Bank Failure
Hansen FSA
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Closed January 10, 1992 · Hammonton, NJ · FDIC Cert #31024.
- Closing date
- January 10, 1992
- Headquarters
- Hammonton, NJ
- FDIC Certificate
- 31024
- Total assets at closing
- $572.4M
- Total deposits at closing
- $427.3M
- Estimated loss to the insurance fund
- $42.4M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Collective FSB
Context
On January 10, 1992, regulators closed Hansen FSA, headquartered in Hammonton, NJ. At closing, the institution held approximately $572.4M in assets and $427.3M in deposits. The FDIC record names Collective FSB as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $42.4M.
By assets at closing this is the 338th largest of the 3,526 bank failures in the FDIC record, and the 27th of 179 in 1992. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Hansen FSA fail?
Hansen FSA was closed by regulators on January 10, 1992.
Who acquired Hansen FSA?
The FDIC record names Collective FSB as the acquiring institution in the resolution of Hansen FSA.
How big was Hansen FSA when it failed?
Hansen FSA had approximately $572.4M in total assets and $427.3M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
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