THE CENTRAL SAVINGS BANK Failed 1992
What happened
THE CENTRAL SAVINGS BANK of LOWELL, MA was closed on 1992-02-14. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MASSBANK FOR SAVINGS (READING, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3273
- FDIC Certificate
- 90226
- FDIC FIN
- 4450
- Bank name
- THE CENTRAL SAVINGS BANK
- Location
- LOWELL, MA
- Failure date
- 1992-02-14
- FDIC resolution date
- 1992-02-14
- Charter type
- SI
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $27M
- Deposits at failure
- $354M
- Assets at failure
- $369M
- Acquiring bank
- MASSBANK FOR SAVINGS (READING, MA)