Bank Failure
Mohawk BK & TR Co.
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Closed February 16, 1980 · Greenfield, MA · FDIC Cert #21751.
- Closing date
- February 16, 1980
- Headquarters
- Greenfield, MA
- FDIC Certificate
- 21751
- Total assets at closing
- $5.9M
- Total deposits at closing
- $5.4M
- Estimated loss to the insurance fund
- $221K
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Baybank 1st Easthampton
Context
On February 16, 1980, regulators closed Mohawk BK & TR Co., headquartered in Greenfield, MA. At closing, the institution held approximately $5.9M in assets and $5.4M in deposits. The FDIC record names Baybank 1st Easthampton as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $221K.
By assets at closing this is the 2958th largest of the 3,526 bank failures in the FDIC record, and the 8th of 10 in 1980. 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 Mohawk BK & TR Co. fail?
Mohawk BK & TR Co. was closed by regulators on February 16, 1980.
Who acquired Mohawk BK & TR Co.?
The FDIC record names Baybank 1st Easthampton as the acquiring institution in the resolution of Mohawk BK & TR Co.
How big was Mohawk BK & TR Co. when it failed?
Mohawk BK & TR Co. had approximately $5.9M in total assets and $5.4M in deposits at the time of failure.
Other failures in 1980
| Date | Bank | Assets |
|---|---|---|
| Dec 31, 1980 | East Gadsden Bank | $44.0M |
| Nov 21, 1980 | Citizens State BK of Galena | $10.3M |
| Oct 11, 1980 | The Rochelle BK & TR Co. | $8.4M |
| Sep 12, 1980 | The Metro BK of Huntington, Inc. | $27.0M |
| Aug 8, 1980 | The Mission State BK & TR Co. | $86.4M |
| Jun 28, 1980 | City & County BK of Campbell CTY | $39.8M |
| Jun 4, 1980 | The Citizens State Bank | $2.0M |
| Feb 12, 1980 | First National BK of Carrington | $12.4M |
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