NEW ENGLAND SAVINGS BANK Failed 1993
What happened
NEW ENGLAND SAVINGS BANK of NEW LONDON, CT was closed on 1993-05-21. The FDIC was named receiver.
Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors
Deposits were transferred to CITIZENS SAVINGS BANK (PROVIDENCE, RI). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3455
- FDIC Certificate
- 18257
- FDIC FIN
- 4580
- Bank name
- NEW ENGLAND SAVINGS BANK
- Location
- NEW LONDON, CT
- Failure date
- 1993-05-21
- FDIC resolution date
- 1993-05-21
- Charter type
- SI
- Resolution type
- Payout / Insured deposits — FDIC paid insured deposits directly to depositors
- FDIC DIF cost (est.)
- $117M
- Deposits at failure
- $721M
- Assets at failure
- $915M
- Acquiring bank
- CITIZENS SAVINGS BANK (PROVIDENCE, RI)
Other banks CITIZENS SAVINGS BANK acquired in FDIC resolutions