# LOWELL INSTITUTION FOR SAVINGS

> **Failed bank** · LOWELL, MA · failed 1991-08-30 · SI · FDIC cost $122M

## What happened

LOWELL INSTITUTION FOR SAVINGS of LOWELL, MA was closed by state regulators on **1991-08-30**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **THE FAMILY MUTUAL SAVINGS B** (HAVERHILL, MA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3178
- **FDIC Certificate:** 90228
- **FDIC FIN:** 4393
- **Bank name:** LOWELL INSTITUTION FOR SAVINGS
- **Location:** LOWELL, MA
- **Failure date:** 1991-08-30
- **FDIC resolution date:** 1991-08-30
- **Charter type:** SI
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $122M
- **Deposits at failure:** $318M
- **Assets at failure:** $386M
- **Acquiring bank:** THE FAMILY MUTUAL SAVINGS B (HAVERHILL, 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.

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, LOWELL INSTITUTION FOR SAVINGS (FDIC ID 3178), failed 1991-08-30. Retrieved via AI Analytics 2026-06-30 from https://api.ai-analytics.org/failed-bank/3178.

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