Bank failure · CT

Saybrook Bank and Trust Company (Old Saybrook, CT) — failed December 6, 1991

Saybrook Bank and Trust Company of Old Saybrook, Connecticut was closed on December 6, 1991 and resolved through a purchase and assumption. The New Haven Savings Bank (CT) took over its insured deposits. At failure it held $77.3M in assets and $78.4M in deposits. The FDIC's estimated loss on the failure is $18.7M (24.3% of assets).