Deposit Insurance at NSB

North Shore Bank is well capitalized and is safe and sound. All deposits are insured in full, without limit or exception.


In addition, every NSB depositor is insured by the FDIC to at least $250,000. All deposits above the FDIC insurance amount are insured by the Depositors Insurance Fund (DIF). In effect, all deposits at North Shore Bank are insured in full — regardless of size.

Frequently Asked Questions

Are all types of deposit accounts at NSB fully insured by both FDIC and DIF insurance?

Yes. All types and classes of deposit accounts, both personal and business, are covered including savings, checking accounts, CDs, money market deposit accounts, and retirement deposit accounts.

Are deposits covered by DIF insurance if a branch is located outside of Massachusetts?

Yes. Deposits in NSB's Newton, NH, location are fully insured. DIF coverage is not affected by where a depositor resides or where a member bank branch is located.

Are there any forms, applications, or special account titles required to receive full deposit insurance?

No. There are no forms, applications, or special account title requirements. Full deposit insurance protection works simply. 

How financially strong is the DIF?

No depositor has ever lost a penny in a bank insured by both the FDIC and the DIF. 

Is the DIF a federal or state agency?

No. The DIF is a private, industry-sponsored insurance company and is not backed by the federal government or the Commonwealth of Massachusetts.

How are the assets of the DIF invested?

​​​​​​​Massachusetts law and the DIF’s investment policies restrict the DIF to investments suitable for an organization that insures the public’s deposits, primarily U.S. Treasury and federal agency obligations, and obligations fully guaranteed by the U.S. government. DIF investments are regularly reviewed by its Board of Directors to assure conformity with both the law and DIF investment policies.

Is the DIF subject to any form of regulatory scrutiny?

Yes. The DIF is examined annually by the Massachusetts Division of Banks and audited by an independent auditor.