (1)

Kasasa Cash RCA At Southbridge Savings Bank

I opened a "Kasasa Cash with Saver" account here in the summer of 2012. (It's actually a pair of accounts: checking and savings.) My previous reward checking rate at another bank had fallen below 2%, and Southbridge Savings Bank was advertising a rate of 3% at the time. Opening the account via the bank's web site was fairly routine. I did have to print and mail a couple of signature forms. I was a little disappointed that I could only initially fund $20k ($10k checking, $10k savings) even though the reward limit on the checking account is $25k. This made it impossible to transfer over all of my existing RCA funds in one step, but was not a dealbreaker as I was able to deposit the remaining funds in person a few days later. I could have also sent the additional deposit by mail or ACH transfer once the account was set up.

One nice benefit of this account is that for each month that the checking account qualifies for the reward interest rate (currently 2.5%) the savings account also qualifies for a lesser reward rate, but still quite competitive compared to other savings accounts (currently 1%). This is beneficial if you've maxed out the RCA but still have additional cash you want to save.

A few annoyances to be aware of, though none of them are dealbreakers for me:
SSB does not offer an ACH transfer feature for personal accounts. You'll need an external ACH-capable account to push/pull from. The checking account interest is automatically swept into the savings account at the end of every month. I would prefer it to remain in the checking account, but was informed there is no way to disable this. So I have to manually transfer it back each month. The online banking system can only export transactions in QuickBooks (IIF) and CSV format (no OFX, QFX, or QIF). So it's more difficult for me to import transactions into my personal finance software. However, the site is compatible with


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 Southbridge Savings Bank had $7.59 million in non-current loans and owned real-estate with $40.39 million in equity and loan loss allowances on hand to cover it. This gives Southbridge Savings Bank a Texas Ratio of 18.80% 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 Southbridge Savings Bank decreased slightly from 21.96% as of March 31, 2013 to 18.80% as of March 31, 2014, resulting in a positive change of 14.42%.This indicates that the balance sheet and financial strength for Southbridge Savings Bank has improved slightly in recent periods.

Deposit Growth


In the past year, Southbridge Savings Bank has increased its total deposits by $18.25 million, resulting in 5.5% 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 Southbridge Savings Bank has shown is excellent.



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. Southbridge Savings Bank has $440.54 million in assets with $40.39 million in equity, resulting in a capitalization level of 9.17%, which is average.

Institution Statistics

FDIC Certificate #23524
Year Established1848
Primary RegulatorFED
Assets and Liabilities
Assets$440.54 million
Loans$358.69 million
Deposits$350.34 million
Equity Capital$36.79 million
Loan Loss Allowance$3.61 million
Unbacked Noncurrent Loans$6.55 million
Real Estate Owned$1.04 million
Historic Data - March 2013
Assets$427.75 million
Equity Capital$44.65 million
Loan Loss Allowance$3.72 million
Unbacked Noncurrent Loans$6.55 million
Real Estate Owned$2.13 million
Profit Margin - Quarterly
Net Interest Margin3.68%
Return on Assets0.28%
Return on Equity2.95%
Interest Income$4.35 million

Always verify rates and promotions with the bank or credit union. We are not Southbridge Savings Bank, we are a rate comparison website and can not provide official rates or promotions.

Southbridge Savings Bank Savings Account Rates

2.50%-$500Moola Savings
0.75%-$50kKasasa Saver- Qualifying
0.25%$50k-Key Select Savings
0.05%--Key Savings
0.05%--Passbook Savings Plan
0.05%--Kasasa Saver- Non Qualifying

Southbridge Savings Bank Money Market Rates

0.25%$5k-Personal Money Market

Southbridge Savings Bank Checking Account Rates

2.00%-$25kKasasa Cash Checking - Qualifying
0.05%$500-Key Select Checking
0.05%--Kasasa Cash Checking - Non Qualifying

Southbridge Savings Bank CD Rates

1.75%$500-57 Month CD
1.50%$500-47 Month CD
1.25%$500-38 Month CD
1.00%$500-22 Month CD
0.75%$500-18 Month CD
0.75%$500-24 Month CD
0.75%$500-30 Month CD
0.75%$500-36 Month CD
0.75%$500-48 Month CD
0.75%$500-60 Month CD
0.50%$500-8 Month CD
0.25%$500-6 Month CD
0.25%$500-12 Month CD

Southbridge Savings Bank IRA Rates

1.75%--57 Month IRA
1.50%--47 Month IRA
1.25%--38 Month IRA
1.00%--22 Month IRA
0.75%--18 Month IRA
0.75%--24 Month IRA
0.75%--30 Month IRA
0.75%--36 Month IRA
0.75%--48 Month IRA
0.75%--60 Month IRA
0.50%--8 Month IRA
0.25%--6 Month IRA
0.25%--12 Month IRA

Southbridge Savings Bank Locations
Holden Branch1073 Main StreetHolden, MA 1520
Charlton Branch2 Center Depot RoadCharlton, MA 1507
Sturbridge Branch200 Charlton RoadSturbridge, MA 1566
Southbridge Savings Bank253 Main Street # 257Southbridge, MA 1550
Southbridge Plaza Branch495 East Main StreetSouthbridge, MA 1550
North Oxford Branch64 Leicester StreetNorth Oxford, MA 1537
West Boylston Street Branch70 West Boylston StreetWorcester, MA 1606
Spencer Branch70 West Main StreetSpencer, MA 1562
Webster Branch86 Worcester RoadWebster, MA 1570