Bank failure · CT

Mechanics and Farmers Savings Bank (Bridgeport, CT) — failed August 9, 1991

Mechanics and Farmers Savings Bank of Bridgeport, Connecticut was closed on August 9, 1991 and resolved through a purchase and assumption. Chase Manhattan Bank of Con (CT) took over its insured deposits. At failure it held $1.1B in assets and $903.7M in deposits. The FDIC's estimated loss on the failure is $324.6M (29.9% of assets).