Bank failure · MA

Beacon Co-Operative Bank (Boston, MA) — failed June 21, 1991

Beacon Co-Operative Bank of Boston, Massachusetts was closed on June 21, 1991 and resolved through a purchase and assumption. Grove Bank (MA) took over its insured deposits. At failure it held $31.8M in assets and $30.5M in deposits. The FDIC's estimated loss on the failure is $2.9M (9.1% of assets).