CENTRAL FEDERAL SAVINGS Failed 1990
What happened
CENTRAL FEDERAL SAVINGS of MINEOLA, NY was closed on 1990-12-07. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CHEMICAL BANK (NEW YORK, NY). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2957
- FDIC Certificate
- 29827
- FDIC FIN
- 2172
- Bank name
- CENTRAL FEDERAL SAVINGS
- Location
- MINEOLA, NY
- Failure date
- 1990-12-07
- FDIC resolution date
- 1992-03-13
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $248M
- Deposits at failure
- $848M
- Assets at failure
- $891M
- Acquiring bank
- CHEMICAL BANK (NEW YORK, NY)
Other banks CHEMICAL BANK acquired in FDIC resolutions