Bank failure · CT

Connecticut Bank of Commerce (Stamford, CT) — failed June 26, 2002

Connecticut Bank of Commerce of Stamford, Connecticut was closed on June 26, 2002 and resolved through a purchase and assumption (insured deposits). Hudson United Bank (NJ) took over its insured deposits. At failure it held $384.2M in assets and $344.4M in deposits. The FDIC's estimated loss on the failure is $53.8M (14.0% of assets).