Data / Bank failures / 1996 / Fairfield First Bank & Trust Co
Fairfield First Bank & Trust Co, Southport, CT: failed July 12, 1996
Fairfield First Bank & Trust Co in Southport, Connecticut, failed on July 12, 1996. Norwalk Savings Society of Norwalk, CT, took over its deposits. It held $57.3 million in assets and $57.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $5.7 million (9.9% of its assets). By assets it was the 2nd largest of 6 banks closed or assisted in 1996.
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The FDIC's record
- Closed
- July 12, 1996
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Norwalk Savings Society, Norwalk, CT
- Total assets
- $57,267,000
- Total deposits
- $57,329,000
- Estimated cost to the FDIC
- $5,662,906 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 26431
Other bank failures in Connecticut, 1994 to 1998
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Founders Bank | New Haven | July 28, 1995 | $77.4 million | $77.4 million | $10.4 million | Centerbank |
| The Meriden Trust and Safe Deposit | Meriden | July 7, 1994 | $3.2 million | People's Savings Bank & Tru | ||
| The Bank of Hartford | Hartford | June 10, 1994 | $321.5 million | $276 million | $13.8 million | Eagle Federal Savings Ba |
All bank failures in 1996 · 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.