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.

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