THE HOWARD SAVINGS BANK Failed 1992
What happened
THE HOWARD SAVINGS BANK of NEWARK, NJ was closed on 1992-10-02. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST FIDELITY BANK NA N (NEWARK, NJ). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3378
- FDIC Certificate
- 16146
- FDIC FIN
- 4520
- Bank name
- THE HOWARD SAVINGS BANK
- Location
- NEWARK, NJ
- Failure date
- 1992-10-02
- FDIC resolution date
- 1992-10-02
- Charter type
- SI
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $68M
- Deposits at failure
- $3,379M
- Assets at failure
- $3,461M
- Acquiring bank
- FIRST FIDELITY BANK NA N (NEWARK, NJ)
Other banks FIRST FIDELITY BANK NA N acquired in FDIC resolutions