MILFORD SAVINGS BANK Failed 1990
What happened
MILFORD SAVINGS BANK of MILFORD, MA was closed on 1990-07-06. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to PEOPLES SAVINGS BANK (WORCESTER, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2841
- FDIC Certificate
- 90242
- FDIC FIN
- 4245
- Bank name
- MILFORD SAVINGS BANK
- Location
- MILFORD, MA
- Failure date
- 1990-07-06
- FDIC resolution date
- 1990-07-06
- Charter type
- SI
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $135M
- Deposits at failure
- $298M
- Assets at failure
- $328M
- Acquiring bank
- PEOPLES SAVINGS BANK (WORCESTER, MA)
Other banks PEOPLES SAVINGS BANK acquired in FDIC resolutions