LUDLOW SAVINGS BANK Failed 1994
What happened
LUDLOW SAVINGS BANK of LUDLOW, MA was closed on 1994-10-21. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to ALBANY SAVINGS BANK FSB (ALBANY, NY). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3496
- FDIC Certificate
- 90230
- FDIC FIN
- 4618
- Bank name
- LUDLOW SAVINGS BANK
- Location
- LUDLOW, MA
- Failure date
- 1994-10-21
- FDIC resolution date
- 1994-10-21
- Charter type
- SI
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $3M
- Deposits at failure
- $229M
- Assets at failure
- $223M
- Acquiring bank
- ALBANY SAVINGS BANK FSB (ALBANY, NY)