# FIRST ATLANTIC S & LA

> **Failed bank** · PLAINFIELD, NJ · failed 1990-02-23 · SL · FDIC cost $234M

## What happened

FIRST ATLANTIC S & LA of PLAINFIELD, NJ was closed by state regulators on **1990-02-23**. The FDIC was named receiver.

**Resolution:** Payout / Insured deposits — FDIC paid insured deposits directly to depositors

Deposits were transferred to **BRANCH SALE** (NONE, NA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2668
- **FDIC Certificate:** 27739
- **FDIC FIN:** 7442
- **Bank name:** FIRST ATLANTIC S & LA
- **Location:** PLAINFIELD, NJ
- **Failure date:** 1990-02-23
- **FDIC resolution date:** 1991-09-13
- **Charter type:** SL
- **Resolution type:** Payout / Insured deposits — FDIC paid insured deposits directly to depositors
- **Estimated FDIC DIF cost:** $234M
- **Deposits at failure:** $1,010M
- **Assets at failure:** $1,297M
- **Acquiring bank:** BRANCH SALE (NONE, NA)

## Other banks BRANCH SALE has acquired in FDIC resolutions

- WESTERN FSB (MARINA DEL RAY, CA) — failed 1993-06-04 — /failed-bank/3457
- PIONEER FS & LA (PRAIRIE VILLAGE, KS) — failed 1993-04-02 — /failed-bank/3448
- SECOND NATIONAL, FSB (SALISBURY, MD) — failed 1992-12-04 — /failed-bank/3424
- CARTERET FSB (MADISON, NJ) — failed 1992-12-04 — /failed-bank/3422
- POLIFLY FS & LA (NEW MILFORD, NJ) — failed 1992-11-20 — /failed-bank/3417
- IRVING FB FOR SAVINGS (CHICAGO, IL) — failed 1992-11-20 — /failed-bank/3416
- FIRST FSB OF GEORGIA, FA (WINDER, GA) — failed 1992-11-06 — /failed-bank/3408
- HOMESTEAD FSA (SAN FRANCISCO, CA) — failed 1992-10-30 — /failed-bank/3406
- STANDARD FSB (GAITHERSBURG, MD) — failed 1992-10-21 — /failed-bank/3385
- SECURITY FS & LA (JACKSON, MS) — failed 1992-10-16 — /failed-bank/3384

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20ATLANTIC%20S%20%26%20LA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST ATLANTIC S & LA (FDIC ID 2668), failed 1990-02-23. Retrieved via AI Analytics 2026-07-16 from https://api.ai-analytics.org/failed-bank/2668.

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