South Shore Savings Bank in South Weymouth, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • South Shore Savings Bank in South Weymouth, Massachusetts (MA)
  • Show street view No street view available for this location
South Shore Savings Bank routing number info

South Shore Savings Bank - Overview

  • General
  • FDIC Certificate #: 90303
    Status: Active
    Federal Reserve ID: 772008
    Bank Holding Company (Regulatory Top Holder): South Shore Bancorp Mhc (RSSDID: 3212943, Location: South Weymouth, MA)
    Date Established: Febuary 01, 1833
    WWW: http://www.sssb.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 13 (Domestic: 13, Interstate: No)
    OTS Docket #: 8563
    FDIC's unique #: 17892
    Numeric code: 13
    Regulator: FED
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: November 19, 1985
    Last Structure Change Effective Date: July 27, 2011
    Last Structure Change Process Date: August 26, 2011
    Last Data Update: August 26, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1530 Main St, South Weymouth, MA 2190
    County: Norfolk
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: South Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Boston-Quincy, MA (#14484)
  • History of Changes
  • Name Change
    Change in Location
    Change in Primary Regulatory Agency
    Change in Supervisory Agency
  • Financial Summary
  • Total assets: $950.4 mil
    Equity capital: $99.5 mil
    Deposits held in domestic offices: $661.6 mil
    Return on assets (ROA): 0.56% ($5.3 mil)
    Quarterly return on assets: 0.78% ($7.4 mil)
    Return on Equity (ROE): 5.64% ($5.6 mil)
    Quarterly return on equity: 7.59% ($7.6 mil)
    Net income: $5.4 mil
    Quarterly Net income: $1.9 mil
    Pretax return on assets: 0.76% ($7,222.9 mil)
    Quarterly Pretax return on assets: 1.03% ($9,789.0 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 182Total employees (full-time equivalent)
  • $950,388Total assets
  • $16,372Cash and due from depository institutions
  • $3,806Interest-bearing balances
  • $219,131Securities
  • $8,449Federal funds sold & reverse repurchase agreements
  • $650,679Net loans & leases
  • $5,515Loan loss allowance
  • $0Trading account assets
  • $9,820Bank premises and fixed assets
  • $4,917Other real estate owned
  • $4,162Goodwill and other intangibles
  • $950,388Life insurance assets
  • $36,858All other assets
  • $850,888Total liabilities and capital
  • $661,577Total liabilities
  • $570,957Total deposits
  • $661,577Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 12254.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $170,000Trading liabilities
  • $0Other borrowed funds
  • $7,057Subordinated debt
  • $99,500All other liabilities
  • $99,500Total equity capital
  • $99,500Total bank equity capital
  • $0Perpetual preferred stock
  • $1Common stock
  • $9Surplus
  • $99,490Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $6,864Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $17,429Income earned, not collected on loans
  • $31Earning assets
  • $3,820Long-term assets (5+ years)
  • $882,065Average Assets, year-to-date
  • $378,111Average Assets, quarterly
  • $952,024Volatile liabilities
  • $954,300Insider loans
  • $676,214FHLB advances
  • $946,417Loans and leases held for sale
  • $15,084Unused loan commitments
  • $15,084Tier 1 (core) risk-based capital
  • $91,412Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $120,661Restructured Loans and leases
  • $935Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $38,500Total interest income
  • $11,520Total interest expense
  • $26,980Net interest income
  • $1,627Provision for loan and lease losses
  • $5,246Total noninterest income
  • $0Fiduciary activities
  • $2,817Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,429Additional noninterest income
  • $25,455Total noninterest expense
  • $14,285Salaries and employee benefits
  • $3,138Premises and equipment expense
  • $8,032Additional noninterest expense
  • $5,144Pre-tax net operating income
  • $2,112Securities gains (losses)
  • $1,890Applicable income taxes
  • $5,366Income before extraordinary items
  • $0Extraordinary gains - net
  • $5,366Net income attributable to bank
  • $0Net charge-offs
  • $5,366Cash dividends
  • $1,947Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.34%Yield on earning assets
  • 1.30%Cost of funding earning assets
  • 3.04%Net interest margin
  • 0.59%Noninterest income to earning assets
  • 2.87%Noninterest expense to earning assets
  • 0.40%Net operating income to assets
  • 0.56%Return on assets (ROA)
  • 0.76%Pretax return on assets
  • 5.64%Return on equity (ROE)
  • 5.64%Retained earnings to average equity (YTD only)
  • 0.31%Net charge-offs to loans
  • 83.56%Credit loss provision to net charge-offs
  • 3.48%Efficiency ratio
  • 78,989Assets per employee
  • 5.22%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.84%Loss allowance to noncurrent loans
  • 31.64%Noncurrent assets plus other real estate owned to assets
  • 2.35%Noncurrent loans to loans
  • 2.66%Net loans and leases to deposits
  • 98.35%Net loans and leases to core deposits
  • 102.65%Equity capital to assets
  • 10.47%Core capital (leverage) ratio
  • 9.66%Tier 1 risk-based capital ratio
  • 13.52%Total risk-based capital ratio
  • Memoranda
  • $14Average assets
  • $952,024Average earning assets
  • $95,164Average equity
  • $886,918Average loans

List of branches

  • 13 Massachusetts Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    017892South Shore Savings Bank1530 Main St, South Weymouth, MA 2190Febuary 01, 1833Full Service Brick and Mortar
    1291561North Weymouth Branch383 Bridge Street, Weymouth, MA 2191October 29, 1970Full Service Brick and Mortar
    2291562Hunt Street Branch295 Washington Street, Weymouth, MA 2188December 02, 1974Full Service Brick and Mortar
    3291563Grainte Crossing Branch370 Quincy Avenue, Quincy, MA 2169November 20, 1979Full Service Brick and Mortar
    5291462Shaws Plaza Branch650 Middle Street, East Weymouth, MA 2189October 16, 1969Full Service Brick and Mortar
    6291463Columbian Square Branch88 Pleasant Street, South Weymouth, MA 2190October 01, 1973Full Service Brick and Mortar
    7291464Norwell Branch400 Washington Street, Norwell, MA 2061October 15, 1978Full Service Brick and Mortar
    9291466East Bridgewater Branch225 Bedford Street, East Bridgewater, MA 2333March 03, 1990Full Service Brick and Mortar
    10361225Franklin Street Branch138 Franklin Street, Quincy, MA 2169May 11, 2001Full Service Brick and Mortar
    11363179Commercial Street Branch1515 Commercial Street, Weymouth, MA 2189January 15, 2002Full Service Brick and Mortar
    1261126Braintree Branch501 John Mahar Highway, Braintree, MA 2184June 15, 1998Full Service Brick and Mortar
    13443983Stoughton Branch1538 Turnpike Street, Stoughton, MA 2072June 30, 2005Full Service Brick and Mortar
    15453840Pembroke Branch75 Washington Street, Pembroke, MA 2359June 19, 2006Full Service Brick and Mortar

Comment about this bank, ask questions, or add new information about it:

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with South Shore Savings Bank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents