Data / Bank failures / 1992 / Heritage Bank for Savings
Heritage Bank for Savings, Holyoke, MA: failed December 4, 1992
Heritage Bank for Savings in Holyoke, Massachusetts, failed on December 4, 1992. Fleet Bank of Ma NA of Boston, MA, took over its deposits. It held $1.29 billion in assets and $1.00 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $24 million (1.9% of its assets). By assets it was the 19th largest of 181 banks closed or assisted in 1992.
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The FDIC's record
- Closed
- December 4, 1992
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- Fleet Bank of Ma NA, Boston, MA
- Total assets
- $1,288,435,000
- Total deposits
- $1,000,727,000
- Estimated cost to the FDIC
- $24,010,297 (estimate as of July 31, 2026)
- Charter
- Savings institution
- Insurance fund
- BIF
- FDIC certificate
- 21996
Other bank failures in Massachusetts, 1990 to 1994
| 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 |
| Commercial Bank and Trust Company | Lowell | May 6, 1994 | $30.3 million | $29.8 million | $3.7 million | Medford Savings Bank |
| 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 Fleet Bank of Ma NA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Guaranty-First Trust Company | Waltham | MA | November 13, 1992 | $353.2 million | $348.9 million | $60.2 million | Fleet Bank of Ma NA |
| Vanguard Savings Bank | Holyoke | MA | March 27, 1992 | $427.9 million | $432.6 million | $120.5 million | Fleet Bank of Ma NA |
All bank failures in 1992 · All bank failures in Massachusetts · Every failed bank Fleet Bank of Ma NA 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.