FDIC Open-Bank Assistance
Orange Savings Bank
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Assistance provided September 28, 1984 · Livingston, NJ · FDIC Cert #16148.
- Assistance date
- September 28, 1984
- Headquarters
- Livingston, NJ
- FDIC Certificate
- 16148
- Total assets at the time
- $513.4M
- Total deposits at the time
- $498.0M
- Estimated loss to the insurance fund
- $7.3M
- Insurance fund
- FDIC insurance fund
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- Hudson City Savings Bank
Context
On September 28, 1984, the FDIC provided open-bank assistance to Orange Savings Bank, headquartered in Livingston, NJ. The institution continued operating. At the time it held approximately $513.4M in assets and $498.0M in deposits. The FDIC record names Hudson City Savings Bank as the acquiring institution in the assisted transaction. The estimated cost to the FDIC insurance fund was approximately $7.3M.
The FDIC record for 1984 holds 83 failures and 23 open-bank assistance transactions. 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 the FDIC provide assistance to Orange Savings Bank?
Orange Savings Bank received FDIC open-bank assistance on September 28, 1984; it did not fail.
How big was Orange Savings Bank at the time of assistance?
Orange Savings Bank had approximately $513.4M in total assets and $498.0M in deposits at the time of assistance.
Bank failures in 1984
| Date | Bank | Assets |
|---|---|---|
| Dec 22, 1984 | First Security Bank | $13.4M |
| Dec 20, 1984 | The Farmers State Bank | $14.6M |
| Dec 18, 1984 | Uehling State Bank | $4.2M |
| Dec 11, 1984 | University Bank of Wichita | $4.7M |
| Dec 7, 1984 | San Marino S&LA | $856.8M |
| Dec 7, 1984 | Farmers State BK of Holyoke | $3.9M |
| Dec 4, 1984 | Golden Spike State Bank | $7.8M |
| Nov 30, 1984 | The Dayton BK & TR Co. | $51.4M |
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