MASSACHUSETTS BANK & TRUST CO. Failed 1992
What happened
MASSACHUSETTS BANK & TRUST CO. of BROCKTON, MA was closed on 1992-07-31. 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
- 3363
- FDIC Certificate
- 18966
- FDIC FIN
- 4507
- Bank name
- MASSACHUSETTS BANK & TRUST CO.
- Location
- BROCKTON, MA
- Failure date
- 1992-07-31
- FDIC resolution date
- 1992-07-31
- 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.)
- $13M
- Deposits at failure
- $59M
- Assets at failure
- $62M
- Acquiring bank
- HAYMARKET COOP BANK (BOSTON, MA)
Other banks HAYMARKET COOP BANK acquired in FDIC resolutions