# CENTRAL FEDERAL SAVINGS

> **Failed bank** · MINEOLA, NY · failed 1990-12-07 · Savings bank · FDIC cost $248M

## What happened

CENTRAL FEDERAL SAVINGS of MINEOLA, NY was closed by state regulators 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
- **Estimated FDIC DIF cost:** $248M
- **Deposits at failure:** $848M
- **Assets at failure:** $891M
- **Acquiring bank:** CHEMICAL BANK (NEW YORK, NY)

## Other banks CHEMICAL BANK has acquired in FDIC resolutions

- COMMUNITY NATIONAL BANK AND TRUST (NEW YORK, NY) — failed 1991-11-07 — /failed-bank/3231

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CENTRAL FEDERAL SAVINGS (FDIC ID 2957), failed 1990-12-07. Retrieved via AI Analytics 2026-05-20 from https://api.ai-analytics.org/failed-bank/2957.

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