Bank failure · MA

Southstate Bank for Savings (Brockton, MA) — failed April 24, 1992

Southstate Bank for Savings of Brockton, Massachusetts was closed on April 24, 1992 and resolved through a purchase and assumption (insured deposits). Baybank (MA) took over its insured deposits. At failure it held $285.9M in assets and $267.5M in deposits. The FDIC's estimated loss on the failure is $10.5M (3.7% of assets).