Prudential Bank & Trust

Prudential Bank & Trust, originally established as The Prudential Savings Bank, FSB in August 1989, underwent several significant changes throughout its history. In 1989, the institution commenced operations and expanded its presence by acquiring Cartersville Federal Savings Bank of Georgia shortly thereafter. Over the years, it transitioned its organization type to a stock savings bank in May 1990 and enhanced its trust powers to full status in July 1994. The bank relocated its main office multiple times, moving to various locations in Atlanta, Georgia, including a move to Two Concourse Parkway in October 1995 and later to One Ravinia Drive in August 1997. On April 1, 2004, it changed its name to Prudential Bank & Trust, FSB, and acquired Cigna Bank & Trust Company, FSB, along with The Prudential Bank and Trust Company, marking a period of significant growth. The bank's regulatory oversight changed several times, including a transition to the Office of the Comptroller of the Currency in July 2011. On March 31, 2023, Prudential Bank & Trust voluntarily relinquished its FDIC insurance, transitioned its primary federal regulatory agency to state oversight, changed its bank classification to non-FDIC insured thrifts, and ultimately closed voluntarily, liquidating its assets on the same day.

Below is a list of some important events in banks history, including mergers and acquisitions.

1989-08-07Institution established. Original name: The Prudential Savings Bank, Fsb.

1989-08-07Acquired Cartersville Federal Savings Bank of Georgia in Cartersville, GA.

1990-05-01Changed Organization Type to Stock Savings Bank.

1994-07-19Changed Trust Powers to Full.

1995-10-27Main Office moved to Two Concourse Parkway, Suite 400, Atlanta, GA 30328.

1997-08-01Main Office moved to One Ravinia Drive, Suite 1000, Atlanta, GA 30346.

2004-04-01Acquired The Prudential Bank and Trust Company in Atlanta, GA.

2004-04-01Main Office moved to 280 Trumbull Street, Hartford, CT 06103.

2004-04-01Acquired Cigna Bank & Trust Company, Fsb in Hartford, CT.

2004-04-01Changed Institution Name to Prudential Bank & Trust, Fsb.

2011-07-21Changed Primary Federal Regulatory Agency to The Office of the Comptroller of the Currency.

2023-03-31Voluntarily relinquished FDIC insurance.

2023-03-31Changed Institution Name to Prudential Bank & Trust.

2023-03-31Changed Chartering Agency to State.

2023-03-31Changed Bank Class to Non-FDIC Insured Thrifts.

2023-03-31Changed Primary Federal Regulatory Agency to State.

2023-03-31Closed voluntarily and liquidated its assets.