The Graveyard › Banks › 1992
First Constitution Bank
New Haven, CT · failed October 2, 1992 · FDIC certificate 27160
First Constitution Bank of New Haven, CT failed on October 2, 1992. It opened in 1934, 58 years before. At its last report before that it held $1.6 billion in assets and $1.4 billion in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1989, it held $2.4 billion. The FDIC estimates that the Bank Insurance Fund lost $125.6 million on it.
1988-031992-06
Assets at the end$1.6 billionlast report before October 2, 1992
Deposits at the end$1.4 billion
Estimated loss to the fund$125.6 millionBIF
Largest in the quarterly reports$2.4 billionJune 30, 1989
Equity to assets1.1%June 30, 1992
Loans not being repaid9.3%noncurrent, June 30, 1992
Return on assets-4.64%a year's rate, June 30, 1992
Staff347full time, June 30, 1992
Also ended in 1992
- Homefed Bank, FA · San Diego, CA · $12.2 billion in assets
- Crossland Savings Bank, FSB · Brooklyn, NY · $7.4 billion in assets
- Carteret FSB · Madison, NJ · $4.8 billion in assets
- Meritor Savings Bank · Philadelphia, PA · $4.1 billion in assets
- Dollar Dry Dock Bank · White Plains, NY · $4.0 billion in assets
- The Howard Savings Bank · Newark, NJ · $3.5 billion in assets
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.