The Graveyard › Banks › 1990
Merchantsbank of Boston, A Co-Op
Boston, MA · failed May 18, 1990 · FDIC certificate 26862
Merchantsbank of Boston, A Co-Op of Boston, MA failed on May 18, 1990. It opened in 1881, 109 years before. At its last report before that it held $392.2 million in assets and $391.0 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1987, it held $571.6 million. The FDIC estimates that the Bank Insurance Fund lost $95.6 million on it.
1987-031990-03
Assets at the end$392.2 millionlast report before May 18, 1990
Deposits at the end$391.0 million
Estimated loss to the fund$95.6 millionBIF
Largest in the quarterly reports$571.6 millionJune 30, 1987
Equity to assets-3.2%March 31, 1990
Loans not being repaid14.2%noncurrent, March 31, 1990
Return on assets-2.32%a year's rate, March 31, 1990
Staff180full time, March 31, 1990
Also ended in 1990
- Imperial Federal Savings Association · San Diego, CA · $9.6 billion in assets
- Franklin Fsa · Ottawa · $9.3 billion in assets
- Centrust Bank, SB · Miami, FL · $8.2 billion in assets
- Empire of America FSB · Buffalo, NY · $8.2 billion in assets
- Merabank FSB · Phoenix, AZ · $6.3 billion in assets
- Southwest Savings Association · Dallas, TX · $5.3 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.