Bank Failure
ISLAND S&LA
Closed November 15, 1982 · HEMPSTEAD, NY · FDIC Cert #28076.
- Closing date
- November 15, 1982
- Headquarters
- HEMPSTEAD, NY
- FDIC Certificate
- 28076
- Total assets at closing
- $284,483,000
- Total deposits at closing
- $221,013,000
- Estimated loss to DIF
- $12,058,000
- Resolution type
- other
- Acquirer
- EMPIRE OF AMERICA FSA (FDIC Cert #1634)
Context
On November 15, 1982, regulators closed ISLAND S&LA, headquartered in HEMPSTEAD, NY. At closing, the institution held approximately $284,483,000 in assets and $221,013,000 in deposits. The FDIC arranged a resolution under which EMPIRE OF AMERICA FSA acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $12,058,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1982
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1982-12-20 | SOUTH EAST FS&LA | LOUISVILLE, KY | $132,146,000 |
| 1982-12-20 | PEACHTREE FS&LA | ATLANTA, GA | $104,979,000 |
| 1982-12-20 | FIRST HOME FS&LA | OWENSBORO, KY | $83,632,000 |
| 1982-12-20 | GARFIELD FS&LA | POTTSTOWN, PA | $70,419,000 |
| 1982-12-20 | MID-CITY FS&LA | NORTH WALES, PA | $47,779,000 |
| 1982-12-20 | SECURITY FS&LA | MAYFIELD, KY | $45,862,000 |
| 1982-12-20 | FIRST FS&LA OF CRISP COUNTY | CORDELE, GA | $44,595,000 |
| 1982-12-20 | CLAY COUNTY FS&LA | WEST POINT, MS | $14,082,000 |
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