# NEW ENGLAND SAVINGS BANK

> **Failed bank** · NEW LONDON, CT · failed 1993-05-21 · SI · FDIC cost $117M

## What happened

NEW ENGLAND SAVINGS BANK of NEW LONDON, CT was closed by state regulators 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
- **Estimated FDIC DIF cost:** $117M
- **Deposits at failure:** $721M
- **Assets at failure:** $915M
- **Acquiring bank:** CITIZENS SAVINGS BANK (PROVIDENCE, RI)

## Other banks CITIZENS SAVINGS BANK has acquired in FDIC resolutions

- FIRST NATIONAL BANK OF TIPTON (TIPTON, IA) — failed 1986-02-14 — /failed-bank/1145
- COMMERCIAL STATE BANK (AFTON, IA) — failed 1985-03-08 — /failed-bank/966

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=NEW%20ENGLAND%20SAVINGS%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, NEW ENGLAND SAVINGS BANK (FDIC ID 3455), failed 1993-05-21. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/3455.

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