MERCHANTSBANK OF BOSTON, A CO-OP Failed 1990
What happened
MERCHANTSBANK OF BOSTON, A CO-OP of BOSTON, MA was closed on 1990-05-18. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to THE FIRST NATIONAL BANK OF (BOSTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2767
- FDIC Certificate
- 26862
- FDIC FIN
- 4202
- Bank name
- MERCHANTSBANK OF BOSTON, A CO-OP
- Location
- BOSTON, MA
- Failure date
- 1990-05-18
- FDIC resolution date
- 1990-05-18
- Charter type
- SI
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $96M
- Deposits at failure
- $391M
- Assets at failure
- $392M
- Acquiring bank
- THE FIRST NATIONAL BANK OF (BOSTON, MA)
Other banks THE FIRST NATIONAL BANK OF acquired in FDIC resolutions
- THE WASHINGTON BANK (OF MARYLAND) (BALTIMORE, MD) — failed 1991-05-10
- BOSTON TRADE BANK (BOSTON, MA) — failed 1991-05-03
- THE STATE BANK OF OMAHA (OMAHA, TX) — failed 1990-12-14
- UNITED PEOPLES BANK (LAMPASAS, TX) — failed 1990-10-11
- ALVORD NATIONAL BANK (ALVORD, TX) — failed 1990-03-29
- LIBERTY CITY STATE BANK (LIBERTY CITY, TX) — failed 1990-03-15
- FARMERS STATE BANK OF SHIRO, TEXAS (SHIRO, TX) — failed 1990-01-25
- FIRST SECURITY BANK OF GLENDIVE (GLENDIVE, MT) — failed 1989-12-01
- STRAWN SECURITY BANK (STRAWN, TX) — failed 1989-10-05
- HILDALGO COUNTY BANK (MERCEDES, TX) — failed 1989-07-26