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  • Alert: Effective 8/30/2020 the Tablet App has been discontinued. To access SBMC Online Banking using a Tablet you will now open a browser window and type www.savingsbank.com in the address bar at the top of the page, then enter your Access ID and Passcode in the log-in screen.

    The SBA Paycheck Protection Program has ended. We can no longer accept applications. For information on loan forgiveness, please click on the Financial Wellness tab below and select SBA Paycheck Protection Program.

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Consolidated Statement of Condition

(unaudited, in thousands)

Assets

Assets chart for Savings Bank Consolidated Statement of Condition
Asset Type JUNE 30, 2020 December 31, 2019
Cash and Due from Banks $ 15,984 $ 13,232
Interest-Bearing Balances Due    
From Depository Institutions 73,658 19,430
     
Investment Securities 490,628 502,580
     
Loans 611,584 531,196
Less: Allowance for Loan Losses (11,737) (11,653)
Net Loans 599,847 519,543
     
Premises and Equipment 10,465 10,270
Other Assets 41,729 39,064
TOTAL ASSETS $ 1,232,311 $ 1,104,119

Liabilities and Shareholders’ Equity

Liabilities and Shareholders’ Equity chart for Savings Bank Consolidated Statement of Condition
Liabilities and Shareholder's Equity Type jUNE 30, 2020 December 31, 2019
Non-Interest Bearing Deposits $ 342,789 $ 263,984
Interest-Bearing Deposits 685,700 645,752
Total Deposits 1,028,489 909,736
     
Other Liabilities 4,318 5,104
     
TOTAL LIABILITIES 1,032,807 914,840
     
Common Stock 2,967 2,967
Additional Paid in Capital 4,524 4,524
Retained Earnings, Net 192,013 181,788
TOTAL SHAREHOLDERS' EQUITY 199,504 189,279
TOTAL LIABILITIES AND EQUITY $ 1,232,311 $ 1,104,119