Data / Bank failures / 1992 / First Constitution Bank
First Constitution Bank, New Haven, CT: failed October 2, 1992
First Constitution Bank in New Haven, Connecticut, failed on October 2, 1992. First Federal Bank A FSB of Waterbury, CT, took over its deposits. It held $1.57 billion in assets and $1.35 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $125.6 million (8% of its assets). By assets it was the 15th largest of 181 banks closed or assisted in 1992.
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The FDIC's record
- Closed
- October 2, 1992
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Federal Bank A FSB, Waterbury, CT
- Total assets
- $1,571,240,000
- Total deposits
- $1,350,530,000
- Estimated cost to the FDIC
- $125,591,572 (estimate as of July 31, 2026)
- Charter
- Savings institution
- Insurance fund
- BIF
- FDIC certificate
- 27160
Other bank failures in Connecticut, 1990 to 1994
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 |
| 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 |
| 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 |
Other failed banks First Federal Bank A FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| United Sa of Central Indiana (assistance) | Tipton | IN | September 1, 1988 | $57.3 million | $65.1 million | $6.9 million | First Federal Bank A FSB |
All bank failures in 1992 · All bank failures in Connecticut · Every failed bank First Federal Bank A FSB 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.