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

This bank is inactive as of May 06, 1994

  • South Shore Bank in Quincy, Massachusetts (MA)
  • Show street view No street view available for this location

South Shore Bank - Overview

  • General
  • FDIC Certificate #: 9711
    Status: Inactive
    Closing history: Merger - Without Assistance
    Acquiring institution: Fleet National Bank (#2558)
    Federal Reserve ID: 484208
    Date Established: March 31, 1836
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 41 (Interstate: No)
    FDIC's unique #: 6211
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Bank Insurance Fund (BIF)
    Bank Insurance Fund: Yes
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    State Chartered: Yes
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: May 06, 1994
    Last Structure Change Process Date: June 13, 1994
    Last Data Update: June 13, 1994
    Data Source Date: April 05, 2012
  • Location
  • Address: 1400 Hancock Street, Quincy, MA 2169
    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
    Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    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)
  • Financial Summary
  • Total assets: $1,205.9 mil

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

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1993)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $448Total assets
  • $1,243,882Cash and due from depository institutions
  • $113,778Interest-bearing balances
  • $239Securities
  • $94,051Federal funds sold & reverse repurchase agreements
  • $111,414Net loans & leases
  • $840,855Loan loss allowance
  • $28,838Trading account assets
  • $0Bank premises and fixed assets
  • $12,909Other real estate owned
  • $14,278Goodwill and other intangibles
  • $56,456Life insurance assets
  • $141All other assets
  • $0Total liabilities and capital
  • $1,243,882Total liabilities
  • $1,149,007Total deposits
  • $1,092,171Interest-bearing deposits
  • $855,319Deposits held in domestic offices
  • 1092171.00%% insured (estimated)
  • $84Federal funds purchased & repurchase agreements
  • $35,403Trading liabilities
  • $0Other borrowed funds
  • $5,000Subordinated debt
  • $0All other liabilities
  • $16,433Total equity capital
  • $16,433Total bank equity capital
  • $94,875Perpetual preferred stock
  • $0Common stock
  • $10,246Surplus
  • $59,897Undivided profits
  • Memoranda
  • $24,732Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $55,469Income earned, not collected on loans
  • $5,083Earning assets
  • $1,046,559Long-term assets (5+ years)
  • $227,656Average Assets, year-to-date
  • $1,280,797Average Assets, quarterly
  • $1,252,793Volatile liabilities
  • $75,135Insider loans
  • $17,741FHLB advances
  • $0Loans and leases held for sale
  • $0Unused loan commitments
  • $200,015Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $93,238Total risk weighted assets
  • $904,475Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 1993)

  • Dollar figures in thousands
  • $0Total interest income
  • $84,237Total interest expense
  • $26,744Net interest income
  • $57,493Provision for loan and lease losses
  • $9,460Total noninterest income
  • $17,001Fiduciary activities
  • $4,861Service charges on deposit accounts
  • $6,970Trading account gains & fees
  • $0Additional noninterest income
  • $5,170Total noninterest expense
  • $78,474Salaries and employee benefits
  • $18,371Premises and equipment expense
  • $5,138Additional noninterest expense
  • $54,965Pre-tax net operating income
  • -$13,440Securities gains (losses)
  • $5,850Applicable income taxes
  • -$2,285Income before extraordinary items
  • -$5,305Extraordinary gains - net
  • $1,360Net income attributable to bank
  • -$3,945Net charge-offs
  • $8,119Cash dividends
  • $0Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 1993)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 0.00%Yield on earning assets
  • 7.59%Cost of funding earning assets
  • 2.41%Net interest margin
  • 5.18%Noninterest income to earning assets
  • 1.53%Noninterest expense to earning assets
  • 7.07%Net operating income to assets
  • -0.73%Return on assets (ROA)
  • -0.31%Pretax return on assets
  • -0.49%Return on equity (ROE)
  • -4.40%Retained earnings to average equity (YTD only)
  • -4.40%Net charge-offs to loans
  • 0.94%Credit loss provision to net charge-offs
  • 116.52%Efficiency ratio
  • 105,297Assets per employee
  • 2.78%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.32%Loss allowance to noncurrent loans
  • 51.99%Noncurrent assets plus other real estate owned to assets
  • 5.61%Noncurrent loans to loans
  • 6.38%Net loans and leases to deposits
  • 76.99%Net loans and leases to core deposits
  • 79.52%Equity capital to assets
  • 7.63%Core capital (leverage) ratio
  • 7.38%Tier 1 risk-based capital ratio
  • 10.31%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $1,280,797Average earning assets
  • $89,577Average equity
  • $1,110,066Average loans

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 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