February 2021
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Management
Helping Our Community
Daniel Brennan, CFO

Just about one year ago, the COVID-19 pandemic began to affect us in more ways than we could ever imagine or plan for. We quickly learned to adapt to the new reality by adjusting branch operations, shifting to remote operations, and looking at new technology platforms to enhance the ways we serve you. We also kicked our commitment to our community into high gear with several initiatives:

  • We helped our local businesses navigate the Paycheck Protection Program (PPP) loan process and disbursed over 1,000 PPP loans totaling just over $130 million.
  • We aided more than 450 commercial and consumer borrowers with payment assistance programs.
  • We allocated $500,000 of our PPP earnings to the South Shore Bank Community Fund, to assist our clients who have been negatively impacted by COVID-19 with making monthly rent or mortgage payments.
  • Our Charitable Foundation, which exists to support the Bank’s ongoing commitment to the communities we serve, shifted its focus to more directly support local humanitarian and food pantry organizations which had an urgent need for financial support.

This month, we celebrate Black History Month. South Shore Bank is celebrating Black History Month by highlighting Black role models who motivate and inspire us through who they are and the work they do! Visit South Shore Bank on Facebook to learn more.

Lastly, several of our branches reopened this week. Other branches will remain by appointment only for in-branch visits. Check out the list and stay up to date on our responses to the COVID-19 pandemic by visiting Staying Safe | South Shore Bank.

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Your Deposits are Insured in Full
All deposits at South Shore Bank are insured in full. Each depositor is insured by Federal Deposit Insurance Corporation (FDIC) to at least $250,000. All deposits above the FDIC insurance amount are insured by Depositors Insurance Fund (DIF).
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