Data / Bank failures / 2002 / Connecticut Bank of Commerce
Connecticut Bank of Commerce, Stamford, CT: failed June 26, 2002
Connecticut Bank of Commerce in Stamford, Connecticut, failed on June 26, 2002. Hudson United Bank of Mahwah, NJ, took over its deposits. It held $384.2 million in assets and $344.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $53.8 million (14% of its assets). By assets it was the 3rd largest of 11 banks closed or assisted in 2002.
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The FDIC's record
- Closed
- June 26, 2002
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- Hudson United Bank, Mahwah, NJ
- Total assets
- $384,172,000
- Total deposits
- $344,416,000
- Estimated cost to the FDIC
- $53,784,111 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 19183
Other failed banks Hudson United Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Broadway Bank | Paterson | NJ | March 13, 1992 | $400.5 million | $383.3 million | $76.2 million | Hudson United Bank |
| Irving Savings & Loan | Paterson | NJ | January 18, 1991 | $222.5 million | $235.8 million | $25.7 million | Hudson United Bank |
| Pan American National Bank | Union City | NJ | March 18, 1983 | $37.2 million | $36.3 million | $5 million | Hudson United Bank |
All bank failures in 2002 · All bank failures in Connecticut · Every failed bank Hudson United Bank took over · 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.