Bank failure · MA

First American Bank for Savings (Boston, MA) — failed October 19, 1990

First American Bank for Savings of Boston, Massachusetts was closed on October 19, 1990 and resolved through a insured deposit transfer. The Boston Five Cents Savin (MA) took over its insured deposits. At failure it held $526.2M in assets and $489.3M in deposits. The FDIC's estimated loss on the failure is $138.0M (26.2% of assets).