COOLIDGE CORNER CO-OPERATIVE BANK Failed 1991
What happened
COOLIDGE CORNER CO-OPERATIVE BANK of BROOKLINE, MA was closed on 1991-03-14. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BROOKLINE SAVINGS BANK (BROOKLINE, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3038
- FDIC Certificate
- 26557
- FDIC FIN
- 4332
- Bank name
- COOLIDGE CORNER CO-OPERATIVE BANK
- Location
- BROOKLINE, MA
- Failure date
- 1991-03-14
- FDIC resolution date
- 1991-03-14
- Charter type
- SI
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $12M
- Deposits at failure
- $84M
- Assets at failure
- $84M
- Acquiring bank
- BROOKLINE SAVINGS BANK (BROOKLINE, MA)
- FDIC comments
- The FDIC did not cover uninsured depositors. However, the Co-operative Central Bank, a corporation set up to provide deposit insurance to institutions in Massachusetts, covered the uninsured depositors.