# SOUTHBRIDGE SAVINGS BANK
SOUTHBRIDGE, MA · FDIC certificate 23524 · asset band $300M-1B · latest filing 2017-03 · stopped filing (departed)

**Verdict on the desk:** this could be *credit-stressed*. Composite score 6 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $558.6M | |
| Deposits | $424.3M | |
| Loans and leases | $482.8M | |
| Total equity | $45.4M | |
| Loans / deposits | 113.64% (p97 of band) | 83.04% |
| Liquid assets / assets | 6.83% (p1 of band) | |
| Uninsured deposits / deposits | 9.18% (p8 of band) | 20.72% |
| Brokered deposits | 0.00% | |
| Wholesale funding | 15.05% (p82 of band) | |
| FHLB advances / assets | 15.05% | |
| Tier 1 leverage | 8.09% (p5 of band) | 10.16% |
| Unrealized securities loss / equity | -0.74% (p43 of band) | -0.46% |
| AOCI / equity | 0.04% (p21 of band) | |
| ROA (annualized) | -0.01% (p2 of band) | 0.90% |
| Net interest margin | 3.03% (p15 of band) | 3.57% |
| Efficiency ratio | 91.75% (p96 of band) | |
| Noncurrent loans | 0.80% (p60 of band) | 0.63% |
| Net charge-offs (annualized) | 0.02% (p58 of band) | |
| Reserve coverage of noncurrent | 16.72% | |
| Real estate % of loans | 94% | |
| Construction % of loans | 19.19% (p27 of band) | |
| Auto loans | $9.8M (2.02% of loans; DQ 0.46%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p44 of band) | |
| Deposits YoY | 7.6% | |
| Employees | 110 | |

## Flags firing in the latest filing

- **loans exceed deposits** (`liq_ltd`)
- **wholesale funding >15%** (`liq_wholesale`)
- **liquid assets <10%** (`liq_thin`)
- **losing money** (`earn_negative`)
- **expense ratio p90** (`earn_efficiency`)
- **reserve under noncurrent** (`aq_reserve`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 2 | loans exceed deposits, reserve under noncurrent |  |
| 2011-06 | 3 | liquid assets <10% |  |
| 2011-09 | 2 |  | liquid assets <10% |
| 2011-12 | 2 |  |  |
| 2012-03 | 2 |  |  |
| 2012-06 | 2 |  |  |
| 2012-09 | 2 |  |  |
| 2012-12 | 2 |  |  |
| 2013-03 | 1 |  | loans exceed deposits |
| 2013-06 | 1 |  |  |
| 2013-09 | 2 | loans exceed deposits |  |
| 2013-12 | 2 |  |  |
| 2014-03 | 3 | capital falling |  |
| 2014-06 | 3 | liquid assets <10% | capital falling |
| 2014-09 | 3 |  |  |
| 2014-12 | 3 |  |  |
| 2015-03 | 5 | capital falling, expense ratio p90 |  |
| 2015-06 | 5 |  |  |
| 2015-09 | 5 | wholesale funding >15% | expense ratio p90 |
| 2015-12 | 5 |  |  |
| 2016-03 | 5 |  |  |
| 2016-06 | 4 |  | capital falling |
| 2016-09 | 5 | expense ratio p90 |  |
| 2016-12 | 4 | capital falling | wholesale funding >15%, expense ratio p90 |
| 2017-03 | 6 | wholesale funding >15%, losing money, expense ratio p90 | capital falling |

