GUARANTY-FIRST TRUST COMPANY Failed 1992
What happened
GUARANTY-FIRST TRUST COMPANY of WALTHAM, MA was closed on 1992-11-13. The FDIC was named receiver.
Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors
Deposits were transferred to FLEET BANK OF MA NA (BOSTON, MA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3409
- FDIC Certificate
- 17085
- FDIC FIN
- 4545
- Bank name
- GUARANTY-FIRST TRUST COMPANY
- Location
- WALTHAM, MA
- Failure date
- 1992-11-13
- FDIC resolution date
- 1992-11-13
- 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.)
- $60M
- Deposits at failure
- $349M
- Assets at failure
- $353M
- Acquiring bank
- FLEET BANK OF MA NA (BOSTON, MA)
Other banks FLEET BANK OF MA NA acquired in FDIC resolutions