# SECURITY FEDERAL

> **Failed bank** · VINELAND, NJ · failed 1992-12-04 · SL · FDIC cost $41M

## What happened

SECURITY FEDERAL of VINELAND, NJ was closed by state regulators on **1992-12-04**. The FDIC was named receiver.

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

Deposits were transferred to **MERIDIAN BANK, NJ** (MEDFORD, NJ). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3423
- **FDIC Certificate:** 30217
- **FDIC FIN:** 1287
- **Bank name:** SECURITY FEDERAL
- **Location:** VINELAND, NJ
- **Failure date:** 1992-12-04
- **FDIC resolution date:** 1994-06-17
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $41M
- **Deposits at failure:** $858M
- **Assets at failure:** $1,186M
- **Acquiring bank:** MERIDIAN BANK, NJ (MEDFORD, NJ)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SECURITY FEDERAL (FDIC ID 3423), failed 1992-12-04. Retrieved via AI Analytics 2026-06-26 from https://api.ai-analytics.org/failed-bank/3423.

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