BEACON FEDERAL SAVINGS Failed 1991

BALDWIN, NY · Savings bank · view on FDIC BankFind ↗

What happened

BEACON FEDERAL SAVINGS of BALDWIN, NY was closed on 1991-03-08. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to NORTH SIDE SB (FLORAL PARK, NY). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3032
FDIC Certificate
29036
FDIC FIN
2133
Bank name
BEACON FEDERAL SAVINGS
Location
BALDWIN, NY
Failure date
1991-03-08
FDIC resolution date
1991-10-18
Charter type
Savings bank
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$20M
Deposits at failure
$389M
Assets at failure
$406M
Acquiring bank
NORTH SIDE SB (FLORAL PARK, NY)