EMPIRE SAVINGS BANK Failed 1990
What happened
EMPIRE SAVINGS BANK of HAMMONTON, NJ was closed on 1990-12-14. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to UNITED JERSEY BANK/SO., NA (CHERRY HILL, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2969
- FDIC Certificate
- 28473
- FDIC FIN
- 2131
- Bank name
- EMPIRE SAVINGS BANK
- Location
- HAMMONTON, NJ
- Failure date
- 1990-12-14
- FDIC resolution date
- 1991-10-11
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $28M
- Deposits at failure
- $194M
- Assets at failure
- $219M
- Acquiring bank
- UNITED JERSEY BANK/SO., NA (CHERRY HILL, NJ)