Bank failure · CT

Fairfield First Bank & Trust Co (Southport, CT) — failed July 12, 1996

Fairfield First Bank & Trust Co of Southport, Connecticut was closed on July 12, 1996 and resolved through a purchase and assumption. Norwalk Savings Society (CT) took over its insured deposits. At failure it held $57.3M in assets and $57.3M in deposits. The FDIC's estimated loss on the failure is $5.7M (9.9% of assets).