THE MERCHANTS BANK AND TRUST CO Failed 1991

NORWALK, CT · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

THE MERCHANTS BANK AND TRUST CO of NORWALK, CT was closed on 1991-02-01. The FDIC was named receiver.

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

Deposits were transferred to UNION TRUST COMPANY (STAMFORD, CT). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3005
FDIC Certificate
11272
FDIC FIN
4319
Bank name
THE MERCHANTS BANK AND TRUST CO
Location
NORWALK, CT
Failure date
1991-02-01
FDIC resolution date
1991-02-01
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$88M
Deposits at failure
$269M
Assets at failure
$270M
Acquiring bank
UNION TRUST COMPANY (STAMFORD, CT)