# NUTLEY SAVINGS & LOAN

> **Failed bank** · NUTLEY, NJ · failed 1991-09-27 · SL · FDIC cost $18M

## What happened

NUTLEY SAVINGS & LOAN of NUTLEY, NJ was closed by state regulators on **1991-09-27**. 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:** 3197
- **FDIC Certificate:** 28742
- **FDIC FIN:** 2121
- **Bank name:** NUTLEY SAVINGS & LOAN
- **Location:** NUTLEY, NJ
- **Failure date:** 1991-09-27
- **FDIC resolution date:** 1991-09-27
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $18M
- **Deposits at failure:** $179M
- **Assets at failure:** $189M
- **Acquiring bank:** VALLEY NB (WAYNE, NJ)

## Other banks VALLEY NB has acquired in FDIC resolutions

- FIRST JERSEY S & LA ASSOC. (WYCKOFF, NJ) — failed 1991-02-08 — /failed-bank/3012
- 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=NUTLEY%20SAVINGS%20%26%20LOAN

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, NUTLEY SAVINGS & LOAN (FDIC ID 3197), failed 1991-09-27. Retrieved via AI Analytics 2026-07-07 from https://api.ai-analytics.org/failed-bank/3197.

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