Bank Failure
Dartmouth Bank
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Closed October 10, 1991 · Manchester, NH · FDIC Cert #26700.
- Closing date
- October 10, 1991
- Headquarters
- Manchester, NH
- FDIC Certificate
- 26700
- Total assets at closing
- $877.2M
- Total deposits at closing
- $835.3M
- Estimated loss to the insurance fund
- $220.6M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- New Dartmouth Bank
Context
On October 10, 1991, regulators closed Dartmouth Bank, headquartered in Manchester, NH. At closing, the institution held approximately $877.2M in assets and $835.3M in deposits. The FDIC record names New Dartmouth Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $220.6M.
By assets at closing this is the 244th largest of the 3,526 bank failures in the FDIC record, and the 38th 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 Dartmouth Bank fail?
Dartmouth Bank was closed by regulators on October 10, 1991.
Who acquired Dartmouth Bank?
The FDIC record names New Dartmouth Bank as the acquiring institution in the resolution of Dartmouth Bank.
How big was Dartmouth Bank when it failed?
Dartmouth Bank had approximately $877.2M in total assets and $835.3M 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 |
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