Bank Failure
The Connecticut Bank & Trust Co
BankRegReports is independent of The Connecticut Bank & Trust Co and never asks for online banking logins or passwords.
Closed January 6, 1991 · Hartford, CT · FDIC Cert #2545.
- Closing date
- January 6, 1991
- Headquarters
- Hartford, CT
- FDIC Certificate
- 2545
- Total assets at closing
- $7.21B
- Total deposits at closing
- $6.86B
- Estimated loss to the insurance fund
- $151.1M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- New Connecticut Bank & Trus
Context
On January 6, 1991, regulators closed The Connecticut Bank & Trust Co, headquartered in Hartford, CT. At closing, the institution held approximately $7.21B in assets and $6.86B in deposits. The FDIC record names New Connecticut Bank & Trus as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $151.1M.
By assets at closing this is the 27th largest of the 3,526 bank failures in the FDIC record, and the 5th 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 The Connecticut Bank & Trust Co fail?
The Connecticut Bank & Trust Co was closed by regulators on January 6, 1991.
Who acquired The Connecticut Bank & Trust Co?
The FDIC record names New Connecticut Bank & Trus as the acquiring institution in the resolution of The Connecticut Bank & Trust Co.
How big was The Connecticut Bank & Trust Co when it failed?
The Connecticut Bank & Trust Co had approximately $7.21B in total assets and $6.86B 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