GRANITE CO-OPERATIVE BANK Failed 1991
What happened
GRANITE CO-OPERATIVE BANK of QUINCY, MA was closed on 1991-12-12. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to SOUTH BOSTON SAVINGS BANK (BOSTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3245
- FDIC Certificate
- 26585
- FDIC FIN
- 4430
- Bank name
- GRANITE CO-OPERATIVE BANK
- Location
- QUINCY, MA
- Failure date
- 1991-12-12
- FDIC resolution date
- 1991-12-12
- Charter type
- SI
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $14M
- Deposits at failure
- $84M
- Assets at failure
- $104M
- Acquiring bank
- SOUTH BOSTON SAVINGS BANK (BOSTON, MA)
Other banks SOUTH BOSTON SAVINGS BANK acquired in FDIC resolutions