PROSPECT PARK, FSB Failed 1991
What happened
PROSPECT PARK, FSB of WEST PATERSON, NJ was closed on 1991-04-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to LAKEVIEW SB (PATERSON, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3069
- FDIC Certificate
- 29844
- FDIC FIN
- 1268
- Bank name
- PROSPECT PARK, FSB
- Location
- WEST PATERSON, NJ
- Failure date
- 1991-04-19
- FDIC resolution date
- 1994-04-22
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $95M
- Deposits at failure
- $474M
- Assets at failure
- $512M
- Acquiring bank
- LAKEVIEW SB (PATERSON, NJ)