MERCHANTS NATIONAL BANK Failed 1991
What happened
MERCHANTS NATIONAL BANK of LEOMINSTER, MA was closed on 1991-12-13. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to WORCESTER COUNTY INSTITUTIO (WORCESTER, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3246
- FDIC Certificate
- 2599
- FDIC FIN
- 4432
- Bank name
- MERCHANTS NATIONAL BANK
- Location
- LEOMINSTER, MA
- Failure date
- 1991-12-13
- FDIC resolution date
- 1991-12-13
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $29M
- Deposits at failure
- $147M
- Assets at failure
- $154M
- Acquiring bank
- WORCESTER COUNTY INSTITUTIO (WORCESTER, MA)
Other banks WORCESTER COUNTY INSTITUTIO acquired in FDIC resolutions