Bank failure · MA
Merchantsbank of Boston, a Co-Op (Boston, MA) — failed May 18, 1990
Merchantsbank of Boston, a Co-Op of Boston, Massachusetts was closed on May 18, 1990 and resolved through a insured deposit transfer. The First National Bank of (MA) took over its insured deposits. At failure it held $392.2M in assets and $391.0M in deposits. The FDIC's estimated loss on the failure is $95.6M (24.4% of assets).
- Closing date
- May 18, 1990
- FDIC certificate #
- 26862
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- The First National Bank of
- Insurance fund
- BIF
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