Bank failure · MA

Lowell Institution for Savings (Lowell, MA) — failed August 30, 1991

Lowell Institution for Savings of Lowell, Massachusetts was closed on August 30, 1991 and resolved through a purchase and assumption. The Family Mutual Savings B (MA) took over its insured deposits. At failure it held $386.4M in assets and $318.1M in deposits. The FDIC's estimated loss on the failure is $122.0M (31.6% of assets).