2013 FDIC Insured Failed Banks
September 13, 2013: The
Community’s Bank, Bridgeport, CT was closed by the Connecticut Department
of Banking. The Federal Deposit Insurance
Corporation was named receiver.
The FDIC was unable to find another financial institution to take over the banking operations of The Community's Bank. The FDIC therefore pays depositors of The Community's Bank directly for the amount of their insured money.
As a convenience to depositors, the FDIC made arrangements with People's United Bank, Bridgeport, CT, to accept the failed bank's direct deposits from the federal government, such as Social Security and Veterans' payments for 90 days. The two People's United Bank locations designated to service The Community's Bank's customers receiving federal government direct deposit payments are: 4531 Main Street, Bridgeport, CT; and 58 Boston Avenue, Bridgeport, CT.
Customers with questions about the transaction, including those with accounts in excess of $250,000, should call the FDIC toll-free at 1-800-430-6165
Established in 2001 as The Community's Bank
Depositors must establish contact or the successor bank or the FDIC to
reclaim their deposits. ►
Not every depositor in a failed bank will receive notification from the
FDIC, and there are time limits on claims of FDIC-insured bank accounts,
CDs and safe deposit boxes. By law, accounts which go unclaimed for an
extended period may be time barred, and safe deposit boxes can be drilled
and the contents sold at auction. ► Additionally, accounts transferred to
successor institutions may have lower interest rates and can lose
insurance coverage. ► It is important to understand
you may have an account at a failed institution and not know it,
either because you were a depositor at a bank acquired by an institution
that subsequently failed, or if you or a deceased family member are the
beneficial owner of a brokered fiduciary account.
► It is important to understand you may have an account at a failed institution and not know it, either because you were a depositor at a bank acquired by an institution that subsequently failed, or if you or a deceased family member are the beneficial owner of a brokered fiduciary account.
► For assistance tracing and reclaiming a lost bank account, certificate of deposit (CD) or safe deposit box go to: Unclaimed Account Search
1087 Broad St
Bridgeport, CT 06604
The Community's Bank
|Cost to FDIC: $8 million|