This institution is no longer active

Operations ceased on July 21, 1998. CRA examination history below reflects the period it was active.

SOMERSET SAVINGS BANK

SOMERVILLE, MA · Supervised by FDIC

Est. 1885FDIC #90,278RSSD: FDIC-90278

Outstanding Up

Current rating · Exam: January 1996

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At a Glance

Community Lending (CRA)

Outstanding

Exceeds federal requirements for lending in low- and moderate-income communities

Financial Health

Adequate

ROA 1.64%

Institution Profile

FDIC BankFind

Address

212 Elm Street, SOMERVILLE, MA

County

Middlesex County

Established

January 1, 1885

Total Assets

$524M(latest call report)

Community Reinvestment Rating

CRA / FFIEC

Federal regulators examine banks to ensure they lend and invest in the communities they serve, especially low- and moderate-income areas.

Overall Rating

Outstanding

Exceeds federal requirements for lending in low- and moderate-income communities

Exam Date

January 1, 1996

Exam Type

Not Reported

Regulator

FDIC

What is a CRA rating? →

⚠️This exam is 30 years old — CRA data may not reflect current lending practices. Regulators typically re-examine banks every 2–4 years.

Estimated next exam:Overdue(based on asset size)

Financial Snapshot

As of Q2 1998Call Report / FDIC

Total Assets

$524M

Total Deposits

$444M

Net Loans

$403M

Net Income

$4M

ROA

1.64%

ROE

22.83%

Risk-Based Capital

12.66%

Regulatory minimum: 8%

Total Assets — Last 8 Quarters

Total AssetsROA

Peer Comparison

Small banks

Compared to the peer-bank Small peer group (same asset tier).

Mortgage Denial Rate11.49%Peer avg: 7.63%▼ Below avg

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Mortgage Lending

CFPB HMDA

Year	Applications	Orig. Rate	Denial Rate
2024	1,097	81.31%	11.49%
2023	1,086	82.14%	11.05%
2022	1,582	80.47%	8.91%
2021	1,713	79.63%	8.99%
2020	2,064	78.54%	9.45%
2019	1,590	74.59%	12.39%
2018	1,425	75.86%	12.21%

2024 national avg denial rate: 23.75% · Small bank avg: 7.63% · above-average shown in red

Rating History

CRA / FFIEC

Rating Trend

↑ Improving

Based on last 2 exams

1 previous rating locked — dating back to 1994

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Rating Over Time

🔒 Locked

OutstandingSatisfactoryNeeds to ImproveSubst. Noncompliance

Exam dates and details are paywalled

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