## In the news (Google News, unfiltered, newest first; check the city)

- 2020-10-12 [Cornerstone Bank - communityadvocate.com](https://news.google.com/rss/articles/CBMirgFBVV95cUxQaHhJYndnRFBOcGtKLU9yWGNNWnBDTTNoUWxWQVpYVy1sZ0R1Z1FOT1QwcTN6RXMyeHRZd0o5czJWdXRaOUNBanB6cDJUVTM1N0NlcTFHS3ZHZ1lsNk5IRmttT1FJSTkwVHR4a0M2OXdSaUs1bFhHMGl5SzBKaEswWXlYM20zZk85dHZqS29zY3R3NlpTSmlMX0xXcHJ1aTNPa01TOWYtekpVazBXZlE?oc=5) · communityadvocate.com
- 2024-03-11 [Open In Shrewsbury: New Branch Of Regional Bank On Main Street - Patch](https://news.google.com/rss/articles/CBMikAFBVV95cUxPaTd3WF9ybGJpenR2Tlo5WjUwSHRadzZkWUpqQ1lFdWtVUG9na2FyTm1sSUJCX05zM1JsT2s2N0Jxa3hLRkpsX1VPN1M0MjFPRjEwX2JBRnNHcjFwak42X1Z3QnlmZEVnX2lISnhNMmc2LXpZb3hHZmdnMVF1b3FFZmtTa2ZXZm1TTEJGTFlzZGk?oc=5) · Patch
- 2025-05-19 [2025 Power 100: Todd Tallman - wbjournal.com](https://news.google.com/rss/articles/CBMiVkFVX3lxTE10QXJiUjlfOWJ5UzlZUFhSNjBWTWdRMXNVSW9uUnJyUzdtd3h1YmRJVDBPaEFxM0pTdDFVdWNibGVVUW5sWlVXX3Y0NG1LOXF1dnVKbGtB?oc=5) · wbjournal.com
- 2024-06-28 [Obituary | Philip Pettinelli of Southbridge, Massachusetts - Daniel T. Morrill Funeral Home](https://news.google.com/rss/articles/CBMibkFVX3lxTE1DM1ZWYTNiLWNiREdqNFBsZThmbmpOVW5SQUpzVzJVYTd6ZHdLS1FZRkdJclp4ZU04VUJnbnotUFJ5Y0R2b054eHM5V1AxZTNWTWRQd2RFblMwbG1MSFZkbzh5VUJYeVlYVWZoamZ3?oc=5) · Daniel T. Morrill Funeral Home
- 2025-02-03 [PeoplesBank merges with Worcester’s Cornerstone - masslive.com](https://news.google.com/rss/articles/CBMinAFBVV95cUxNQTlzdHdta0Q2bk9TQmNsVWJLbS1hcHpNSHE3UkFYUzdHT3pCV2I2Y0RranJleWRVYk9jMGdoeDZWT01JOFF0Y29tSkM0TjR6WjAyc29SZlhHY1FpaUtuS3JWdTc3MlNzTmdRVmlnZnJjSXV6WWZWQ0I2aklsX0dQaFFUTGc4Y2UzYm4tZWt6cE1nbEJEZHMtbWZqQnY?oc=5) · masslive.com
- 2021-10-18 [Carl Olson Obituary (2012) - Southbridge, MA - Worcester Telegram & Gazette - legacy.com](https://news.google.com/rss/articles/CBMiigFBVV95cUxNT3c4NVdCRmFsQ1VROTlUTU43ZXhQSUNGaGxwYkY3anVEdlBvdVBxN0h4UkdDUlU5UUxVaTFrSjZlVHR2UTJxeG5CYnVTU0tReTljOGdMUVdZVUhockhEUWo1Sm9kMkZhdDhjbWpIUXB6UDNjLVBncWJSMDIxYWtkWTRxNXJnMnU0UHc?oc=5) · legacy.com
- 2013-05-27 [Movers & Shakers: May 27 - wbjournal.com](https://news.google.com/rss/articles/CBMiYkFVX3lxTE1ncmRYOWZmUG9yWFFzRER0cnRFaFZUYUNjb2pmMGlXLXc3R2xqeUxiUDVjUnJ3cU1QUGhwZHQ3QTd5MGR0UDVKMjZNdFFwRTVaQnJpTU5tV2QzVENpQVRzZGtB?oc=5) · wbjournal.com
- 2022-05-24 [Dr. Alexander M. Neidhardt, III Obituary - Worcester Telegram](https://news.google.com/rss/articles/CBMiW0FVX3lxTE1CYzJ6QkR4elBGYmo0bFVkRW9YY3FCTFF0ZWctTGJiQW52V1Buc1lrOEVZMno5Zy15c0Q4NnU3aEN3VHozRUN3TEk1aXY3M0I0WVFBSEdVZ3R6dHc?oc=5) · Worcester Telegram

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=23524 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/36.json (key "23524", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide