Failed Bank List

Closed Friday, September 13, 2013 · Bridgeport, Fairfield County, Connecticut

The Community's Bank

No bank in Connecticut had failed for eleven years, since Connecticut Bank of Commerce closed in 2002. No bank took over The Community's Bank's deposits: the FDIC paid insured depositors directly. Its assets had shrunk 52% from their peak in the fourth quarter of 2008 by the last report before closing.

On the books, 2005 to 2013

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$15M$30M$45M$60M2006200720082009201020112012Closed
Total assets peaked at $55.4 million. Equity capital went from 21% of assets in the third quarter of 2005 to below zero at the last report. It reported a net loss in eight of its final nine reporting years. The deepest annual loss, $1.8 million, was booked in 2012.
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$2M−$2M2005: −$83 thousand200518%2006: −$339 thousand200618%2007: −$610 thousand200715%2008: −$488 thousand20088.4%2009: $138 thousand20099.5%2010: −$475 thousand20109.7%2011: −$610 thousand20119.7%2012: −$1.8 million20125.7%2013: −$1.4 million2013*neg.
* 2013: January to June only, the last report before closing.

Size against the other 2013 failures

Total assets of the 24 banks that failed in 2013, log scale$10M$100M$1B$10B
Total assets of each 2013 failure, log scale; The Community's Bank in red.

By assets it ranked 21st of the 24 failures in 2013. Within Connecticut it ranks 39th by size of the 47 failures recorded since 1934. Across the failures of 2013, the median estimated loss came to 24% of assets. In the size ranking of that year, just above it was Central Arizona Bank of Scottsdale, Arizona ($31.6 million, loss 17% of assets); just below, Bank of Jackson County of Graceville, Florida ($24.7 million, loss 24% of assets). Every 2013 failure in the explorer.

The only other bank closed that day was First National Bank also operating as The National Bank of El Paso of Edinburg, Texas.

Failures in Connecticut

No bank in Connecticut has failed since. Fairfield County has 16 failed banks on FDIC record since 1934. Closest in time: The Norwalk Bank (1992), Brookfield Bank (1992), Greenwood Bank of Bethel, Inc. (1992), Fairfield First Bank & Trust Company (1996), Connecticut Bank of Commerce (2002).

Bank failures in Connecticut per year, 1980 to 2026051015201989: 31990: 31991: 201992: 111993: 11994: 21995: 11996: 12002: 12013: 119801990200020102020
Per year since 1980, 2013 in red. Every Connecticut failure

FDIC certificate 57041 · loss estimate as of July 31, 2026 · How to read this page