# MERCHANTSBANK OF BOSTON, A CO-OP

> **Failed bank** · BOSTON, MA · failed 1990-05-18 · SI · FDIC cost $96M

## What happened

MERCHANTSBANK OF BOSTON, A CO-OP of BOSTON, MA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $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 has acquired in FDIC resolutions

- THE WASHINGTON BANK (OF MARYLAND) (BALTIMORE, MD) — failed 1991-05-10 — /failed-bank/3094
- BOSTON TRADE BANK (BOSTON, MA) — failed 1991-05-03 — /failed-bank/3081
- THE STATE BANK OF OMAHA (OMAHA, TX) — failed 1990-12-14 — /failed-bank/2964
- UNITED PEOPLES BANK (LAMPASAS, TX) — failed 1990-10-11 — /failed-bank/2917
- ALVORD NATIONAL BANK (ALVORD, TX) — failed 1990-03-29 — /failed-bank/2715
- LIBERTY CITY STATE BANK (LIBERTY CITY, TX) — failed 1990-03-15 — /failed-bank/2699
- FARMERS STATE BANK OF SHIRO, TEXAS (SHIRO, TX) — failed 1990-01-25 — /failed-bank/2626
- FIRST SECURITY BANK OF GLENDIVE (GLENDIVE, MT) — failed 1989-12-01 — /failed-bank/2572
- STRAWN SECURITY BANK (STRAWN, TX) — failed 1989-10-05 — /failed-bank/2517
- HILDALGO COUNTY BANK (MERCEDES, TX) — failed 1989-07-26 — /failed-bank/2451

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=MERCHANTSBANK%20OF%20BOSTON%2C%20A%20CO-OP

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, MERCHANTSBANK OF BOSTON, A CO-OP (FDIC ID 2767), failed 1990-05-18. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/2767.

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