Bank failure · MA
Milford Savings Bank (Milford, MA) — failed July 6, 1990
Milford Savings Bank of Milford, Massachusetts was closed on July 6, 1990 and resolved through a purchase and assumption. Peoples Savings Bank (MA) took over its insured deposits. At failure it held $328.1M in assets and $297.8M in deposits. The FDIC's estimated loss on the failure is $135.2M (41.2% of assets).
- Closing date
- July 6, 1990
- FDIC certificate #
- 90242
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Peoples Savings Bank
- Insurance fund
- BIF
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