MOUNTAIN RIDGE STATE BANK Failed 1990

WEST ORANGE, NJ · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

MOUNTAIN RIDGE STATE BANK of WEST ORANGE, NJ was closed on 1990-10-05. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to MOUNTAIN RIDGE BANK (WEST ORANGE, NJ). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
2916
FDIC Certificate
21619
FDIC FIN
4282
Bank name
MOUNTAIN RIDGE STATE BANK
Location
WEST ORANGE, NJ
Failure date
1990-10-05
FDIC resolution date
1990-10-05
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Insured Deposit Transfer — insured deposits transferred to another bank
FDIC DIF cost (est.)
$13M
Deposits at failure
$50M
Assets at failure
$51M
Acquiring bank
MOUNTAIN RIDGE BANK (WEST ORANGE, NJ)