BROADWAY BANK Failed 1992
What happened
BROADWAY BANK of PATERSON, NJ was closed on 1992-03-13. The FDIC was named receiver.
Resolution: Insured Deposit Transfer — insured deposits transferred to another bank
Deposits were transferred to HUDSON UNITED BANK (UNION CITY, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3287
- FDIC Certificate
- 15000
- FDIC FIN
- 4459
- Bank name
- BROADWAY BANK
- Location
- PATERSON, NJ
- Failure date
- 1992-03-13
- FDIC resolution date
- 1992-03-13
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Insured Deposit Transfer — insured deposits transferred to another bank
- FDIC DIF cost (est.)
- $76M
- Deposits at failure
- $383M
- Assets at failure
- $401M
- Acquiring bank
- HUDSON UNITED BANK (UNION CITY, NJ)
Other banks HUDSON UNITED BANK acquired in FDIC resolutions