SAYBROOK BANK AND TRUST COMPANY Failed 1991
What happened
SAYBROOK BANK AND TRUST COMPANY of OLD SAYBROOK, CT was closed on 1991-12-06. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to THE NEW HAVEN SAVINGS BANK (NEW HAVEN, CT). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3244
- FDIC Certificate
- 25128
- FDIC FIN
- 4429
- Bank name
- SAYBROOK BANK AND TRUST COMPANY
- Location
- OLD SAYBROOK, CT
- Failure date
- 1991-12-06
- FDIC resolution date
- 1991-12-06
- 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.)
- $19M
- Deposits at failure
- $78M
- Assets at failure
- $77M
- Acquiring bank
- THE NEW HAVEN SAVINGS BANK (NEW HAVEN, CT)
Other banks THE NEW HAVEN SAVINGS BANK acquired in FDIC resolutions