NEW ENGLAND BANKS ALL HAVING PROBLEMS TO SOME DEGREE.(Business)

Albany Times Union (Albany, NY) | January 9, 1991 | Copyright

Byline: Associated Press

Almost no banks are immune from the regional real estate slump that destroyed Bank of New England, but some are better prepared than others to weather the damage, analysts said Tuesday.

When federal regulators seized Bank of New England last weekend, bank officials and experts roundly pointed to the company's massive portfolio of real estate loans as its curse.

By the time the government stepped in to stop the bleeding, the bank estimated its problem assets had topped $3 billion.

Yet while Bank of New England was ...

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