Sentry Federal Savings Bank v. Co-operative Central Bank

This case implicates substantially the same issue presented in Andover Sav. Bank v. Co-operative Cent. Bank, ante 409 (1990), decided today, i.e., claims on the share insurance fund (fund). There is one significant difference which we shall discuss without repeating the procedural and historical background which is the same as the Andover Sav. Bank case.

Unlike the conversion to a Massachusetts chartered savings bank in Andover Sav. Bank, supra, here the plaintiffs *413converted to Federal savings banks which are successors to cooperative banks. As a result, the question implicates a different…