Bank of New England Corp. (extinct)

Bank of New England Corp. (extinct)

Bank of New England Corp. (extinct)

Overview
Headquarters

6 Beacon Street,Boston, MA

Type of Company

Private

Industries

Holding Companies

Company Description

The Bank of New England Corporation was a regional banking institution based in Boston, Massachusetts, which was seized by the Federal Deposit Insurance Corporation (FDIC) in 1991 as a result of heavy losses in its loan portfolio and was placed into Chapter 7 liquidation. At the time, it was the 33rd largest bank in the United States, and its federal seizure bailout was the second largest on record. At its peak, it had been the 18th largest bank and had over 470 branch offices.

In The News
Tampa Bay Times
January 16, 2020
Friday's Markets
Tampa Bay Times
January 15, 2020
U.S. takes over Bank of New England
Tampa Bay Times
January 15, 2020
Ailing bank's chief blames old regime
Tampa Bay Times
January 15, 2020
Bank of New England faces insolvency
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Of Counsel at Sullivan & Cromwell LLP

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