Data / Bank failures / 1991 / Colonial FSB
Colonial FSB, Cranston, RI: failed May 10, 1991
Colonial FSB in Cranston, Rhode Island, failed on May 10, 1991. It held $60.6 million in assets and $62.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $28.6 million (47.2% of its assets). By assets it was the 158th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- May 10, 1991
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Acquirer
- None, NA
- Total assets
- $60,629,000
- Total deposits
- $62,304,000
- Estimated cost to the FDIC
- $28,616,892 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 32537
Other bank failures in Rhode Island, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Old Stone SB | Providence | January 29, 1993 | $1.85 billion | $1.70 billion | $73.6 million | Citizens SB |
| Eastland Bank | Woonsocket | December 11, 1992 | $85.4 million | $76.2 million | Fleet National Bank | |
| Eastland Savings Bank | Woonsocket | December 11, 1992 | $515.3 million | $499 million | $10.3 million | Fleet National Bank |
All bank failures in 1991 · All bank failures in Rhode Island · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.