FIRST STATE BANK Failed 2011

CRANFORD, NJ · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

FIRST STATE BANK of CRANFORD, NJ was closed on 2011-10-14. The FDIC was named receiver.

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

Deposits were transferred to NORTHFIELD BANK (STATEN ISLAND, NY). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3970
FDIC Certificate
58046
FDIC FIN
10403
Bank name
FIRST STATE BANK
Location
CRANFORD, NJ
Failure date
2011-10-14
FDIC resolution date
2011-10-14
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.)
$46M
Deposits at failure
$188M
Assets at failure
$192M
Acquiring bank
NORTHFIELD BANK (STATEN ISLAND, NY)