Bank Failure
Danburry Savings & Loan
BankRegReports is independent of Danburry Savings & Loan and never asks for online banking logins or passwords.
Closed July 12, 1991 · Danbury, CT · FDIC Cert #27825.
- Closing date
- July 12, 1991
- Headquarters
- Danbury, CT
- FDIC Certificate
- 27825
- Total assets at closing
- $270.2M
- Total deposits at closing
- $184.1M
- Estimated loss to the insurance fund
- $24.7M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bristol FSB
Context
On July 12, 1991, regulators closed Danburry Savings & Loan, headquartered in Danbury, CT. At closing, the institution held approximately $270.2M in assets and $184.1M in deposits. The FDIC record names Bristol FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $24.7M.
By assets at closing this is the 601st largest of the 3,526 bank failures in the FDIC record, and the 73rd of 268 in 1991. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Danburry Savings & Loan fail?
Danburry Savings & Loan was closed by regulators on July 12, 1991.
Who acquired Danburry Savings & Loan?
The FDIC record names Bristol FSB as the acquiring institution in the resolution of Danburry Savings & Loan.
How big was Danburry Savings & Loan when it failed?
Danburry Savings & Loan had approximately $270.2M in total assets and $184.1M in deposits at the time of failure.
Other failures in 1991
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1991 | North Ridge Bank | $94.3M |
| Dec 13, 1991 | Investors FSB | $2.06B |
| Dec 13, 1991 | The Bank Mart | $578.2M |
| Dec 13, 1991 | Merchants National Bank | $153.6M |
| Dec 13, 1991 | Bank of East Hartford | $36.6M |
| Dec 13, 1991 | Federal Finance & Mortgage, LTD | $7.7M |
| Dec 12, 1991 | Granite Co-Operative Bank | $103.8M |
| Dec 6, 1991 | Saybrook Bank and Trust Company | $77.3M |
Explore: all failures · CT bank events · 1991 events · events hub