# FIRST SERVICE BANK FOR SAVINGS

> **Failed bank** · LEOMINSTER, MA · failed 1989-03-31 · SI · FDIC cost $288M

## What happened

FIRST SERVICE BANK FOR SAVINGS of LEOMINSTER, MA was closed by state regulators on **1989-03-31**. The FDIC was named receiver.

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

Deposits were transferred to **PEOPLES SAVINGS BANK** (WORCESTER, MA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2307
- **FDIC Certificate:** 21973
- **FDIC FIN:** 5963
- **Bank name:** FIRST SERVICE BANK FOR SAVINGS
- **Location:** LEOMINSTER, MA
- **Failure date:** 1989-03-31
- **FDIC resolution date:** 1989-03-31
- **Charter type:** SI
- **Resolution type:** Insured Deposit Transfer — insured deposits transferred to another bank
- **Estimated FDIC DIF cost:** $288M
- **Deposits at failure:** $683M
- **Assets at failure:** $881M
- **Acquiring bank:** PEOPLES SAVINGS BANK (WORCESTER, MA)

## Other banks PEOPLES SAVINGS BANK has acquired in FDIC resolutions

- MILFORD SAVINGS BANK (MILFORD, MA) — failed 1990-07-06 — /failed-bank/2841
- PEOPLES STATE BANK (ODEBOLT, IA) — failed 1985-04-26 — /failed-bank/981

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20SERVICE%20BANK%20FOR%20SAVINGS

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST SERVICE BANK FOR SAVINGS (FDIC ID 2307), failed 1989-03-31. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/failed-bank/2307.

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