Data / Bank failures / 1991 / Mechanics and Farmers Savings Bank
Mechanics and Farmers Savings Bank, Bridgeport, CT: failed August 9, 1991
Mechanics and Farmers Savings Bank in Bridgeport, Connecticut, failed on August 9, 1991. Chase Manhattan Bank of Con of Bridgeport, CT, took over its deposits. It held $1.08 billion in assets and $903.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $324.6 million (29.9% of its assets). By assets it was the 29th largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- August 9, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Chase Manhattan Bank of Con, Bridgeport, CT
- Total assets
- $1,083,920,000
- Total deposits
- $903,692,000
- Estimated cost to the FDIC
- $324,571,490 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- BIF
- FDIC certificate
- 18256
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 |
Other failed banks Chase Manhattan Bank of Con took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Citytrust | Bridgeport | CT | August 9, 1991 | $1.92 billion | $1.81 billion | $511.1 million | Chase Manhattan Bank of Con |
All bank failures in 1991 · All bank failures in Connecticut · Every failed bank Chase Manhattan Bank of Con 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.