OPINION: A message from our CEO: Confidence in South Shore Bank

March 13, 2023 By Jim Dunphy

You can be confident in your banking relationship with South Shore Bank.

While recent news has some feeling unsettled and has directly impacted others, rest assured that the American Banking System is strong and resilient, and regulators have effective tools to address an event like this. 

Like any relationship, the one you have with your bank should be entered into with careful consideration.

Here are four questions you should ask when choosing a banking partner for your personal or business needs.

Is the bank’s client base diversified?

South Shore Bank has a diversified client base. Our clients are dispersed throughout the Commonwealth and beyond and our business clients are well positioned across all segments including Commercial & Industrial, Real Estate, Retail, Insurance, and more.

Are my deposits insured?

At South Shore Bank all deposits are insured in full. Each depositor is insured by the Federal Deposit Insurance Corporation (FDIC) to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF).  DIF insurance is only available to savings banks within the Commonwealth of Massachusetts.

Is the bank well-capitalized with a diversified portfolio?

South Shore Bank has ample liquidity and borrowing capacity with a diversified investment portfolio. Limited fixed rate investments help lessen our exposure to unprecedented increases in interest rates.

What’s the bank’s purpose, how does it make long-term decisions?

Our purpose has been deeply rooted for more than 180 years – We believe the most valuable and enduring success is success that is shared with those around us. Together, we work to help our people, clients and communities build shared success. As a Mutual Bank, we can make smart long-term decisions without being bound by the needs of shareholders.

Thank you for the trust and loyalty you place with me, our management team and board of directors. We are committed to continuing to earn that trust every day.


Jim Dunphy
President and CEO South Shore Bank

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