Bank failure · MA

Woburn Five Cents Savings Bank (Woburn, MA) — failed June 7, 1991

Woburn Five Cents Savings Bank of Woburn, Massachusetts was closed on June 7, 1991 and resolved through a purchase and assumption. Sterling Bank (MA) took over its insured deposits. At failure it held $247.2M in assets and $240.0M in deposits. The FDIC's estimated loss on the failure is $35.9M (14.5% of assets).