Bank failure · CT

Coastal FSB (New London, CT) — failed June 19, 1992

Coastal FSB of New London, Connecticut was closed on June 19, 1992 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $238.2M in assets and $224.5M in deposits. The FDIC's estimated loss on the failure is $5.9M (2.5% of assets).