JEFFERSON NATIONAL BANK Failed 1993

What happened

JEFFERSON NATIONAL BANK of WATERTOWN, NY was closed on 1993-02-26. The FDIC was named receiver.

Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors

Deposits were transferred to FLEET BANK OF NEW YORK (ALBANY, NY). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3440

FDIC Certificate

7135

FDIC FIN

4565

Bank name

JEFFERSON NATIONAL BANK

Location

WATERTOWN, NY

Failure date

1993-02-26

FDIC resolution date

1993-02-26

Charter type

National commercial bank (OCC-chartered)

Resolution type

Payout / Insured deposits — FDIC paid insured deposits directly to depositors

FDIC DIF cost (est.)

$44M

Deposits at failure

$249M

Assets at failure

$256M

Acquiring bank

FLEET BANK OF NEW YORK (ALBANY, NY)