South Shore Bank

Overview / Commentary

www.southshorebank.com

781-682-3715

1530 Main Street
South Weymouth, MA 02190

South Shore Bank is headquartered in South Weymouth and is the 24^th largest bank in the state of Massachusetts. It is also the 515^th largest bank in the nation. It was established in 1833 and as of June of 2022, it had grown to 210 employees at 12 locations. South Shore Bank's money market rates are 3X the national average, and it has an A health rating.

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2014
2013
2012
Earlier

11/8 - South Shore Bank CD Rates - MA Only

7/29 - New Account Bonuses Up To $125 For Personal Or $250 For Business

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

10/12/10 - $200 Bonus For A Reward Checking Account At South Shore Savings Bank - MA Only
6/13/10 - $200 Reward Checking Account Bonus at South Shore Savings Bank in MA - Local Only
7/11/09 - High-Yield Reward Checking Account in South Shore Savings Bank in MA
1/21/09 - 3.50% 13-Month CD at South Shore Savings Bank in Massachusetts

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Health

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	90303
Year Established	1833
Employees	210
Primary Regulator	FED

Profit Margin
Return on Assets - YTD	0.76%
Return on Equity - YTD	8.8%
Annual Interest Income	$30.3MM

Assets and Liabilities
Assets	Q2 2022vs Q2 2021	$2.11B$2.00B
Loans	Q2 2022vs Q2 2021	$1.35B$1.31B
Deposits	Q2 2022vs Q2 2021	$1.86B$1.71B
Equity Capital	Q2 2022vs Q2 2021	$170.7MM$184.3MM
Loan Loss Allowance	Q2 2022vs Q2 2021	$20.1MM$20.0MM
Unbacked Noncurrent Loans	Q2 2022vs Q2 2021	$5.3MM$4.8MM
Real Estate Owned	Q2 2022vs Q2 2021	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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Always verify rates and promotions with the bank or credit union. We are not South Shore Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

South Shore Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
2.50%	-	-	Rewards Savings
1.50%^*	$25k^*	-	Premium Savings
OTHER TIERS: 0.50% → Up to $25k
0.05%	$10	-	IRA Savings
0.01%	$2k	-	Business Savings
0.01%	-	-	Statement Savings

South Shore Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
1.50%^*	$25k^*	-	High Yield Money Market
OTHER TIERS: 0.01% → Up to $2.5k \| 0.50% → $2.5k - $25k
1.50%^*	$5k^*	-	Business Money Market
OTHER TIERS: 0.10% → $1k - $5k

South Shore Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
2.50%	-	$25k	Rewards Checking

South Shore Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
3.50%	$1k	-	19 Month CD
3.50%	$1k	-	16 Month CD
3.00%	$1k	-	12 Month CD
3.00%	$1k	-	14 Month Rewards CD w/ Relationship
2.75%	$1k	-	6 Month CD
2.00%	$1k	-	36 Month CD
2.00%	$1k	-	48 Month CD
2.00%	$1k	-	60 Month CD
2.00%	$1k	-	22 Month CD
0.50%	$1k	-	14 Month Rewards CD w/o Relationship

South Shore Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
3.50%	$1k	-	19 Month IRA
3.50%	$1k	-	16 Month IRA
3.00%	$1k	-	12 Month IRA
2.75%	$1k	-	6 Month IRA
2.00%	$1k	-	36 Month IRA
2.00%	$1k	-	48 Month IRA
2.00%	$1k	-	60 Month IRA
2.00%	$1k	-	22 Month IRA

Locations

Availability

Boston Area

Boston Area bank & credit union details

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