ISN BANK Failed 2010
What happened
ISN BANK of CHERRY HILL, NJ was closed on 2010-09-17. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to NEW CENTURY BANK (PHOENIXVILLE, PA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3856
- FDIC Certificate
- 57107
- FDIC FIN
- 10290
- Bank name
- ISN BANK
- Location
- CHERRY HILL, NJ
- Failure date
- 2010-09-17
- FDIC resolution date
- 2010-09-17
- 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.)
- $19M
- Deposits at failure
- $80M
- Assets at failure
- $82M
- Acquiring bank
- NEW CENTURY BANK (PHOENIXVILLE, PA)
Other banks NEW CENTURY BANK acquired in FDIC resolutions
- USA BANK (PORT CHESTER, NY) — failed 2010-07-09