FIRST NEW YORK BANK FOR BUSINESS Failed 1992
What happened
FIRST NEW YORK BANK FOR BUSINESS of NEW YORK, NY was closed on 1992-11-13. The FDIC was named receiver.
Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors
Deposits were transferred to MERCHANTS BANK OF NEW YO (NEW YORK CITY, NY). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3411
- FDIC Certificate
- 22073
- FDIC FIN
- 4549
- Bank name
- FIRST NEW YORK BANK FOR BUSINESS
- Location
- NEW YORK, NY
- Failure date
- 1992-11-13
- FDIC resolution date
- 1992-11-13
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Payout / Insured deposits — FDIC paid insured deposits directly to depositors
- FDIC DIF cost (est.)
- $165M
- Deposits at failure
- $499M
- Assets at failure
- $531M
- Acquiring bank
- MERCHANTS BANK OF NEW YO (NEW YORK CITY, NY)