Bank failure · MA
Yankee Bank for Finance & Saving (Boston, MA) — failed October 16, 1987
Yankee Bank for Finance & Saving of Boston, Massachusetts was closed on October 16, 1987 and resolved through a insured deposit transfer. Boston Five Cents Sb FSB (MA) took over its insured deposits. At failure it held $525.5M in assets and $488.3M in deposits. The FDIC's estimated loss on the failure is $63.6M (12.1% of assets).
- Closing date
- October 16, 1987
- FDIC certificate #
- 17888
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Boston Five Cents Sb FSB
- Insurance fund
- FDIC
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