The Graveyard › Banks › 1991
First Mutual Bank for Savings
Boston, MA · failed June 28, 1991 · FDIC certificate 17795
First Mutual Bank for Savings of Boston, MA failed on June 28, 1991. It opened on May 1, 1829, 162 years before. At its last report before that it held $1.1 billion in assets and $1.1 billion in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1988, it held $1.4 billion. The FDIC estimates that the Bank Insurance Fund lost $169.9 million on it.
1984-031991-03
Assets at the end$1.1 billionlast report before June 28, 1991
Deposits at the end$1.1 billion
Estimated loss to the fund$169.9 millionBIF
Largest in the quarterly reports$1.4 billionDecember 31, 1988
Equity to assets-5.1%March 31, 1991
Loans not being repaid7.4%noncurrent, March 31, 1991
Return on assets-5.26%a year's rate, March 31, 1991
Staff281full time, March 31, 1991
Also ended in 1991
- Bank of New England, National Association · Boston, MA · $13.4 billion in assets
- 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
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.