Bank failure · MA

The Central Savings Bank (Lowell, MA) — failed February 14, 1992

The Central Savings Bank of Lowell, Massachusetts was closed on February 14, 1992 and resolved through a purchase and assumption. Massbank for Savings (MA) took over its insured deposits. At failure it held $369.1M in assets and $354.2M in deposits. The FDIC's estimated loss on the failure is $26.7M (7.2% of assets).