On June 26, 2002, Connecticut Bank of Commerce was closed by the Banking
Commissioner, Connecticut Department of Banking, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. As Receiver, the FDIC is charged with winding up the business affairs of the failed financial institution. This includes the disposition of assets and liabilities of the failed financial institution and payment of dividends to approved creditors in order of priority.
The FDIC, as Receiver, has taken all necessary actions to conclude the affairs of the failed financial institution, made all dividend distributions as required by law and the receivership estate is deemed terminated.
The FDIC has issued a press
release about the institution’s closure. If you represent a media outlet
and would like information about the closure, please contact the FDIC Public
Affairs Office at (202) 898-6993.
All insured deposit accounts were transferred to Hudson United Bank, Mahwah, NJ and were available as usual during regular business hours at the former Connecticut Bank of Commerce offices. On January 31, 2006 Hudson United Bank was acquired by TD Bank, National Association.