# MAINSTAY FEDERAL SAVINGS

> **Failed bank** · RED BANK, NJ · failed 1990-07-20 · Savings bank · FDIC cost $53M

## What happened

MAINSTAY FEDERAL SAVINGS of RED BANK, NJ was closed by state regulators 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
- **Estimated FDIC DIF cost:** $53M
- **Deposits at failure:** $166M
- **Assets at failure:** $226M
- **Acquiring bank:** BANKERS SAVINGS (PERTH AMBOY, NJ)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=MAINSTAY%20FEDERAL%20SAVINGS

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, MAINSTAY FEDERAL SAVINGS (FDIC ID 2850), failed 1990-07-20. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/failed-bank/2850.

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