Bank failure · MA
Comfed Savings Bank (Lowell, MA) — failed December 14, 1990
Comfed Savings Bank of Lowell, Massachusetts was closed on December 14, 1990 and resolved through a purchase and assumption (insured deposits). Branch Sale (NA) took over its insured deposits. At failure it held $1.4B in assets and $931.9M in deposits. The FDIC's estimated loss on the failure is $321.3M (22.9% of assets).
- Closing date
- December 14, 1990
- FDIC certificate #
- 29457
- Resolution
- Purchase and assumption (insured deposits) (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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