# CENTER S & LA

> **Failed bank** · CLIFTON, NJ · failed 1991-01-25 · SL · FDIC cost $15M

## What happened

CENTER S & LA of CLIFTON, NJ was closed by state regulators 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
- **Estimated FDIC DIF cost:** $15M
- **Deposits at failure:** $125M
- **Assets at failure:** $133M
- **Acquiring bank:** HUB CENTER BANK (CLIFTON, NJ)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=CENTER%20S%20%26%20LA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CENTER S & LA (FDIC ID 2998), failed 1991-01-25. Retrieved via AI Analytics 2026-05-21 from https://api.ai-analytics.org/failed-bank/2998.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*