Failed Bank List

Closed Friday, February 2, 2001 · Manchester, Hillsborough County, New Hampshire

First Alliance Bank & Trust Co.

No bank in New Hampshire had failed for eight years, since Seacoast Savings Bank closed in 1992. First Alliance Bank & Trust Co. failed four years after it opened in 1997. Its assets had shrunk 49% from their peak in the second quarter of 1998 by the last report before closing.

On the books, 1997 to 2000

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$10M$20M$30M$40M199819992000Closed
Total assets peaked at $34.2 million. Equity capital went from 30% of assets in the second quarter of 1997 to 1.9% at the last report. It lost money in every one of the four reporting years on file before it closed. The deepest annual loss, $2.0 million, was booked in 1997.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end−$2M1997: −$2.0 million199712%1998: −$1.1 million19985.3%1999: −$1.0 million19995.4%2000: −$1.1 million20001.9%

Size against the other 2001 failures

Total assets of the 4 banks that failed in 2001, log scale$1M$10M$100M$1B$10B
Total assets of each 2001 failure, log scale; First Alliance Bank & Trust Co. in red.

It was the third-largest of the 4 bank failures in 2001. Within New Hampshire it ranks 18th by size of the 20 failures recorded since 1934. Across the failures of 2001, the median estimated loss came to 11% of assets. In the size ranking of that year, just above it was Sinclair National Bank of Gravette, Arkansas ($29.8 million, loss 14% of assets); just below, Malta National Bank of Malta, Ohio ($9.1 million, loss 8.5% of assets). Every 2001 failure in the explorer.

Failures in New Hampshire

No bank in New Hampshire has failed since. Hillsborough County has 7 failed banks on FDIC record since 1934. Closest in time: Amoskeag Bank (1991), Dartmouth Bank (1991), BankEast (1991), Numerica Savings Bank, FSB (1991), Nashua Trust Company (1991).

Bank failures in New Hampshire per year, 1980 to 202604812161990: 11991: 141992: 32001: 119801990200020102020
Per year since 1980, 2001 in red. Every New Hampshire failure

FDIC certificate 34264 · loss estimate as of July 31, 2026 · How to read this page