Bank failure · MA
Commercial Bank and Trust Company (Lowell, MA) — failed May 6, 1994
Commercial Bank and Trust Company of Lowell, Massachusetts was closed on May 6, 1994 and resolved through a purchase and assumption. Medford Savings Bank (MA) took over its insured deposits. At failure it held $30.3M in assets and $29.8M in deposits. The FDIC's estimated loss on the failure is $3.7M (12.4% of assets).
- Closing date
- May 6, 1994
- FDIC certificate #
- 18332
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Medford Savings Bank
- Insurance fund
- BIF
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