$369M
total assets, December 31, 1991
The Central Savings Bank was a state savings bank in Lowell, MA. It failed on Feb 14, 1992, and Massbank For Savings took over its deposits. At its last report it held $369.1 million in assets.
Updated Oct 11, 2026 · numbers as of December 31, 1991
This bank failed
- Failed on
- Feb 14, 1992
- Assets
- $369M
- Deposits
- $354M
- Estimated cost
- $26.7M
- Deposits went to
- Massbank For Savings, Reading, MA
Total assets
$369M
-11.2% in a year · -4.2% in a quarter
Deposits
$354M
-7.8% in a year · -5.2% in a quarter
Loans
$270M
-12.7% in a year · -5.2% in a quarter
Profit so far
-$15.4M
Jan 1 to Dec 31, 1991
Capital ratio
-2.21%
-3.88 pts in a year
Return on assets
-3.90%
-0.91 pts in a year
Facts
- Type
- State savings bank
- Head office
- 50 Central Street, Lowell, MA, 01853
- County
- Middlesex
- Established
- Mar 3, 1871
- Failed
- Feb 14, 1992
- Employees
- 137
- Id
- b90226
Quarter by quarter
December 31, 1985 to December 31, 1991
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is The Central Savings Bank?
$369.1 million in total assets and $354.2 million in deposits as of December 31, 1991, with assets down 11.2% from a year before. Its loans were $269.8 million.
Is The Central Savings Bank profitable?
No: it lost $15.4 million from January 1 to December 31, 1991. Its return on assets was -3.90% a year; about 1% is typical.
When did The Central Savings Bank fail?
Feb 14, 1992. Massbank For Savings of Reading, MA took over its deposits. The estimated cost of the failure was $26.7 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.