HIGHLANDS COMMUNITY BANK, N.A. Failed 1992
What happened
HIGHLANDS COMMUNITY BANK, N.A. of CLINTON TOWNSHIP, NJ was closed on 1992-09-25. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to SOMERSET TRUST CO (SOMERVILLE, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3376
- FDIC Certificate
- 26844
- FDIC FIN
- 4517
- Bank name
- HIGHLANDS COMMUNITY BANK, N.A.
- Location
- CLINTON TOWNSHIP, NJ
- Failure date
- 1992-09-25
- FDIC resolution date
- 1992-09-25
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $3M
- Deposits at failure
- $20M
- Assets at failure
- $20M
- Acquiring bank
- SOMERSET TRUST CO (SOMERVILLE, NJ)
Other banks SOMERSET TRUST CO acquired in FDIC resolutions