# THE BANK FOR SAVINGS

> **Failed bank** · MALDEN, MA · failed 1992-03-20 · SI · FDIC cost $22M

## What happened

THE BANK FOR SAVINGS of MALDEN, MA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $22M
- **Deposits at failure:** $393M
- **Assets at failure:** $398M
- **Acquiring bank:** MEDFORD SAVINGS BANK (MEDFORD, MA)

## Other banks MEDFORD SAVINGS BANK has acquired in FDIC resolutions

- COMMERCIAL BANK AND TRUST COMPANY (LOWELL, MA) — failed 1994-05-06 — /failed-bank/3485

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=THE%20BANK%20FOR%20SAVINGS

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE BANK FOR SAVINGS (FDIC ID 3294), failed 1992-03-20. Retrieved via AI Analytics 2026-05-16 from https://api.ai-analytics.org/failed-bank/3294.

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