Bank Failure
The Brooklyn Savings Bank
BankRegReports is independent of The Brooklyn Savings Bank and never asks for online banking logins or passwords.
Closed October 19, 1990 · Danielson, CT · FDIC Cert #18236.
- Closing date
- October 19, 1990
- Headquarters
- Danielson, CT
- FDIC Certificate
- 18236
- Total assets at closing
- $130.9M
- Total deposits at closing
- $93.8M
- Estimated loss to the insurance fund
- $30.8M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Willimantic Savings Institu
Context
On October 19, 1990, regulators closed The Brooklyn Savings Bank, headquartered in Danielson, CT. At closing, the institution held approximately $130.9M in assets and $93.8M in deposits. The FDIC record names Willimantic Savings Institu as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $30.8M.
By assets at closing this is the 1037th largest of the 3,526 bank failures in the FDIC record, and the 132nd of 381 in 1990. 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 Brooklyn Savings Bank fail?
The Brooklyn Savings Bank was closed by regulators on October 19, 1990.
Who acquired The Brooklyn Savings Bank?
The FDIC record names Willimantic Savings Institu as the acquiring institution in the resolution of The Brooklyn Savings Bank.
How big was The Brooklyn Savings Bank when it failed?
The Brooklyn Savings Bank had approximately $130.9M in total assets and $93.8M in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
Explore: all failures · CT bank events · 1990 events · events hub