Bank Failure
MOHAWK S&LA
Closed December 9, 1981 · NEWARK, NJ · FDIC Cert #28337.
- Closing date
- December 9, 1981
- Headquarters
- NEWARK, NJ
- FDIC Certificate
- 28337
- Total assets at closing
- $91,082,000
- Total deposits at closing
- $76,252,000
- Estimated loss to DIF
- $4,711,000
- Resolution type
- other
- Acquirer
- CITY FS&LA (FDIC Cert #1618)
Context
On December 9, 1981, regulators closed MOHAWK S&LA, headquartered in NEWARK, NJ. At closing, the institution held approximately $91,082,000 in assets and $76,252,000 in deposits. The FDIC arranged a resolution under which CITY FS&LA acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $4,711,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1981
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1981-12-18 | UNION DIME SAVINGS BANK | NEW YORK, NY | $1,452,985,000 |
| 1981-12-17 | SOUTHERN FS&LA OF BROWARD COUNTY | POMPANO BEACH, FL | $615,444,000 |
| 1981-12-17 | HAMILTONIAN FS&LA | LADUE, MO | $239,540,000 |
| 1981-12-17 | SECURITY FS&LA OF SIKESTON | SIKESTON, MO | $84,464,000 |
| 1981-12-09 | BOCA RATON FS&LA | BOCA RATON, FL | $275,848,000 |
| 1981-12-05 | PALOS S&LA | PALOS HEIGHTS, IL | $97,999,000 |
| 1981-12-04 | CENTRAL SAVINGS BANK | NEW YORK, NY | $910,243,000 |
| 1981-11-30 | EMPIRE STATE FS&LA | WHITE PLAINS, NY | $291,326,000 |
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