The Graveyard › Banks › 1991
Mechanics and Farmers Savings Bank
Bridgeport, CT · failed August 9, 1991 · FDIC certificate 18256
Mechanics and Farmers Savings Bank of Bridgeport, CT failed on August 9, 1991. It opened on May 1, 1871, 120 years before. At its last report before that it held $1.1 billion in assets and $903.7 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1988, it held $1.4 billion. The FDIC estimates that the Bank Insurance Fund lost $324.6 million on it.
1984-031991-06
Assets at the end$1.1 billionlast report before August 9, 1991
Deposits at the end$903.7 million
Estimated loss to the fund$324.6 millionBIF
Largest in the quarterly reports$1.4 billionSeptember 30, 1988
Equity to assets-9.6%June 30, 1991
Loans not being repaid22.2%noncurrent, June 30, 1991
Return on assets-2.69%a year's rate, June 30, 1991
Staff322full time, June 30, 1991
Also ended in 1991
- Bank of New England, National Association · Boston, MA · $13.4 billion in assets
- Southeast Bank, National Association · Miami, FL · $11.0 billion in assets
- Goldome · Buffalo, NY · $9.9 billion in assets
- Great American Fsa · San Diego, CA · $9.5 billion in assets
- The Connecticut Bank & Trust Co · Hartford, CT · $7.2 billion in assets
- Sunbelt Savings · Irving, TX · $6.0 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.