MUTUAL AIDE S & LA Failed 1990
What happened
MUTUAL AIDE S & LA of MANASQUAN, NJ was closed on 1990-05-04. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to PROVIDENT SB (JERSEY CITY, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2751
- FDIC Certificate
- 30130
- FDIC FIN
- 7376
- Bank name
- MUTUAL AIDE S & LA
- Location
- MANASQUAN, NJ
- Failure date
- 1990-05-04
- FDIC resolution date
- 1991-08-16
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $18M
- Deposits at failure
- $105M
- Assets at failure
- $103M
- Acquiring bank
- PROVIDENT SB (JERSEY CITY, NJ)