# FIRST JERSEY S & LA ASSOC.

> **Failed bank** · WYCKOFF, NJ · failed 1991-02-08 · SL · FDIC cost $38M

## What happened

FIRST JERSEY S & LA ASSOC. of WYCKOFF, NJ was closed by state regulators 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
- **Estimated FDIC DIF cost:** $38M
- **Deposits at failure:** $257M
- **Assets at failure:** $288M
- **Acquiring bank:** VALLEY NB (WAYNE, NJ)

## Other banks VALLEY NB has acquired in FDIC resolutions

- NUTLEY SAVINGS & LOAN (NUTLEY, NJ) — failed 1991-09-27 — /failed-bank/3197
- NORTH JERSEY FEDERAL SAV. ASSOC. (PASSAIC, NJ) — failed 1989-02-17 — /failed-bank/2118

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST JERSEY S & LA ASSOC. (FDIC ID 3012), failed 1991-02-08. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/3012.

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