Federal and state agencies are investigating the Savings Institute of Willimantic and its former president, William R. Wilcox Jr., including possibly favorable terms on a loan to a southern Connecticut marina owned by a longtime friend of Mr. Wilcox.

According to several sources familiar with the situation, the Federal Deposit Insurance Corp. is looking at a loan of about $750,000 made in the early 1990s to Ronald W. Miller, owner of Old Harbor Marina in Clinton, Conn.

The agency is investigating whether the loan, which was well outside the thrift's service area, received special treatment because of Mr. Miller's association with Mr. Wilcox, the sources said. According to the sources, the two men are childhood friends, and regulators are examining whether they have a partnership with an interest in the marina and other properties.

In particular, one source said, regulators are looking at how the loan was originated and structured, and may be questioning the appraisal of the property.

"They're looking into many aspects of the relationship between the two parties," the source said.

Mr. Miller, reached at the marina, refused to comment on the investigation. Mr. Wilcox could not be reached for comment.

Investigators are also looking at how the bank's attorneys handled the restructuring of the loans to Miller, another source said. Thrift attorney Donald Beebe also declined to discuss the investigation.

The regulatory agency has contacted several current and former officials of the Institute and has issued subpoenas to others, the sources say.

FDIC officials have refused to confirm or deny any investigation.

According to Clinton town officials, the marina was assessed at almost $985,000 last October. Town officials said Mr. Miller was behind on last year's taxes until about a month ago, but is now current. He owes $27,000 in new taxes, due Aug. 1.

Mr. Wilcox resigned last month as a series of lawsuits from former thrift associates accused him of conspiring to ruin the reputation of a rival banker by planting cocaine on him and trying to uncover damaging information.

In addition to the FDIC, the sources say, the state banking department, the U.S. Attorney's office, the Federal Bureau of Investigation, state police, the Securities and Exchange Commission, and the U.S. Postmaster General are investigating the case.

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