Bank Failure
SECURITY SAVINGS & LOAN
Closed April 12, 1991 · WATERBURY , CT · FDIC Cert #32054 .
- Closing date
- April 12, 1991
- Headquarters
- WATERBURY , CT
- FDIC Certificate
- 32054
- Total assets at closing
- $143.2M
- Total deposits at closing
- $129.4M
- Estimated loss to DIF
- $50.0M
- Resolution type
- other
- Acquirer
- AMERICAN BANK OF CT (FDIC Cert #2192)
Context
On April 12, 1991, regulators closed SECURITY SAVINGS & LOAN , headquartered in WATERBURY , CT . At closing, the institution held approximately $143.2M in assets and $129.4M in deposits . The FDIC arranged a resolution under which AMERICAN BANK OF CT acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $50.0M.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1991
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1991-12-20 | NORTH RIDGE BANK | OAKLAND PARK , FL | $94.3M |
| 1991-12-13 | INVESTORS FSB | RICHMOND , VA | $2.06B |
| 1991-12-13 | THE BANK MART | BRIDGEPORT , CT | $578.2M |
| 1991-12-13 | MERCHANTS NATIONAL BANK | LEOMINSTER , MA | $153.6M |
| 1991-12-13 | BANK OF EAST HARTFORD | EAST HARTFORD , CT | $36.6M |
| 1991-12-13 | FEDERAL FINANCE & MORTGAGE, LTD | HONOLULU , HI | $7.7M |
| 1991-12-12 | GRANITE CO-OPERATIVE BANK | QUINCY , MA | $103.8M |
| 1991-12-06 | SAYBROOK BANK AND TRUST COMPANY | OLD SAYBROOK , CT | $77.3M |
Explore: all failures · CT bank events · 1991 events · events hub