COMMUNITY NATIONAL BANK Failed 1991

What happened

COMMUNITY NATIONAL BANK of GLASTONBURY, CT was closed on 1991-01-11. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to FLEET BANK OF CONNECTICUT (HARTFORD, CT). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2989

FDIC Certificate

26302

FDIC FIN

4312

Bank name

COMMUNITY NATIONAL BANK

Location

GLASTONBURY, CT

Failure date

1991-01-11

FDIC resolution date

1991-01-11

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$27M

Deposits at failure

$87M

Assets at failure

$85M

Acquiring bank

FLEET BANK OF CONNECTICUT (HARTFORD, CT)