Bank Failure
Dollar Savings Bank
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Closed February 14, 2004 · Newark, NJ · FDIC Cert #31330.
- Closing date
- February 14, 2004
- Headquarters
- Newark, NJ
- FDIC Certificate
- 31330
- Total assets at closing
- $13.4M
- Total deposits at closing
- $10.9M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- Savings Association Insurance Fund (SAIF)
- Resolution
- Failure (closed by regulators)
Context
On February 14, 2004, regulators closed Dollar Savings Bank, headquartered in Newark, NJ. At closing, the institution held approximately $13.4M in assets and $10.9M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2613th largest of the 3,526 bank failures in the FDIC record, and the 4th of 4 in 2004. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Dollar Savings Bank fail?
Dollar Savings Bank was closed by regulators on February 14, 2004.
How big was Dollar Savings Bank when it failed?
Dollar Savings Bank had approximately $13.4M in total assets and $10.9M in deposits at the time of failure.
Other failures in 2004
| Date | Bank | Assets |
|---|---|---|
| Jun 25, 2004 | Bank of Ephraim | $56.8M |
| Mar 19, 2004 | Reliance Bank | $28.6M |
| Mar 12, 2004 | Guaranty National Bank | $71.3M |
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