Bank failure · MA
Butler Bank (Lowell, MA) — failed April 16, 2010
Butler Bank of Lowell, Massachusetts was closed on April 16, 2010 and resolved through a purchase and assumption. People'S United Bank (CT) took over its insured deposits. At failure it held $245.5M in assets and $227.4M in deposits. The FDIC's estimated loss on the failure is $18.3M (7.4% of assets).
- Closing date
- April 16, 2010
- FDIC certificate #
- 26619
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- People'S United Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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