THE BANK FOR SAVINGS Failed 1992
What happened
THE BANK FOR SAVINGS of MALDEN, MA was closed on 1992-03-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MEDFORD SAVINGS BANK (MEDFORD, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3294
- FDIC Certificate
- 23289
- FDIC FIN
- 4461
- Bank name
- THE BANK FOR SAVINGS
- Location
- MALDEN, MA
- Failure date
- 1992-03-20
- FDIC resolution date
- 1992-03-20
- Charter type
- SI
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $22M
- Deposits at failure
- $393M
- Assets at failure
- $398M
- Acquiring bank
- MEDFORD SAVINGS BANK (MEDFORD, MA)
Other banks MEDFORD SAVINGS BANK acquired in FDIC resolutions