Bank Failure
Attleboro Pawtucket SB
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Closed August 21, 1992 · Pawtucket, MA · FDIC Cert #90257.
- Closing date
- August 21, 1992
- Headquarters
- Pawtucket, MA
- FDIC Certificate
- 90257
- Total assets at closing
- $632.5M
- Total deposits at closing
- $567.7M
- Estimated loss to the insurance fund
- $28.1M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- New Bedford Inst for SVG
Context
On August 21, 1992, regulators closed Attleboro Pawtucket SB, headquartered in Pawtucket, MA. At closing, the institution held approximately $632.5M in assets and $567.7M in deposits. The FDIC record names New Bedford Inst for SVG as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $28.1M.
By assets at closing this is the 312th largest of the 3,526 bank failures in the FDIC record, and the 26th of 179 in 1992. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Attleboro Pawtucket SB fail?
Attleboro Pawtucket SB was closed by regulators on August 21, 1992.
Who acquired Attleboro Pawtucket SB?
The FDIC record names New Bedford Inst for SVG as the acquiring institution in the resolution of Attleboro Pawtucket SB.
How big was Attleboro Pawtucket SB when it failed?
Attleboro Pawtucket SB had approximately $632.5M in total assets and $567.7M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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