THE FIRST NATIONAL BANK OF MARLBOROUGH Failed 1987

What happened

THE FIRST NATIONAL BANK OF MARLBOROUGH of MARLBOROUGH, MA was closed on 1987-01-23. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to WORCESTER CNTY INST FOR (WORCESTER, MA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1345

FDIC Certificate

2609

FDIC FIN

5795

Bank name

THE FIRST NATIONAL BANK OF MARLBOROUGH

Location

MARLBOROUGH, MA

Failure date

1987-01-23

FDIC resolution date

1987-01-23

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$19M

Deposits at failure

$56M

Assets at failure

$61M

Acquiring bank

WORCESTER CNTY INST FOR (WORCESTER, MA)