FDIC Open-Bank Assistance
Unity Bank & Trust Company
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Assistance provided July 27, 1971 · Boston (Roxbury), MA .
- Assistance date
- July 27, 1971
- Headquarters
- Boston (Roxbury), MA
- Total deposits at the time
- $9.3M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this transaction)
- Insurance fund
- FDIC insurance fund
- Resolution
- Open-bank assistance (the institution stayed open)
Context
On July 27, 1971, the FDIC provided open-bank assistance to Unity Bank & Trust Company, headquartered in Boston (Roxbury), MA. No acquirer was involved; the institution remained independent.
The FDIC record for 1971 holds 6 failures and 1 open-bank assistance transaction. It falls in the period the record labels Postwar Stability (1945-1979), a period with 161 failures peaking at 16 in 1976.
Three decades of regulated calm — Reg Q ceilings, geographic branching limits, and high industry profits kept failures rare.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did the FDIC provide assistance to Unity Bank & Trust Company?
Unity Bank & Trust Company received FDIC open-bank assistance on July 27, 1971; it did not fail.
Bank failures in 1971
| Date | Bank | Assets |
|---|---|---|
| Dec 30, 1971 | First Community State Bank of Savannah | $3.7M |
| Nov 30, 1971 | The First National Bank of Cripple Creek | $1.3M |
| Apr 5, 1971 | Bank of Salem | $679K |
| Feb 17, 1971 | Farmers State Bank of Carlock | $2.2M |
| Feb 16, 1971 | Birmingham-Bloomfield Bank | $109.7M |
| Jan 25, 1971 | Sharpstown State Bank | $78.9M |
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