BRIDGEPORT - The Community's Bank in Bridgeport was shut down yesterday by state and federal regulators, much to the shock of its customers.
Officials made the decision to shut it down because its finances were not in order, and they could not come up with a solution to keep the bank open.
Federal officials arrived in Connecticut yesterday to close the doors. They say they tried to sell the bank, but could not find a suitable buyer.
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The Community's Bank had about $26.3 million in assets and $25.7 million in deposits as of June 30, federal officials say. The FDIC says it will mail checks directly to depositors for the amount in their accounts that's insured. The FDIC insures deposits up to $250,000 per depositor.
Checks for the balance of those accounts will be mailed tomorrow and customers should receive them next week.
Some bank customers tell News 12 Connecticut that they were shocked this morning to find out that their bank was closed. Some say they attempted to use their debit cards for transactions, but they could not be processed.
The ATM at the bank is no longer in operation. Instead, there's a note attached explaining the circumstances.