The Graveyard › Banks › 1991
Merchants National Bank
Leominster, MA · failed December 13, 1991 · FDIC certificate 2599
Merchants National Bank of Leominster, MA failed on December 13, 1991. It opened on July 31, 1911, 80 years before. At its last report before that it held $153.6 million in assets and $147.4 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1989, it held $198.5 million. The FDIC estimates that the Bank Insurance Fund lost $29.4 million on it.
1984-031991-09
Assets at the end$153.6 millionlast report before December 13, 1991
Deposits at the end$147.4 million
Estimated loss to the fund$29.4 millionBIF
Largest in the quarterly reports$198.5 millionDecember 31, 1989
Equity to assets-3.6%September 30, 1991
Loans not being repaid10.4%noncurrent, September 30, 1991
Return on assets-6.05%a year's rate, September 30, 1991
Staff89full 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.