Bank failure · MA

Granite Co-Operative Bank (Quincy, MA) — failed December 12, 1991

Granite Co-Operative Bank of Quincy, Massachusetts was closed on December 12, 1991 and resolved through a insured deposit transfer. South Boston Savings Bank (MA) took over its insured deposits. At failure it held $103.8M in assets and $84.3M in deposits. The FDIC's estimated loss on the failure is $14.0M (13.5% of assets).