Data / Bank failures / 1987 / The First National Bank of Marlborough
The First National Bank of Marlborough, Marlborough, MA: failed January 23, 1987
The First National Bank of Marlborough in Marlborough, Massachusetts, failed on January 23, 1987. Worcester Cnty Inst for of Worcester, MA, took over its deposits. It held $60.7 million in assets and $55.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $18.7 million (30.7% of its assets). By assets it was the 72nd largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- January 23, 1987
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Worcester Cnty Inst for, Worcester, MA
- Total assets
- $60,731,000
- Total deposits
- $55,881,000
- Estimated cost to the FDIC
- $18,654,338 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 2609
Other bank failures in Massachusetts, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 |
All bank failures in 1987 · All bank failures in Massachusetts · 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.