The Graveyard › Banks › 1991

Bank of New England, National Association

Boston, MA · failed January 6, 1991 · FDIC certificate 2560

Bank of New England, National Association of Boston, MA failed on January 6, 1991. It opened in 1831, 160 years before. At its last report before that it held $13.4 billion in assets and $9.4 billion in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1988, it held $15.6 billion. The FDIC estimates that the Bank Insurance Fund lost $572.6 million on it.

1984-031990-12

Assets at the end$13.4 billionlast report before January 6, 1991

Deposits at the end$9.4 billion

Estimated loss to the fund$572.6 millionBIF

Largest in the quarterly reports$15.6 billionDecember 31, 1988

Equity to assets-0.9%December 31, 1990

Loans not being repaid19.5%noncurrent, December 31, 1990

Return on assets-3.21%a year's rate, December 31, 1990

Staff6,207full time, December 31, 1990

On the FDIC's list: BANK OF NEW ENGLAND, NATIONAL ASSOC.

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Also ended in 1991

Southeast Bank, National Association · Miami, FL · $11.0 billion in assets
Goldome · Buffalo, NY · $9.9 billion in assets
Great American Fsa · San Diego, CA · $9.5 billion in assets
The Connecticut Bank & Trust Co · Hartford, CT · $7.2 billion in assets
Sunbelt Savings · Irving, TX · $6.0 billion in assets
Columbia Savings and Loan Association · Beverly Hills, CA · $5.4 billion in assets

History, not advice.

Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.