Bank Failure
Winchendon Savings Bank
BankRegReports is independent of Winchendon Savings Bank and never asks for online banking logins or passwords.
Closed August 14, 1992 · Winchendon, MA · FDIC Cert #90307.
- Closing date
- August 14, 1992
- Headquarters
- Winchendon, MA
- FDIC Certificate
- 90307
- Total assets at closing
- $65.2M
- Total deposits at closing
- $64.0M
- Estimated loss to the insurance fund
- $7.3M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Athol Savings Bank
Context
On August 14, 1992, regulators closed Winchendon Savings Bank, headquartered in Winchendon, MA. At closing, the institution held approximately $65.2M in assets and $64.0M in deposits. The FDIC record names Athol Savings Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $7.3M.
By assets at closing this is the 1468th largest of the 3,526 bank failures in the FDIC record, and the 106th 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 Winchendon Savings Bank fail?
Winchendon Savings Bank was closed by regulators on August 14, 1992.
Who acquired Winchendon Savings Bank?
The FDIC record names Athol Savings Bank as the acquiring institution in the resolution of Winchendon Savings Bank.
How big was Winchendon Savings Bank when it failed?
Winchendon Savings Bank had approximately $65.2M in total assets and $64.0M 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 |
Explore: all failures · MA bank events · 1992 events · events hub