The Graveyard › Banks › 1993
New England Savings Bank
New London, CT · failed May 21, 1993 · FDIC certificate 18257
New England Savings Bank of New London, CT failed on May 21, 1993. It opened on May 1, 1827, 166 years before. At its last report before that it held $914.9 million in assets and $720.5 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1990, it held $1.4 billion. The FDIC estimates that the Bank Insurance Fund lost $117.0 million on it.
1984-031993-03
Assets at the end$914.9 millionlast report before May 21, 1993
Deposits at the end$720.5 million
Estimated loss to the fund$117.0 millionBIF
Largest in the quarterly reports$1.4 billionMarch 31, 1990
Equity to assets0.2%March 31, 1993
Loans not being repaid9.6%noncurrent, March 31, 1993
Return on assets0.02%a year's rate, March 31, 1993
Staff347full time, March 31, 1993
Also ended in 1993
- Western FSB · Marina Del Ray, CA · $3.8 billion in assets
- Old Stone SB · Providence, RI · $1.8 billion in assets
- First National Bank of Vermont · Bradford, VT · $295.8 million in assets
- The Bank of San Diego · San Diego, CA · $294.3 million in assets
- Jefferson National Bank · Watertown, NY · $256.0 million in assets
- Capital Bank of California · Los Angeles, CA · $227.7 million 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.