Bank failure · MA

Merchants National Bank (Leominster, MA) — failed December 13, 1991

Merchants National Bank of Leominster, Massachusetts was closed on December 13, 1991 and resolved through a purchase and assumption. Worcester County Institutio (MA) took over its insured deposits. At failure it held $153.6M in assets and $147.4M in deposits. The FDIC's estimated loss on the failure is $29.4M (19.2% of assets).