CENTER S & LA Failed 1991
What happened
CENTER S & LA of CLIFTON, NJ was closed on 1991-01-25. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to HUB CENTER BANK (CLIFTON, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 2998
- FDIC Certificate
- 30169
- FDIC FIN
- 2106
- Bank name
- CENTER S & LA
- Location
- CLIFTON, NJ
- Failure date
- 1991-01-25
- FDIC resolution date
- 1991-09-20
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $15M
- Deposits at failure
- $125M
- Assets at failure
- $133M
- Acquiring bank
- HUB CENTER BANK (CLIFTON, NJ)