Data / Bank failures / 1994 / Commercial Bank and Trust Company
Commercial Bank and Trust Company, Lowell, MA: failed May 6, 1994
Commercial Bank and Trust Company in Lowell, Massachusetts, failed on May 6, 1994. Medford Savings Bank of Medford, MA, took over its deposits. It held $30.3 million in assets and $29.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.7 million (12.4% of its assets). By assets it was the 12th largest of 15 banks closed or assisted in 1994.
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The FDIC's record
- Closed
- May 6, 1994
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Medford Savings Bank, Medford, MA
- Total assets
- $30,274,000
- Total deposits
- $29,762,000
- Estimated cost to the FDIC
- $3,749,893 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 18332
Other bank failures in Massachusetts, 1992 to 1996
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Ludlow Savings Bank | Ludlow | October 21, 1994 | $222.7 million | $229.1 million | $2.9 million | Albany Savings Bank FSB |
| Heritage Bank for Savings | Holyoke | December 4, 1992 | $1.29 billion | $1.00 billion | $24 million | Fleet Bank of Ma NA |
| Guaranty-First Trust Company | Waltham | November 13, 1992 | $353.2 million | $348.9 million | $60.2 million | Fleet Bank of Ma NA |
| Plymouth Five Cents Savings Bank | Plymouth | September 18, 1992 | $221 million | $182.9 million | $5.3 million | Citizens Bank of Ma |
| Attleboro Pawtucket SB | Pawtucket | August 21, 1992 | $632.5 million | $567.7 million | $28.1 million | New Bedford Inst for SVG |
| Winchendon Savings Bank | Winchendon | August 14, 1992 | $65.2 million | $64 million | $7.3 million | Athol Savings Bank |
| Massachusetts Bank & Trust Co. | Brockton | July 31, 1992 | $61.8 million | $59.4 million | $13.4 million | Haymarket Coop Bank |
| New England Fsa | Wellesley | July 17, 1992 | $137.3 million | $118.1 million | $25.9 million | Cambridgeport Bank |
Other failed banks Medford Savings Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Bank for Savings | Malden | MA | March 20, 1992 | $398 million | $392.7 million | $21.7 million | Medford Savings Bank |
All bank failures in 1994 · All bank failures in Massachusetts · Every failed bank Medford Savings Bank took over · 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.