# BANK OF NEW ENGLAND, NATIONAL ASSOC

> **Failed bank** · BOSTON, MA · failed 1991-01-06 · National commercial bank (OCC-chartered) · FDIC cost $573M

## What happened

BANK OF NEW ENGLAND, NATIONAL ASSOC of BOSTON, MA was closed by the OCC 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
- **Estimated FDIC DIF cost:** $573M
- **Deposits at failure:** $9,407M
- **Assets at failure:** $13,429M
- **Acquiring bank:** NEW BANK OF NEW ENGLAND, NA (BOSTON, MA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=BANK%20OF%20NEW%20ENGLAND%2C%20NATIONAL%20ASSOC

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, BANK OF NEW ENGLAND, NATIONAL ASSOC (FDIC ID 2987), failed 1991-01-06. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/2987.

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