Failed Bank List

Closed Sunday, January 6, 1991 · Hartford, Hartford County, Connecticut

The Connecticut Bank and Trust Company, National Association

By total assets The Connecticut Bank and Trust Company, National Association is the 27th-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. No failed bank in Connecticut was larger, of 47 on record there since 1934. In 1991 regulators closed 20 banks in Connecticut; this was the first.

On the books, 1984 to 1990

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$3B$6B$9B$12B198519861987198819891990Closed
Total assets peaked at $10.4 billion in the second quarter of 1989 and were 31% lower at the final report. Equity capital went from 4.8% of assets in the first quarter of 1984 to 1.9% at the last report. By then 14% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $355 million, was booked in 1989.
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$400M−$400M1984: $51.1 million19844.7%1985: $65.4 million19854.8%1986: $73.5 million19864.9%1987: $80.0 million19875.8%1988: $90.6 million19885.9%1989: −$355 million19891.9%1990: −$105 million19901.9%

Size against the other 1991 failures

Total assets of the 268 banks that failed in 1991, log scale$1M$10M$100M$1B$10B$100B
Total assets of each 1991 failure, log scale; The Connecticut Bank and Trust Company in red.

By assets it ranked fifth of the 268 failures in 1991. Ranked by estimated loss, it is 244th of 2,944 failures since 1934. In the size ranking of that year, just above it was Great American Bank, a Federal Savings Bank of San Diego, California ($9.5 billion, loss 10% of assets); just below, Sunbelt Savings, FSB of Irving, Texas ($6.0 billion, loss under 0.1% of assets). Every 1991 failure in the explorer.

Two other banks closed that day; the largest was Bank of New England, National Association of Boston, Massachusetts, at $13.4 billion.

Failures in Connecticut

The previous failure there was The Brooklyn Savings Bank of Danielson, on October 19, 1990. The next was Community National Bank of Glastonbury, on January 11, 1991. Hartford County has 11 failed banks on FDIC record since 1934. Closest in time: Financial Federal Savings Bank (1990), Community National Bank (1991), Connecticut Savings and Loan Association (1991), The Landmark Bank (1991), Enfield National Bank (1991).

Bank failures in Connecticut per year, 1980 to 2026051015201989: 31990: 31991: 201992: 111993: 11994: 21995: 11996: 12002: 12013: 119801990200020102020
Per year since 1980, 1991 in red. Every Connecticut failure

FDIC certificate 2545 · loss estimate as of July 31, 2026 · How to read this page