Bank failure · MA

Bank of New England, National Assoc (Boston, MA) — failed January 6, 1991

Bank of New England, National Assoc of Boston, Massachusetts was closed on January 6, 1991 and resolved through a purchase and assumption. New Bank of New England, NA (MA) took over its insured deposits. At failure it held $13.4B in assets and $9.4B in deposits. The FDIC's estimated loss on the failure is $572.6M (4.3% of assets).