FIRST JERSEY S & LA ASSOC. Failed 1991
What happened
FIRST JERSEY S & LA ASSOC. of WYCKOFF, NJ was closed on 1991-02-08. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to VALLEY NB (WAYNE, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3012
- FDIC Certificate
- 28150
- FDIC FIN
- 7444
- Bank name
- FIRST JERSEY S & LA ASSOC.
- Location
- WYCKOFF, NJ
- Failure date
- 1991-02-08
- FDIC resolution date
- 1991-09-13
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $38M
- Deposits at failure
- $257M
- Assets at failure
- $288M
- Acquiring bank
- VALLEY NB (WAYNE, NJ)
Other banks VALLEY NB acquired in FDIC resolutions