Data / Bank failures / Massachusetts
Bank failures in Massachusetts: 56 banks since 1937
56 banks in Massachusetts failed between 1937 and 2010, holding $33.10 billion in assets and $26.58 billion in deposits. The FDIC estimates the cost to its insurance fund at $4.34 billion. The FDIC also assisted 3 open banks without closing them. The largest: Bank of New England, National Assoc ($13.43 billion), Home Owners Savings Bank ($3.49 billion), Comfed Savings Bank ($1.40 billion). By decade: 1930s 2, 1970s 4, 1980s 7, 1990s 45, 2010s 1.
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| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Butler Bank | Lowell | April 16, 2010 | $245.5 million | $227.4 million | $18.3 million | People's United Bank |
| 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 |
| 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 |
| Olympic International Bank & Trust | Boston | June 26, 1992 | $140.3 million | $142.3 million | $69.2 million | Haymarket Coop Bank |
| Landmark Bank for Savings | Whitman | June 12, 1992 | $62.1 million | $48.1 million | $11.2 million | Abington Savings Bank |
| Workingmen's Co-Operative Bank | Boston | May 29, 1992 | $223.7 million | $189.9 million | $12.9 million | First NB of Boston |
| Malden Trust Company | Malden | May 15, 1992 | $225.2 million | $238.5 million | $39.4 million | Eastern Bank |
| Southstate Bank for Savings | Brockton | April 24, 1992 | $285.9 million | $267.5 million | $10.5 million | Baybank |
| Shore Bank & Trust Co. | Lynn | April 24, 1992 | $183.2 million | $184.2 million | $70.6 million | Eastern Bank |
| Vanguard Savings Bank | Holyoke | March 27, 1992 | $427.9 million | $432.6 million | $120.5 million | Fleet Bank of Ma NA |
| The Bank for Savings | Malden | March 20, 1992 | $398 million | $392.7 million | $21.7 million | Medford Savings Bank |
| New Heritage Bank | Lawrence | March 6, 1992 | $99.8 million | $99.9 million | $19.3 million | First NB of Boston |
| The Central Savings Bank | Lowell | February 14, 1992 | $369.1 million | $354.2 million | $26.7 million | Massbank for Savings |
| Merchants National Bank | Leominster | December 13, 1991 | $153.6 million | $147.4 million | $29.4 million | Worcester County Institutio |
| Granite Co-Operative Bank | Quincy | December 12, 1991 | $103.8 million | $84.3 million | $14 million | South Boston Savings Bank |
| Coolidge Bank and Trust Company | Boston | October 25, 1991 | $321.2 million | $315 million | $85.7 million | Pioneer Financial, A Cooper |
| Plymouth Fsa | Plymouth | September 27, 1991 | $174.7 million | $137.8 million | $20.1 million | |
| Midcounty Bank and Trust Company | Norwood | September 27, 1991 | $62.1 million | $58.2 million | $12.4 million | Dedham Institution for Savi |
| Bank Five for Savings | Arlington | September 20, 1991 | $386.6 million | $402.7 million | $96.6 million | Cambridge Savings Bank |
| Lowell Institution for Savings | Lowell | August 30, 1991 | $386.4 million | $318.1 million | $122 million | The Family Mutual Savings B |
| First Mutual Bank for Savings | Boston | June 28, 1991 | $1.13 billion | $1.08 billion | $169.9 million | First National Bank of Bost |
| Beacon Co-Operative Bank | Boston | June 21, 1991 | $31.8 million | $30.5 million | $2.9 million | Grove Bank |
| Woburn Five Cents Savings Bank | Woburn | June 7, 1991 | $247.2 million | $240 million | $35.9 million | Sterling Bank |
| University Bank, National Association | Newton | May 31, 1991 | $318.8 million | $295.8 million | $104.2 million | Sterling Bank |
| Boston Trade Bank | Boston | May 3, 1991 | $307 million | $301.5 million | $127.3 million | The First National Bank of |
| The Blackstone Bank and Trust Co | Boston | March 15, 1991 | $49.3 million | $48.4 million | $15.2 million | Baybank Boston, N.A. |
| Coolidge Corner Co-Operative Bank | Brookline | March 14, 1991 | $83.7 million | $83.8 million | $12.1 million | Brookline Savings Bank |
