Failed Bank Information
Information for Connecticut Bank of Commerce, Stamford, CT
- Introduction
- Press Release
- Acquiring Financial Institution
- Priority of Claims
- Dividend Information
- Receivership Termination
I. Introduction
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.
II. Press Release
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.
Additional Press Release: Hudson United Bank will assume the insured deposits of Connecticut Bank of Commerce
III. Acquiring Financial Institution
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.
You may contact TD Bank, N.A. at:
TD Bank, N.A.
2035 Limestone Road
Wilmington, DE 19808
Phone: (302) 478-9404
IV. Priority of Claims
The dividend process is complete. In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:
- Depositors
- General Unsecured Creditors
- Subordinated Debt
- Stockholders
V. Dividend Information
Dividend Information on Failed Financial Institutions
VI. Receivership Termination
The FDIC as Receiver for Connecticut Bank of Commerce has taken all actions necessary to terminate the Receivership Estate.
The Receiver published a legal notice of intent to terminate the receivership in the Connecticut Bank of Commerce on September 9, 2011.
The Receiver has made all dividend distributions required by law.
Effective November 23, 2011, the Receivership Estate has been terminated, the Receiver was discharged and the Receivership Estate ceased existence as a legal entity.