# ACTION FEDERAL SAVINGS

> **Failed bank** · SOMMERS POINT, NJ · failed 1990-11-15 · SL · FDIC cost $82M

## What happened

ACTION FEDERAL SAVINGS of SOMMERS POINT, NJ was closed by state regulators 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
- **Estimated FDIC DIF cost:** $82M
- **Deposits at failure:** $199M
- **Assets at failure:** $262M
- **Acquiring bank:** FIRST FSB OF DE (WILMINGTON, DE)

## Other banks FIRST FSB OF DE has acquired in FDIC resolutions

- METROBANK FS & LA (PALISADES PARK, NJ) — failed 1991-06-28 — /failed-bank/3135
- REPUBLIC SB, FSB (ROCKVILLE, MD) — failed 1991-03-22 — /failed-bank/3053

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, ACTION FEDERAL SAVINGS (FDIC ID 2939), failed 1990-11-15. Retrieved via AI Analytics 2026-08-25 from https://api.ai-analytics.org/failed-bank/2939.

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