Bank failure · CT

Summit National Bank (Torrington, CT) — failed April 3, 1992

Summit National Bank of Torrington, Connecticut was closed on April 3, 1992 and resolved through a insured deposit transfer. American Bank of Connect (CT) took over its insured deposits. At failure it held $91.4M in assets and $89.8M in deposits. The FDIC's estimated loss on the failure is $22.8M (24.9% of assets).