Bank Failure
Old Borough Savings & Loan
BankRegReports is independent of Old Borough Savings & Loan and never asks for online banking logins or passwords.
Closed December 14, 1990 · Trenton, NJ · FDIC Cert #30645.
- Closing date
- December 14, 1990
- Headquarters
- Trenton, NJ
- FDIC Certificate
- 30645
- Total assets at closing
- $133.5M
- Total deposits at closing
- $117.2M
- Estimated loss to the insurance fund
- Not available (the FDIC feed's figure of $6K is not consistent with a failure of this size)
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- New Jersey NB
Context
On December 14, 1990, regulators closed Old Borough Savings & Loan, headquartered in Trenton, NJ. At closing, the institution held approximately $133.5M in assets and $117.2M in deposits. The FDIC record names New Jersey NB as the acquiring institution in the resolution.
By assets at closing this is the 1023rd largest of the 3,526 bank failures in the FDIC record, and the 130th of 381 in 1990. 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 Old Borough Savings & Loan fail?
Old Borough Savings & Loan was closed by regulators on December 14, 1990.
Who acquired Old Borough Savings & Loan?
The FDIC record names New Jersey NB as the acquiring institution in the resolution of Old Borough Savings & Loan.
How big was Old Borough Savings & Loan when it failed?
Old Borough Savings & Loan had approximately $133.5M in total assets and $117.2M in deposits at the time of failure.
Other failures in 1990
| Date | Bank | Assets |
|---|---|---|
| Dec 28, 1990 | Capitol Bank and Trust Company | $485.6M |
| Dec 28, 1990 | Southern FS | $230.8M |
| Dec 28, 1990 | First FS & La of Andalusia | $38.7M |
| Dec 27, 1990 | Enterprise Savings Bank, F.A. | $432.6M |
| Dec 21, 1990 | Arkansas FSB | $71.7M |
| Dec 15, 1990 | Mid-America FS & La | $1.21B |
| Dec 14, 1990 | Community FS & La | $1.98B |
| Dec 14, 1990 | Comfed Savings Bank | $1.40B |
Explore: all failures · NJ bank events · 1990 events · events hub