Data / Bank failures / 1989 / Community Federal Savings Assoc.
Community Federal Savings Assoc., Bridgeport, CT: failed December 7, 1989
Community Federal Savings Assoc. in Bridgeport, Connecticut, failed on December 7, 1989. Union Trust Co. of Stamford, CT, took over its deposits. It held $58.3 million in assets and $50.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.8 million (8.3% of its assets). By assets it was the 298th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- December 7, 1989
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Union Trust Co., Stamford, CT
- Total assets
- $58,270,000
- Total deposits
- $50,333,000
- Estimated cost to the FDIC
- $4,841,849 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 31714
Other bank failures in Connecticut, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Bank of East Hartford | East Hartford | December 13, 1991 | $36.6 million | $38.4 million | $12.9 million | Bank of South Windsor |
| The Bank Mart | Bridgeport | December 13, 1991 | $578.2 million | $486.8 million | $93.9 million | Gateway Bank |
| Saybrook Bank and Trust Company | Old Saybrook | December 6, 1991 | $77.3 million | $78.4 million | $18.7 million | The New Haven Savings Bank |
| Connecticut Savings Bank | New Haven | November 14, 1991 | $1.04 billion | $897.7 million | $203.5 million | Centerbank |
| Connecticut Valley Bank | Cromwell | October 18, 1991 | $28.4 million | $27.9 million | $8.6 million | Midconn Bank |
| Central Bank | Meriden | October 18, 1991 | $654.7 million | $627.9 million | $242.1 million | Centerbank |
| Harbor National Bank of Connecticut | Branford | October 3, 1991 | $22.9 million | $22.8 million | $1.7 million | The New Haven Savings Bank |
| Suffield Bank | Suffield | September 6, 1991 | $294.8 million | $257 million | $83.6 million | First Federal Bank, FSB |
All bank failures in 1989 · All bank failures in Connecticut · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.