| Bank of New England, National Assoc | Boston | January 6, 1991 | $13.43 billion | $9.41 billion | $572.6 million | New Bank of New England, NA |
| Capitol Bank and Trust Company | Boston | December 28, 1990 | $485.6 million | $442.3 million | $205.9 million | |
| Comfed Savings Bank | Lowell | December 14, 1990 | $1.40 billion | $931.9 million | $321.3 million | |
| New England Allbank for Savings | Gardner | December 12, 1990 | $173.3 million | $172.3 million | $68 million | Worcester County Institutio |
| First American Bank for Savings | Boston | October 19, 1990 | $526.2 million | $489.3 million | $138 million | The Boston Five Cents Savin |
| Sentry Federal Savings Bank | Hyannis | September 21, 1990 | $735.5 million | $588.5 million | $192.1 million | New Bedford Institution for |
| Milford Savings Bank | Milford | July 6, 1990 | $328.1 million | $297.8 million | $135.2 million | Peoples Savings Bank |
| Eliot Savings Bank | Boston | June 29, 1990 | $479.5 million | $468 million | $212.3 million | South Boston Savings Bank |
| Home Federal | Worcester | June 8, 1990 | $235.8 million | $243.5 million | $139.5 million | |
| The Home National Bank of Milford | Milford | June 1, 1990 | $461.7 million | $436.3 million | $94.7 million | Baybank Middlesex |
| Merchantsbank of Boston, A Co-Op | Boston | May 18, 1990 | $392.2 million | $391 million | $95.6 million | The First National Bank of |
| Home Owners Savings Bank | Burlington | April 27, 1990 | $3.49 billion | $2.70 billion | $354.3 million | |
| First Service Bank for Savings | Leominster | March 31, 1989 | $880.7 million | $683.4 million | $288.2 million | Peoples Savings Bank |
| Yankee Bank for Finance & Saving | Boston | October 16, 1987 | $525.5 million | $488.3 million | $63.6 million | Boston Five Cents SB FSB |
| The First National Bank of Marlborough | Marlborough | January 23, 1987 | $60.7 million | $55.9 million | $18.7 million | Worcester Cnty Inst for |
| First FS&LA (assistance) | Boston | October 12, 1982 | $236 million | $177.7 million | $3 million | Northeast Savings FA |
| Freedom FS&LA (assistance) | Worcester | October 12, 1982 | $790.7 million | $645 million | $9.8 million | Northeast Savings FA |
| Unity BK & TR Company | Boston | July 30, 1982 | $12.8 million | $11.5 million | $2.8 million | Boston Bank of Commerce |
| Mohawk BK & TR Co. | Greenfield | February 16, 1980 | $5.9 million | $5.4 million | $221,423 | Baybank 1ST Easthampton |
| The New Boston Bank and Trust Company | Boston | September 14, 1976 | $6.7 million | $5.3 million | ||
| Chicopee Bank & Trust Company | Chicopee | May 9, 1975 | $11.4 million | $9.9 million | ||
| Surety Bank and Trust Company | Wakefield | May 27, 1972 | $22.1 million | $20.4 million | ||
| Unity Bank & Trust Company (assistance) | Boston (roxbury) | July 27, 1971 | $9.3 million | |||
| The National City Bank of Lynn | Lynn | December 3, 1938 | $2.2 million | |||
| Stoneham Trust Company | Stoneham | September 11, 1937 | $809,000 |
Other states
- Alabama 39
- Alaska 13
- Arizona 44
- Arkansas 45
- California 265
- Colorado 103
- Connecticut 48
- Delaware 4
- District of Columbia 8
- Florida 199
- Georgia 135
- Guam 1
- Hawaii 6
- Idaho 8
- Illinois 229
- Indiana 52
- Iowa 83
- Kansas 124
- Kentucky 47
- Louisiana 167
- Maine 6
- Maryland 36
- Michigan 46
- Minnesota 81
- Mississippi 38
- Missouri 136
- Montana 19
- Nebraska 54
- Nevada 17
- New Hampshire 20
- New Jersey 112
- New Mexico 32
- New York 104
- North Carolina 30
- North Dakota 43
- Ohio 61
- Oklahoma 183
- Oregon 38
- Pennsylvania 73
- Puerto Rico 17
- Rhode Island 7
- South Carolina 23
- South Dakota 44
- Tennessee 80
- Texas 911
- U.S. Virgin Islands 1
- Utah 30
- Vermont 5
- Virginia 54
- Washington 38
- West Virginia 19
- Wisconsin 51
- Wyoming 29
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.