SUMMIT NATIONAL BANK Failed 1992

What happened

SUMMIT NATIONAL BANK of TORRINGTON, CT was closed on 1992-04-03. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to AMERICAN BANK OF CONNECT (WATERBURY, CT). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3303

FDIC Certificate

26447

FDIC FIN

4471

Bank name

SUMMIT NATIONAL BANK

Location

TORRINGTON, CT

Failure date

1992-04-03

FDIC resolution date

1992-04-03

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$23M

Deposits at failure

$90M

Assets at failure

$91M

Acquiring bank

AMERICAN BANK OF CONNECT (WATERBURY, CT)