Bank failure · MA
Bank Five for Savings (Arlington, MA) — failed September 20, 1991
Bank Five for Savings of Arlington, Massachusetts was closed on September 20, 1991 and resolved through a purchase and assumption. Cambridge Savings Bank (MA) took over its insured deposits. At failure it held $386.6M in assets and $402.7M in deposits. The FDIC's estimated loss on the failure is $96.6M (25.0% of assets).
- Closing date
- September 20, 1991
- FDIC certificate #
- 24502
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Cambridge Savings Bank
- Insurance fund
- BIF
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