The troubled Monroe Bank and Trust Co. of Monroe, Conn., was closed yesterday and its 3,460 accounts were transferred to the North American Bank and Trust Co. of Wolcott, Conn., the Federal Deposit Insurance Corp. said.$

The Monroe Bank's one office will open Tuesday as a branch of North American Bank, and all of Monroe's depositors will automatically become depositors of North American, the FDIC said.

The Monroe Bank, which has lost money for the past three years, was closed by Connecticut Bank Commissioner Lawrence Connell Jr., who named the FDIC as receiver.

Six banks bid to take over the Monroe Bank from the FDIC, the agency said, and North American was the high bidder. It will pay a premium of $183,769.

North American will assume $2.62 million in deposits plus other liabilities, the FDIC said. And it will purchase a market value most of Monroe Bank's securities portfolio worth about $760,000 and other assets, including about $430,000 in consumer loans.

The FDIC advanced $1.89 million in cash to North American to facilitate the transaction, but will retain other bank assets worth about $2.26 million, from which it can recoup its advance.

The FDIC said the deal "avoids the necessary for statutory payoff of the estimated 3,460 depoits accounts in the failed bank and prevents financial loss and delay to the owners of depositors that exceed the statutory insurance limit, "which is generally $40,000 per account.