RELIANCE BANK Failed 2004
What happened
RELIANCE BANK of WHITE PLAINS, NY was closed on 2004-03-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to UNION STATE BANK (NANUET, NY). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3551
- FDIC Certificate
- 26778
- FDIC FIN
- 4664
- Bank name
- RELIANCE BANK
- Location
- WHITE PLAINS, NY
- Failure date
- 2004-03-19
- FDIC resolution date
- 2004-03-19
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $1M
- Deposits at failure
- $28M
- Assets at failure
- $29M
- Acquiring bank
- UNION STATE BANK (NANUET, NY)
- FDIC comments
- OBA=0 per R Bennett 03/14/2012
Other banks UNION STATE BANK acquired in FDIC resolutions