MAINSTAY FEDERAL SAVINGS Failed 1990
What happened
MAINSTAY FEDERAL SAVINGS of RED BANK, NJ was closed on 1990-07-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BANKERS SAVINGS (PERTH AMBOY, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2850
- FDIC Certificate
- 30140
- FDIC FIN
- 2120
- Bank name
- MAINSTAY FEDERAL SAVINGS
- Location
- RED BANK, NJ
- Failure date
- 1990-07-20
- FDIC resolution date
- 1991-09-27
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $53M
- Deposits at failure
- $166M
- Assets at failure
- $226M
- Acquiring bank
- BANKERS SAVINGS (PERTH AMBOY, NJ)