LANDMARK BANK FOR SAVINGS Failed 1992
What happened
LANDMARK BANK FOR SAVINGS of WHITMAN, MA was closed on 1992-06-12. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to ABINGTON SAVINGS BANK (ABINGTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3341
- FDIC Certificate
- 21997
- FDIC FIN
- 4496
- Bank name
- LANDMARK BANK FOR SAVINGS
- Location
- WHITMAN, MA
- Failure date
- 1992-06-12
- FDIC resolution date
- 1992-06-12
- Charter type
- SI
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $11M
- Deposits at failure
- $48M
- Assets at failure
- $62M
- Acquiring bank
- ABINGTON SAVINGS BANK (ABINGTON, MA)
- FDIC comments
- The FDIC did not cover uninsured depositors. However, the Co-operative Central Bank, a corporation set up to provide deposit insurance to institutions in Massachusetts, covered the uninsured depositors.