FIRST AMERICAN BANK FOR SAVINGS Failed 1990
What happened
FIRST AMERICAN BANK FOR SAVINGS of BOSTON, MA was closed on 1990-10-19. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to THE BOSTON FIVE CENTS SAVIN (BOSTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2921
- FDIC Certificate
- 22064
- FDIC FIN
- 4286
- Bank name
- FIRST AMERICAN BANK FOR SAVINGS
- Location
- BOSTON, MA
- Failure date
- 1990-10-19
- FDIC resolution date
- 1990-10-19
- Charter type
- SI
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $138M
- Deposits at failure
- $489M
- Assets at failure
- $526M
- Acquiring bank
- THE BOSTON FIVE CENTS SAVIN (BOSTON, MA)