Bank Failure
Fort Lee Federal Savings Bank, FSB
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Closed April 20, 2012 · Fort Lee, NJ · FDIC Cert #35527.
- Closing date
- April 20, 2012
- Headquarters
- Fort Lee, NJ
- FDIC Certificate
- 35527
- Total assets at closing
- $48.9M
- Total deposits at closing
- $47.8M
- Estimated loss to the insurance fund
- $11.9M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Alma Bank
Context
On April 20, 2012, regulators closed Fort Lee Federal Savings Bank, FSB, headquartered in Fort Lee, NJ. At closing, the institution held approximately $48.9M in assets and $47.8M in deposits. The FDIC record names Alma Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $11.9M.
By assets at closing this is the 1678th largest of the 3,526 bank failures in the FDIC record, and the 46th of 51 in 2012. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Fort Lee Federal Savings Bank, FSB fail?
Fort Lee Federal Savings Bank, FSB was closed by regulators on April 20, 2012.
Who acquired Fort Lee Federal Savings Bank, FSB?
The FDIC record names Alma Bank as the acquiring institution in the resolution of Fort Lee Federal Savings Bank, FSB.
How big was Fort Lee Federal Savings Bank, FSB when it failed?
Fort Lee Federal Savings Bank, FSB had approximately $48.9M in total assets and $47.8M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
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