# LUDLOW SAVINGS BANK

> **Failed bank** · LUDLOW, MA · failed 1994-10-21 · SI · FDIC cost $3M

## What happened

LUDLOW SAVINGS BANK of LUDLOW, MA was closed by state regulators 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
- **Estimated FDIC DIF cost:** $3M
- **Deposits at failure:** $229M
- **Assets at failure:** $223M
- **Acquiring bank:** ALBANY SAVINGS BANK FSB (ALBANY, NY)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=LUDLOW%20SAVINGS%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, LUDLOW SAVINGS BANK (FDIC ID 3496), failed 1994-10-21. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/3496.

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