Bank failure · MA

Shore Bank & Trust Co. (Lynn, MA) — failed April 24, 1992

Shore Bank & Trust Co. of Lynn, Massachusetts was closed on April 24, 1992 and resolved through a purchase and assumption (insured deposits). Eastern Bank (MA) took over its insured deposits. At failure it held $183.2M in assets and $184.2M in deposits. The FDIC's estimated loss on the failure is $70.6M (38.5% of assets).