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Parent. Bank of New England Corporation. Subsidiaries. Connecticut Bank & Trust Company; Maine National Bank; Bank of New England Trust Company. The Bank of New England Corporation was a regional banking institution based in Boston, Massachusetts, which was seized by the Federal Deposit Insurance Corporation (FDIC) in 1991 as a result of heavy ...

Company profile page for Bank of New England Corp including stock price, company news, press releases, executives, board members, and contact information.

The Bank of New England is America's first interstate regional bank holding company. It was created in 1985 by the merger of the Bank of New England Corporation and CBT Corporation, another bank holding company, from Connecticut. BNE owns nine banks (with 470 branches) and 17 other companies that provide various financial services, chiefly ...

At the time, it was the third-largest bank failure in U.S. history. The $22 billion-asset bank ended 1989 with $1.1 billion in losses. When BNE announced that it expected a $450 million fourth-quarter 1990 loss, depositors withdrew $1 billion from the bank on Jan. 4, 1991.