# ELIOT SAVINGS BANK

> **Failed bank** · BOSTON, MA · failed 1990-06-29 · SI · FDIC cost $212M

## What happened

ELIOT SAVINGS BANK of BOSTON, MA was closed by state regulators on **1990-06-29**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

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


## Key facts

- **FDIC ID:** 2831
- **FDIC Certificate:** 22320
- **FDIC FIN:** 4242
- **Bank name:** ELIOT SAVINGS BANK
- **Location:** BOSTON, MA
- **Failure date:** 1990-06-29
- **FDIC resolution date:** 1990-06-29
- **Charter type:** SI
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $212M
- **Deposits at failure:** $468M
- **Assets at failure:** $479M
- **Acquiring bank:** SOUTH BOSTON SAVINGS BANK (BOSTON, MA)

## Other banks SOUTH BOSTON SAVINGS BANK has acquired in FDIC resolutions

- GRANITE CO-OPERATIVE BANK (QUINCY, MA) — failed 1991-12-12 — /failed-bank/3245

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, ELIOT SAVINGS BANK (FDIC ID 2831), failed 1990-06-29. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/failed-bank/2831.

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