The Graveyard › Banks › 1991
The Merchants Bank and Trust Co
Norwalk, CT · failed February 1, 1991 · FDIC certificate 11272
The Merchants Bank and Trust Co of Norwalk, CT failed on February 1, 1991. It opened in 1824, 167 years before. At its last report before that it held $269.9 million in assets and $269.0 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1988, it held $336.9 million. The FDIC estimates that the Bank Insurance Fund lost $87.5 million on it.
1984-031990-12
Assets at the end$269.9 millionlast report before February 1, 1991
Deposits at the end$269.0 million
Estimated loss to the fund$87.5 millionBIF
Largest in the quarterly reports$336.9 millionDecember 31, 1988
Equity to assets-3.1%December 31, 1990
Loans not being repaid21.4%noncurrent, December 31, 1990
Return on assets-5.86%a year's rate, December 31, 1990
Staff126full time, December 31, 1990
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.