Data / Bank failures / 1992 / Summit National Bank
Summit National Bank, Torrington, CT: failed April 3, 1992
Summit National Bank in Torrington, Connecticut, failed on April 3, 1992. American Bank of Connect of Waterbury, CT, took over its deposits. It held $91.4 million in assets and $89.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $22.8 million (24.9% of its assets). By assets it was the 94th largest of 181 banks closed or assisted in 1992.
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The FDIC's record
- Closed
- April 3, 1992
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- American Bank of Connect, Waterbury, CT
- Total assets
- $91,381,000
- Total deposits
- $89,766,000
- Estimated cost to the FDIC
- $22,780,050 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 26447
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 |
| 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 |
All bank failures in 1992 · All bank failures in Connecticut · 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.