# FIRST NEW YORK BANK FOR BUSINESS

> **Failed bank** · NEW YORK, NY · failed 1992-11-13 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $165M

## What happened

FIRST NEW YORK BANK FOR BUSINESS of NEW YORK, NY was closed by regulators 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
- **Estimated FDIC DIF cost:** $165M
- **Deposits at failure:** $499M
- **Assets at failure:** $531M
- **Acquiring bank:** MERCHANTS BANK OF NEW YO (NEW YORK CITY, NY)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=FIRST%20NEW%20YORK%20BANK%20FOR%20BUSINESS

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, FIRST NEW YORK BANK FOR BUSINESS (FDIC ID 3411), failed 1992-11-13. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/failed-bank/3411.

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