New England Savings Bank
New London, CT · Owner: Nesb Corp
$915M
total assets, March 31, 1993
$915M
total assets, March 31, 1993
New England Savings Bank was a state savings bank in New London, CT, owned by Nesb Corp. It failed on May 21, 1993, and Citizens Savings Bank took over its deposits. At its last report it held $914.9 million in assets.
Updated Oct 11, 2026 · numbers as of March 31, 1993
This bank failed
- Failed on
- May 21, 1993
- Assets
- $915M
- Deposits
- $721M
- Estimated cost
- $117M
- Deposits went to
- Citizens Savings Bank, Providence, RI
Total assets
$915M
-25.5% in a year · -18.0% in a quarter
Deposits
$721M
-14.4% in a year · -6.7% in a quarter
Loans
$639M
-19.9% in a year · +0.5% in a quarter
Profit so far
$42K
Jan 1 to Mar 31, 1993 · -98.5% in a year
Capital ratio
0.22%
-3.40 pts in a year
Return on assets
0.02%
-0.92 pts in a year
Facts
- Type
- State savings bank
- Head office
- 63 Eugene O'Neill Drive, New London, CT, 06320
- County
- New London
- Holding company
- Nesb Corp
- Established
- May 1, 1827
- Failed
- May 21, 1993
- Employees
- 347
- Id
- b18257
Quarter by quarter
March 31, 1984 to March 31, 1993
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is New England Savings Bank?
$914.9 million in total assets and $720.5 million in deposits as of March 31, 1993, with assets down 25.5% from a year before. Its loans were $638.9 million.
Is New England Savings Bank profitable?
Yes: it earned $42,000 from January 1 to March 31, 1993 (down 98.5% from the same months a year before). Its return on assets was 0.02% a year; about 1% is typical.
Who owns New England Savings Bank?
New England Savings Bank is owned by Nesb Corp, its holding company.
When did New England Savings Bank fail?
May 21, 1993. Citizens Savings Bank of Providence, RI took over its deposits. The estimated cost of the failure was $117.0 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.