Bank failure · MA

Heritage Bank for Savings (Holyoke, MA) — failed December 4, 1992

Heritage Bank for Savings of Holyoke, Massachusetts was closed on December 4, 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 $1.3B in assets and $1.0B in deposits. The FDIC's estimated loss on the failure is $24.0M (1.9% of assets).