BUTLER BANK Failed 2010
What happened
BUTLER BANK of LOWELL, MA was closed on 2010-04-16. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to PEOPLE'S UNITED BANK (BRIDGEPORT, CT). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3779
- FDIC Certificate
- 26619
- FDIC FIN
- 10211
- Bank name
- BUTLER BANK
- Location
- LOWELL, MA
- Failure date
- 2010-04-16
- FDIC resolution date
- 2010-04-16
- Charter type
- SI
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $18M
- Deposits at failure
- $227M
- Assets at failure
- $246M
- Acquiring bank
- PEOPLE'S UNITED BANK (BRIDGEPORT, CT)