Bank failure · MA

The Bank for Savings (Malden, MA) — failed March 20, 1992

The Bank for Savings of Malden, Massachusetts was closed on March 20, 1992 and resolved through a purchase and assumption. Medford Savings Bank (MA) took over its insured deposits. At failure it held $398.0M in assets and $392.7M in deposits. The FDIC's estimated loss on the failure is $21.7M (5.5% of assets).