Bank failure · CT

First Constitution Bank (New Haven, CT) — failed October 2, 1992

First Constitution Bank of New Haven, Connecticut was closed on October 2, 1992 and resolved through a purchase and assumption. First Federal Bank a FSB (CT) took over its insured deposits. At failure it held $1.6B in assets and $1.4B in deposits. The FDIC's estimated loss on the failure is $125.6M (8.0% of assets).