The Graveyard › Banks › 1991
Granite Co-operative Bank
Quincy, MA · failed December 12, 1991 · FDIC certificate 26585
Granite Co-operative Bank of Quincy, MA failed on December 12, 1991. It opened in 1953, 38 years before. At its last report before that it held $103.8 million in assets and $84.3 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1989, it held $129.7 million. The FDIC estimates that the Bank Insurance Fund lost $14.0 million on it.
1986-031991-09
Assets at the end$103.8 millionlast report before December 12, 1991
Deposits at the end$84.3 million
Estimated loss to the fund$14.0 millionBIF
Largest in the quarterly reports$129.7 millionMarch 31, 1989
Equity to assets-1.3%September 30, 1991
Loans not being repaid2.8%noncurrent, September 30, 1991
Return on assets-6.48%a year's rate, September 30, 1991
Staff50full time, September 30, 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.