YANKEE BANK FOR FINANCE & SAVING Failed 1987
What happened
YANKEE BANK FOR FINANCE & SAVING of BOSTON, MA was closed on 1987-10-16. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to BOSTON FIVE CENTS SB FSB (BOSTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1538
- FDIC Certificate
- 17888
- FDIC FIN
- 5913
- Bank name
- YANKEE BANK FOR FINANCE & SAVING
- Location
- BOSTON, MA
- Failure date
- 1987-10-16
- FDIC resolution date
- 1987-10-16
- Charter type
- Savings bank
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $64M
- Deposits at failure
- $488M
- Assets at failure
- $525M
- Acquiring bank
- BOSTON FIVE CENTS SB FSB (BOSTON, MA)