Bank failure · RI

Old Stone Sb (Providence, RI) — failed January 29, 1993

Old Stone Sb of Providence, Rhode Island was closed on January 29, 1993 and resolved through a purchase and assumption. Citizens Sb (RI) took over its insured deposits. At failure it held $1.8B in assets and $1.7B in deposits. The FDIC's estimated loss on the failure is $73.6M (4.0% of assets).