# FIRST AMERICAN BANK FOR SAVINGS

> **Failed bank** · BOSTON, MA · failed 1990-10-19 · SI · FDIC cost $138M

## What happened

FIRST AMERICAN BANK FOR SAVINGS of BOSTON, MA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $138M
- **Deposits at failure:** $489M
- **Assets at failure:** $526M
- **Acquiring bank:** THE BOSTON FIVE CENTS SAVIN (BOSTON, MA)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST AMERICAN BANK FOR SAVINGS (FDIC ID 2921), failed 1990-10-19. Retrieved via AI Analytics 2026-07-12 from https://api.ai-analytics.org/failed-bank/2921.

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