Bank failure · MA
Coolidge Bank and Trust Company (Boston, MA) — failed October 25, 1991
Coolidge Bank and Trust Company of Boston, Massachusetts was closed on October 25, 1991 and resolved through a purchase and assumption. Pioneer Financial, a Cooper (MA) took over its insured deposits. At failure it held $321.2M in assets and $315.0M in deposits. The FDIC's estimated loss on the failure is $85.7M (26.7% of assets).
- Closing date
- October 25, 1991
- FDIC certificate #
- 18317
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Pioneer Financial, a Cooper
- Insurance fund
- BIF
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