BANK OF NEW ENGLAND, NATIONAL ASSOC Failed 1991
What happened
BANK OF NEW ENGLAND, NATIONAL ASSOC of BOSTON, MA was closed on 1991-01-06. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to NEW BANK OF NEW ENGLAND, NA (BOSTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2987
- FDIC Certificate
- 2560
- FDIC FIN
- 4309
- Bank name
- BANK OF NEW ENGLAND, NATIONAL ASSOC
- Location
- BOSTON, MA
- Failure date
- 1991-01-06
- FDIC resolution date
- 1991-07-14
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $573M
- Deposits at failure
- $9,407M
- Assets at failure
- $13,429M
- Acquiring bank
- NEW BANK OF NEW ENGLAND, NA (BOSTON, MA)