Bank failure · MA
First Service Bank for Savings (Leominster, MA) — failed March 31, 1989
First Service Bank for Savings of Leominster, Massachusetts was closed on March 31, 1989 and resolved through a insured deposit transfer. Peoples Savings Bank (MA) took over its insured deposits. At failure it held $880.7M in assets and $683.4M in deposits. The FDIC's estimated loss on the failure is $288.2M (32.7% of assets).
- Closing date
- March 31, 1989
- FDIC certificate #
- 21973
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Peoples Savings Bank
- Insurance fund
- FDIC
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