Data / Bank failures / 1991 / Connecticut Valley Bank
Connecticut Valley Bank, Cromwell, CT: failed October 18, 1991
Connecticut Valley Bank in Cromwell, Connecticut, failed on October 18, 1991. Midconn Bank of Kensington, CT, took over its deposits. It held $28.4 million in assets and $27.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $8.6 million (30.3% of its assets). By assets it was the 215th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- October 18, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Midconn Bank, Kensington, CT
- Total assets
- $28,359,000
- Total deposits
- $27,862,000
- Estimated cost to the FDIC
- $8,597,619 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 27373
Other bank failures in Connecticut, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| New England Savings Bank | New London | May 21, 1993 | $914.9 million | $720.5 million | $117 million | Citizens Savings Bank |
| Burritt Interfinancial Bancorporation | New Britain | December 4, 1992 | $523.9 million | $506 million | $79 million | Derby Savings Bank |
| Greenwood Bank of Bethel, Inc. | Bethel | November 6, 1992 | $33.3 million | $33.2 million | $9.8 million | Union SB of Danbury |
| First Constitution Bank | New Haven | October 2, 1992 | $1.57 billion | $1.35 billion | $125.6 million | First Federal Bank A FSB |
| Vernon Bank | Vernon | June 26, 1992 | $34.3 million | $34.5 million | $3.1 million | Bank of South Windsor |
| Coastal FSB | New London | June 19, 1992 | $238.2 million | $224.5 million | $5.9 million | |
| Brookfield Bank | Brookfield | May 8, 1992 | $60.7 million | $68.7 million | $41.7 million | Bristol Federal Savings |
| The Norwalk Bank | Norwalk | April 24, 1992 | $80.6 million | $77.2 million | $17.4 million | Bank of Darien |
All bank failures in 1991 · All bank failures in Connecticut · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.