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Failures by State

Bank Failures in New Jersey

98 FDIC-insured banks headquartered in New Jersey have failed since 1935. The most recent was City National Bank of New Jersey on November 1, 2019. The worst year was 1939, with 19 failures. Failed banks held $30.64B in assets at closing.

98
Failures
1935 to 2019
$30.64B
Failed assets
At closing
$3.52B
Estimated DIF loss
FDIC estimate
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All New Jersey events
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Largest bank failures in New Jersey

Date Bank City Assets Acquirer or resolution
Dec 8, 1989 City Savings, FSB Somerset $9.81B Branch sale
Dec 4, 1992 Carteret FSB Madison $4.83B Branch sale
Oct 2, 1992 The Howard Savings Bank Newark $3.46B First Fidelity Bank Na N
May 22, 1991 The First National Bank of Toms River Toms River $1.42B First Fidelity Bank, Nation
Feb 23, 1990 First Atlantic S & La Plainfield $1.30B Branch sale
Dec 4, 1992 Security Federal Vineland $1.19B Meridian Bank, NJ
Jan 10, 1992 Hansen FSA Hammonton $572.4M Collective FSB
Apr 19, 1991 Prospect Park, FSB West Paterson $511.5M Lakeview SB
Jun 28, 1991 Metrobank FS & La Palisades Park $474.3M First FSB of DE
Nov 20, 1992 Polifly FS & La New Milford $458.0M Branch sale

New Jersey bank failures by year

Year Failures Failed assets
2019 1 $120.6M
2017 1 $124.2M
2012 1 $48.9M
2011 1 $191.9M
2010 1 $81.6M
2009 2 $204.0M
2004 1 $13.4M
1992 10 $11.05B
1991 16 $4.01B
1990 14 $3.70B
1989 5 $10.89B
1987 1 $36.5M
1983 1 $37.2M
1979 1 $12.7M
1976 2 $45.7M
1970 1 $21.4M
1958 1 $2.4M
1948 1 $7.9M
1942 1 —
1940 5 $2.1M
1939 19 $36.3M
1938 3 $702K
1937 5 $3.6M
1936 2 $1.2M
1935 2 $2.4M

Every bank failure in New Jersey

Date Bank City Assets Acquirer or resolution
Nov 1, 2019 City National Bank of New Jersey Newark $120.6M Industrial Bank
Jan 13, 2017 Harvest Community Bank Pennsville $124.2M First-Citizens Bank & Trust Company
Apr 20, 2012 Fort Lee Federal Savings Bank, FSB Fort Lee $48.9M Alma Bank
Oct 14, 2011 First State Bank Cranford $191.9M Northfield Bank
Sep 17, 2010 Isn Bank Cherry Hill $81.6M New Century Bank
Jul 31, 2009 First Bankamericano Elizabth $163.4M Crown Bank
May 1, 2009 Citizens Community Bank Ridgewood $40.7M North Jersey Community Bank
Feb 14, 2004 Dollar Savings Bank Newark $13.4M —
Dec 4, 1992 Carteret FSB Madison $4.83B Branch sale
Dec 4, 1992 Security Federal Vineland $1.19B Meridian Bank, NJ
Nov 20, 1992 Polifly FS & La New Milford $458.0M Branch sale
Oct 2, 1992 The Howard Savings Bank Newark $3.46B First Fidelity Bank Na N
Sep 25, 1992 Hometown Bank Edison $25.2M Somerset Trust Co
Sep 25, 1992 Highlands Community Bank, N.A. Clinton Township $19.7M Somerset Trust Co
Jun 5, 1992 Volunteer FSA Little Ferry $51.2M Interchange State Bank
May 22, 1992 Powder Mill Bank Morris Plains $49.6M Valley National Bank
Mar 13, 1992 Broadway Bank Paterson $400.5M Hudson United Bank
Jan 10, 1992 Hansen FSA Hammonton $572.4M Collective FSB
Nov 22, 1991 White Horse FS & La Trenton $72.5M Collective FSB
Nov 1, 1991 Marine View FSB Middletown $119.2M Summit Bank
Sep 27, 1991 Nutley Savings & Loan Nutley $188.6M Valley NB
Sep 20, 1991 Mid-Jersey National Bank Somerville $29.5M United Jersey Bank/central
Jul 26, 1991 Suburban National Bank Hillsborough TWNS $91.1M Provident Savings Bank
Jul 19, 1991 Community Guardian Bank Elmwood Park $55.3M Interchange State Bank
Jun 28, 1991 Metrobank FS & La Palisades Park $474.3M First FSB of DE
May 22, 1991 The First National Bank of Toms River Toms River $1.42B First Fidelity Bank, Nation
May 3, 1991 Newton Savings Bank, FSA Fairfield $40.9M Sussex County State Bank
Apr 19, 1991 Prospect Park, FSB West Paterson $511.5M Lakeview SB
Mar 8, 1991 Alexander Hamilton Paterson $210.7M First Fidelity Bank, N.A.
Mar 1, 1991 Amerified Savings Bank Lawrenceville $110.6M Branch sale
Feb 8, 1991 First Jersey S & La Assoc. Wyckoff $287.7M Valley NB
Jan 25, 1991 Center S & La Clifton $132.6M Hub Center Bank
Jan 18, 1991 Irving Savings & Loan Paterson $222.5M Hudson United Bank
Jan 4, 1991 Trident Federal S & L Assoc. Newark $47.2M Collective FSB
Dec 14, 1990 Empire Savings Bank Hammonton $219.3M United Jersey BANK/SO., N.A.
Dec 14, 1990 Old Borough Savings & Loan Trenton $133.5M New Jersey NB
Nov 15, 1990 Action Federal Savings Sommers Point $262.0M First FSB of DE
Nov 2, 1990 Riverside Savings Bank Riverside $177.8M Branch sale
Oct 5, 1990 Mountain Ridge State Bank West Orange $51.4M Mountain Ridge Bank
Sep 21, 1990 Mercer Savings Bank Trenton $92.7M Pulawski SB, Sla
Jul 20, 1990 Mainstay Federal Savings Red Bank $226.1M Bankers Savings
Jun 29, 1990 The Montgomery National Bank Montgomery TWNSP $92.6M Amboy National Bank
Jun 15, 1990 United S & L of Trenton Trenton $277.7M Penn SB, FSB
May 15, 1990 United Savings FSB Paterson $245.8M Deposit payout
May 4, 1990 Mutual Aide S & La Manasquan $103.3M Provident SB
Mar 9, 1990 Nassau S & La Princeton $313.1M Penn SB, FSB
Mar 9, 1990 Yorkwood S & La Maplewood $205.3M Branch sale
Feb 23, 1990 First Atlantic S & La Plainfield $1.30B Branch sale
Dec 8, 1989 City Savings, FSB Somerset $9.81B Branch sale
Nov 9, 1989 Colonial Federal Savings Assoc. Roselle Park $427.1M Branch sale

Source: FDIC failed-bank list. Counts are real closures by headquarters state; FDIC open-bank assistance transactions are not failures and are excluded. Assets and deposits are as reported at closing.

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