FIRST FS&LA OF HAMMONTON Failed 1988

What happened

FIRST FS&LA OF HAMMONTON of HAMMONTON, NJ was closed on 1988-05-25. The FDIC was named receiver.

Resolution: A/A

Deposits were transferred to RARITAN VALLEY S&LA (EAST BRUNSWICK, NJ). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1757

FDIC Certificate

28802

FDIC FIN

1728

Bank name

FIRST FS&LA OF HAMMONTON

Location

HAMMONTON, NJ

Failure date

1988-05-25

FDIC resolution date

1988-05-25

Charter type

SL

Resolution type

A/A

FDIC DIF cost (est.)

$82M

Deposits at failure

$298M

Assets at failure

$238M

Acquiring bank

RARITAN VALLEY S&LA (EAST BRUNSWICK, NJ)