COOLIDGE BANK AND TRUST COMPANY Failed 1991

BOSTON, MA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

COOLIDGE BANK AND TRUST COMPANY of BOSTON, MA was closed on 1991-10-25. The FDIC was named receiver.

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

Deposits were transferred to PIONEER FINANCIAL, A COOPER (MALDEN, MA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3225
FDIC Certificate
18317
FDIC FIN
4417
Bank name
COOLIDGE BANK AND TRUST COMPANY
Location
BOSTON, MA
Failure date
1991-10-25
FDIC resolution date
1991-10-25
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$86M
Deposits at failure
$315M
Assets at failure
$321M
Acquiring bank
PIONEER FINANCIAL, A COOPER (MALDEN, MA)