Bank Failure
The Bank of Hartford
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Closed June 10, 1994 · Hartford, CT · FDIC Cert #26909.
- Closing date
- June 10, 1994
- Headquarters
- Hartford, CT
- FDIC Certificate
- 26909
- Total assets at closing
- $321.5M
- Total deposits at closing
- $276.0M
- Estimated loss to the insurance fund
- $13.8M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Eagle Federal Savings Ba
Context
On June 10, 1994, regulators closed The Bank of Hartford, headquartered in Hartford, CT. At closing, the institution held approximately $321.5M in assets and $276.0M in deposits. The FDIC record names Eagle Federal Savings Ba as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $13.8M.
By assets at closing this is the 529th largest of the 3,526 bank failures in the FDIC record, and the 1st of 15 in 1994. 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 The Bank of Hartford fail?
The Bank of Hartford was closed by regulators on June 10, 1994.
Who acquired The Bank of Hartford?
The FDIC record names Eagle Federal Savings Ba as the acquiring institution in the resolution of The Bank of Hartford.
How big was The Bank of Hartford when it failed?
The Bank of Hartford had approximately $321.5M in total assets and $276.0M in deposits at the time of failure.
Other failures in 1994
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1994 | Cornerstone Bank FSB | $44.3M |
| Oct 21, 1994 | Ludlow Savings Bank | $222.7M |
| Aug 26, 1994 | Capital Bank | $76.9M |
| Aug 12, 1994 | Bank of Newport | $167.8M |
| Jul 29, 1994 | Commerce Bank | $142.3M |
| Jul 29, 1994 | Western Community Bank | $54.0M |
| Jul 15, 1994 | Bank of San Pedro | $132.6M |
| Jul 8, 1994 | Pioneer Bank | $133.2M |
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