# THE PARK AVENUE BANK

> **Failed bank** · NEW YORK, NY · failed 2010-03-12 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $76M

## What happened

THE PARK AVENUE BANK of NEW YORK, NY was closed by regulators on **2010-03-12**. The FDIC was named receiver.

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

Deposits were transferred to **VALLEY NATIONAL BANK** (WAYNE, NJ). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3761
- **FDIC Certificate:** 27096
- **FDIC FIN:** 10195
- **Bank name:** THE PARK AVENUE BANK
- **Location:** NEW YORK, NY
- **Failure date:** 2010-03-12
- **FDIC resolution date:** 2010-03-12
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $76M
- **Deposits at failure:** $495M
- **Assets at failure:** $520M
- **Acquiring bank:** VALLEY NATIONAL BANK (WAYNE, NJ)

## Other banks VALLEY NATIONAL BANK has acquired in FDIC resolutions

- LIBERTYPOINTE BANK (NEW YORK, NY) — failed 2010-03-11 — /failed-bank/3760
- POWDER MILL BANK (MORRIS PLAINS, NJ) — failed 1992-05-22 — /failed-bank/3328

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=THE%20PARK%20AVENUE%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE PARK AVENUE BANK (FDIC ID 3761), failed 2010-03-12. Retrieved via AI Analytics 2026-07-02 from https://api.ai-analytics.org/failed-bank/3761.

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