FIRST MUTUAL BANK FOR SAVINGS Failed 1991
What happened
FIRST MUTUAL BANK FOR SAVINGS of BOSTON, MA was closed on 1991-06-28. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST NATIONAL BANK OF BOST (BOSTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3133
- FDIC Certificate
- 17795
- FDIC FIN
- 4371
- Bank name
- FIRST MUTUAL BANK FOR SAVINGS
- Location
- BOSTON, MA
- Failure date
- 1991-06-28
- FDIC resolution date
- 1991-06-28
- Charter type
- SI
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $170M
- Deposits at failure
- $1,081M
- Assets at failure
- $1,130M
- Acquiring bank
- FIRST NATIONAL BANK OF BOST (BOSTON, MA)