# YANKEE BANK FOR FINANCE & SAVING

> **Failed bank** · BOSTON, MA · failed 1987-10-16 · Savings bank · FDIC cost $64M

## What happened

YANKEE BANK FOR FINANCE & SAVING of BOSTON, MA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $64M
- **Deposits at failure:** $488M
- **Assets at failure:** $525M
- **Acquiring bank:** BOSTON FIVE CENTS SB FSB (BOSTON, MA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=YANKEE%20BANK%20FOR%20FINANCE%20%26%20SAVING

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, YANKEE BANK FOR FINANCE & SAVING (FDIC ID 1538), failed 1987-10-16. Retrieved via AI Analytics 2026-07-20 from https://api.ai-analytics.org/failed-bank/1538.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*