Bank Failure
Unity BK & TR Company
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Closed July 30, 1982 · Boston, MA · FDIC Cert #19831.
- Closing date
- July 30, 1982
- Headquarters
- Boston, MA
- FDIC Certificate
- 19831
- Total assets at closing
- $12.8M
- Total deposits at closing
- $11.5M
- Estimated loss to the insurance fund
- $2.8M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Boston Bank of Commerce
Context
On July 30, 1982, regulators closed Unity BK & TR Company, headquartered in Boston, MA. At closing, the institution held approximately $12.8M in assets and $11.5M in deposits. The FDIC record names Boston Bank of Commerce as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $2.8M.
By assets at closing this is the 2649th largest of the 3,526 bank failures in the FDIC record, and the 24th of 34 in 1982. 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 Unity BK & TR Company fail?
Unity BK & TR Company was closed by regulators on July 30, 1982.
Who acquired Unity BK & TR Company?
The FDIC record names Boston Bank of Commerce as the acquiring institution in the resolution of Unity BK & TR Company.
How big was Unity BK & TR Company when it failed?
Unity BK & TR Company had approximately $12.8M in total assets and $11.5M in deposits at the time of failure.
Other failures in 1982
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1982 | The Security State Bank | $11.6M |
| Dec 10, 1982 | Bollinger County Bank | $15.9M |
| Nov 19, 1982 | North Kansas Sa | $36.5M |
| Nov 19, 1982 | Ranchlander National Bank | $4.3M |
| Nov 12, 1982 | Bank of Quitman | $17.4M |
| Nov 5, 1982 | The First National Bank of South Charlesto | $28.6M |
| Nov 5, 1982 | Texas BK of Amarillo | $13.1M |
| Nov 2, 1982 | Cedar Bluff Bank | $13.7M |
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