# BEACON FEDERAL SAVINGS

> **Failed bank** · BALDWIN, NY · failed 1991-03-08 · Savings bank · FDIC cost $20M

## What happened

BEACON FEDERAL SAVINGS of BALDWIN, NY was closed by state regulators 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
- **Estimated FDIC DIF cost:** $20M
- **Deposits at failure:** $389M
- **Assets at failure:** $406M
- **Acquiring bank:** NORTH SIDE SB (FLORAL PARK, NY)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=BEACON%20FEDERAL%20SAVINGS

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, BEACON FEDERAL SAVINGS (FDIC ID 3032), failed 1991-03-08. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/3032.

---

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