Bank failure · MA

New Heritage Bank (Lawrence, MA) — failed March 6, 1992

New Heritage Bank of Lawrence, Massachusetts was closed on March 6, 1992 and resolved through a insured deposit transfer. First Nb of Boston (MA) took over its insured deposits. At failure it held $99.8M in assets and $99.9M in deposits. The FDIC's estimated loss on the failure is $19.3M (19.3% of assets).