# POWDER MILL BANK

> **Failed bank** · MORRIS PLAINS, NJ · failed 1992-05-22 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $7M

## What happened

POWDER MILL BANK of MORRIS PLAINS, NJ was closed by regulators on **1992-05-22**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **VALLEY NATIONAL BANK** (PASSAIC, NJ). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3328
- **FDIC Certificate:** 27001
- **FDIC FIN:** 4491
- **Bank name:** POWDER MILL BANK
- **Location:** MORRIS PLAINS, NJ
- **Failure date:** 1992-05-22
- **FDIC resolution date:** 1992-05-22
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $7M
- **Deposits at failure:** $48M
- **Assets at failure:** $50M
- **Acquiring bank:** VALLEY NATIONAL BANK (PASSAIC, NJ)

## Other banks VALLEY NATIONAL BANK has acquired in FDIC resolutions

- THE PARK AVENUE BANK (NEW YORK, NY) — failed 2010-03-12 — /failed-bank/3761
- LIBERTYPOINTE BANK (NEW YORK, NY) — failed 2010-03-11 — /failed-bank/3760

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=POWDER%20MILL%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, POWDER MILL BANK (FDIC ID 3328), failed 1992-05-22. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/3328.

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