Data / Bank failures / 1995 / Founders Bank
Founders Bank, New Haven, CT: failed July 28, 1995
Founders Bank in New Haven, Connecticut, failed on July 28, 1995. Centerbank of Waterbury, CT, took over its deposits. It held $77.4 million in assets and $77.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $10.4 million (13.4% of its assets). By assets it was the 5th largest of 8 banks closed or assisted in 1995.
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The FDIC's record
- Closed
- July 28, 1995
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- Centerbank, Waterbury, CT
- Total assets
- $77,364,000
- Total deposits
- $77,362,000
- Estimated cost to the FDIC
- $10,374,005 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 26187
Other bank failures in Connecticut, 1993 to 1997
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Fairfield First Bank & Trust Co | Southport | July 12, 1996 | $57.3 million | $57.3 million | $5.7 million | Norwalk Savings Society |
| 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 |
Other failed banks Centerbank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Connecticut Savings Bank | New Haven | CT | November 14, 1991 | $1.04 billion | $897.7 million | $203.5 million | Centerbank |
| Central Bank | Meriden | CT | October 18, 1991 | $654.7 million | $627.9 million | $242.1 million | Centerbank |
All bank failures in 1995 · All bank failures in Connecticut · Every failed bank Centerbank 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.