OLYMPIC INTERNATIONAL BANK & TRUST Failed 1992
What happened
OLYMPIC INTERNATIONAL BANK & TRUST of BOSTON, MA was closed on 1992-06-26. The FDIC was named receiver.
Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors
Deposits were transferred to HAYMARKET COOP BANK (BOSTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3351
- FDIC Certificate
- 25918
- FDIC FIN
- 4500
- Bank name
- OLYMPIC INTERNATIONAL BANK & TRUST
- Location
- BOSTON, MA
- Failure date
- 1992-06-26
- FDIC resolution date
- 1992-06-26
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Payout / Insured deposits — FDIC paid insured deposits directly to depositors
- FDIC DIF cost (est.)
- $69M
- Deposits at failure
- $142M
- Assets at failure
- $140M
- Acquiring bank
- HAYMARKET COOP BANK (BOSTON, MA)
Other banks HAYMARKET COOP BANK acquired in FDIC resolutions