Bank failure · MA

Guaranty-First Trust Company (Waltham, MA) — failed November 13, 1992

Guaranty-First Trust Company of Waltham, Massachusetts was closed on November 13, 1992 and resolved through a purchase and assumption (insured deposits). Fleet Bank of Ma NA (MA) took over its insured deposits. At failure it held $353.2M in assets and $348.9M in deposits. The FDIC's estimated loss on the failure is $60.2M (17.0% of assets).