MID-JERSEY NATIONAL BANK Failed 1991

What happened

MID-JERSEY NATIONAL BANK of SOMERVILLE, NJ was closed on 1991-09-20. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to UNITED JERSEY BANK/CENTRAL, (WEST WINDSOR TOW, NJ). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3192

FDIC Certificate

26946

FDIC FIN

4399

Bank name

MID-JERSEY NATIONAL BANK

Location

SOMERVILLE, NJ

Failure date

1991-09-20

FDIC resolution date

1991-09-20

Charter type

National commercial bank (OCC-chartered)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$6M

Deposits at failure

$28M

Assets at failure

$29M

Acquiring bank

UNITED JERSEY BANK/CENTRAL, (WEST WINDSOR TOW, NJ)