Bank failure · CT

Founders Bank (New Haven, CT) — failed July 28, 1995

Founders Bank of New Haven, Connecticut was closed on July 28, 1995 and resolved through a purchase and assumption (insured deposits). Centerbank (CT) took over its insured deposits. At failure it held $77.4M in assets and $77.4M in deposits. The FDIC's estimated loss on the failure is $10.4M (13.4% of assets).