ACTION FEDERAL SAVINGS Failed 1990
What happened
ACTION FEDERAL SAVINGS of SOMMERS POINT, NJ was closed on 1990-11-15. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST FSB OF DE (WILMINGTON, DE). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2939
- FDIC Certificate
- 30223
- FDIC FIN
- 2137
- Bank name
- ACTION FEDERAL SAVINGS
- Location
- SOMMERS POINT, NJ
- Failure date
- 1990-11-15
- FDIC resolution date
- 1991-10-25
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $82M
- Deposits at failure
- $199M
- Assets at failure
- $262M
- Acquiring bank
- FIRST FSB OF DE (WILMINGTON, DE)
Other banks FIRST FSB OF DE acquired in FDIC resolutions