Bank Failure
Nashua Trust Company
BankRegReports is independent of Nashua Trust Company and never asks for online banking logins or passwords.
Closed October 10, 1991 · Nashua, NH · FDIC Cert #11486.
- Closing date
- October 10, 1991
- Headquarters
- Nashua, NH
- FDIC Certificate
- 11486
- Total assets at closing
- $425.1M
- Total deposits at closing
- $397.0M
- Estimated loss to the insurance fund
- $35.5M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First NH Bank
Context
On October 10, 1991, regulators closed Nashua Trust Company, headquartered in Nashua, NH. At closing, the institution held approximately $425.1M in assets and $397.0M in deposits. The FDIC record names First NH Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $35.5M.
By assets at closing this is the 434th largest of the 3,526 bank failures in the FDIC record, and the 56th of 268 in 1991. 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 Nashua Trust Company fail?
Nashua Trust Company was closed by regulators on October 10, 1991.
Who acquired Nashua Trust Company?
The FDIC record names First NH Bank as the acquiring institution in the resolution of Nashua Trust Company.
How big was Nashua Trust Company when it failed?
Nashua Trust Company had approximately $425.1M in total assets and $397.0M in deposits at the time of failure.
Other failures in 1991
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1991 | North Ridge Bank | $94.3M |
| Dec 13, 1991 | Investors FSB | $2.06B |
| Dec 13, 1991 | The Bank Mart | $578.2M |
| Dec 13, 1991 | Merchants National Bank | $153.6M |
| Dec 13, 1991 | Bank of East Hartford | $36.6M |
| Dec 13, 1991 | Federal Finance & Mortgage, LTD | $7.7M |
| Dec 12, 1991 | Granite Co-Operative Bank | $103.8M |
| Dec 6, 1991 | Saybrook Bank and Trust Company | $77.3M |
Explore: all failures · NH bank events · 1991 events · events hub