56 failures since 1934 · $4.3 billion estimated loss
Bank failures in Massachusetts
Massachusetts has 56 bank failures on FDIC record since 1934, 1.6% of the national total and the 17th-highest count of any state or territory. The worst year was 1992, with 17. Since 2000 there have been 1; the most recent was Butler Bank on April 16, 2010. The largest by assets was Bank of New England, National Association of Boston, with $13.4 billion, in 1991.
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| April 16, 2010 | Butler Bank | Lowell, MA | $246 million | $18.3 million |
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| October 21, 1994 | Ludlow Savings Bank | Ludlow, MA | $223 million | $2.9 million |
| May 6, 1994 | Commercial Bank and Trust Company | Lowell, MA | $30.3 million | $3.7 million |
| December 4, 1992 | Heritage Bank for Savings | Holyoke, MA | $1.3 billion | $24.0 million |
| November 13, 1992 | Guaranty-First Trust Company | Waltham, MA | $353 million | $60.2 million |
| September 18, 1992 | Plymouth Five Cents Savings Bank | Plymouth, MA | $221 million | $5.3 million |
| August 21, 1992 | Attleboro Pawtucket Savings Bank | Pawtucket, MA | $632 million | $28.1 million |
| August 14, 1992 | Winchendon Savings Bank | Winchendon, MA | $65.2 million | $7.3 million |
| July 31, 1992 | Massachusetts Bank and Trust Company | Brockton, MA | $61.8 million | $13.4 million |
| July 17, 1992 | New England Federal Savings Bank | Wellesley, MA | $137 million | $25.9 million |
| June 26, 1992 | Olympic International Bank and Trust Company | Boston, MA | $140 million | $69.2 million |
| June 12, 1992 | Landmark Bank for Savings | Whitman, MA | $62.1 million | $11.2 million |
| May 29, 1992 | Workingmens Co-operative Bank | Boston, MA | $224 million | $12.9 million |
| May 15, 1992 | Malden Trust Company | Malden, MA | $225 million | $39.4 million |
| April 24, 1992 | Shore Bank and Trust Company | Lynn, MA | $183 million | $70.6 million |
| April 24, 1992 | Southstate Bank for Savings | Brockton, MA | $286 million | $10.5 million |
| March 27, 1992 | Vanguard Savings Bank | Holyoke, MA | $428 million | $120 million |
| March 20, 1992 | The Bank for Savings | Malden, MA | $398 million | $21.7 million |
| March 6, 1992 | New Heritage Bank | Lawrence, MA | $99.8 million | $19.3 million |
| February 14, 1992 | The Central Savings Bank | Lowell, MA | $369 million | $26.7 million |
| December 13, 1991 | Merchants National Bank | Leominster, MA | $154 million | $29.4 million |
| December 12, 1991 | Granite Co-operative Bank | Quincy, MA | $104 million | $14.0 million |
| October 25, 1991 | Coolidge Bank and Trust Company | Boston, MA | $321 million | $85.7 million |
| September 27, 1991 | MidCounty Bank and Trust Company | Norwood, MA | $62.1 million | $12.4 million |
| September 27, 1991 | Plymouth Federal Savings Bank | Plymouth, MA | $175 million | $20.1 million |
| September 20, 1991 | Bank Five for Savings | Arlington, MA | $387 million | $96.6 million |
| August 30, 1991 | Lowell Institution for Savings | Lowell, MA | $386 million | $122 million |
| June 28, 1991 | First Mutual Bank for Savings | Boston, MA | $1.1 billion | $170 million |
| June 21, 1991 | Beacon Co-operative Bank | Boston, MA | $31.8 million | $2.9 million |
| June 7, 1991 | Woburn Five Cents Savings Bank | Woburn, MA | $247 million | $35.9 million |
| May 31, 1991 | University Bank, National Association | Newton, MA | $319 million | $104 million |
| May 3, 1991 | Boston Trade Bank | Boston, MA | $307 million | $127 million |
| March 15, 1991 | The Blackstone Bank and Trust Company | Boston, MA | $49.3 million | $15.2 million |
| March 14, 1991 | Coolidge Corner Co-operative Bank | Brookline, MA | $83.7 million | $12.1 million |
| January 6, 1991 | Bank of New England, National Association | Boston, MA | $13.4 billion | $573 million |
| December 28, 1990 | Capitol Bank and Trust Company | Boston, MA | $486 million | $206 million |
| December 14, 1990 | Comfed Savings Bank | Lowell, MA | $1.4 billion | $321 million |
| December 12, 1990 | New England ALLBANK for Savings | Gardner, MA | $173 million | $68.0 million |
| October 19, 1990 | First American Bank for Savings | Boston, MA | $526 million | $138 million |
| September 21, 1990 | Sentry Federal Savings Bank | Hyannis, MA | $735 million | $192 million |
| July 6, 1990 | Milford Savings Bank | Milford, MA | $328 million | $135 million |
| June 29, 1990 | Eliot Savings Bank | Boston, MA | $479 million | $212 million |
| June 8, 1990 | Home Federal Savings Bank | Worcester, MA | $236 million | $139 million |
| June 1, 1990 | The Home National Bank of Milford | Milford, MA | $462 million | $94.7 million |
| May 18, 1990 | MerchantsBank of Boston, a Co-operative Bank | Boston, MA | $392 million | $95.6 million |
| April 27, 1990 | Home Owners Savings Bank F.S.B. | Burlington, MA | $3.5 billion | $354 million |
| March 31, 1989 | First Service Bank for Savings | Leominster, MA | $881 million | $288 million |
| October 16, 1987 | Yankee Bank for Finance and Savings, FSB | Boston, MA | $525 million | $63.6 million |
| January 23, 1987 | The First National Bank of Marlboro | Marlborough, MA | $60.7 million | $18.7 million |
| July 30, 1982 | Unity Bank and Trust Company | Boston, MA | $12.8 million | $2.8 million |
| February 16, 1980 | Mohawk Bank & Trust Company | Greenfield, MA | $5.9 million | $221 thousand |
| September 14, 1976 | The New Boston Bank and Trust Company | Boston, MA | $6.7 million | not estimated |
| May 9, 1975 | Chicopee Bank & Trust Company | Chicopee, MA | $11.4 million | not estimated |
| May 27, 1972 | Surety Bank and Trust Company | Wakefield, MA | $22.1 million | not estimated |
| December 3, 1938 | The National City Bank of Lynn | Lynn, MA | not reported | not estimated |
| September 11, 1937 | Stoneham Trust Company | Stoneham, MA | not reported | not estimated |