Bank failure · MA
Midcounty Bank and Trust Company (Norwood, MA) — failed September 27, 1991
Midcounty Bank and Trust Company of Norwood, Massachusetts was closed on September 27, 1991 and resolved through a purchase and assumption. Dedham Institution for Savi (MA) took over its insured deposits. At failure it held $62.1M in assets and $58.2M in deposits. The FDIC's estimated loss on the failure is $12.4M (19.9% of assets).
- Closing date
- September 27, 1991
- FDIC certificate #
- 26843
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Dedham Institution for Savi
- Insurance fund
- BIF
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