Bank Failure
SUBURBAN NATIONAL BANK
Closed July 26, 1991 · HILLSBOROUGH TWNS, NJ · FDIC Cert #27157.
- Closing date
- July 26, 1991
- Headquarters
- HILLSBOROUGH TWNS, NJ
- FDIC Certificate
- 27157
- Total assets at closing
- $91,091,000
- Total deposits at closing
- $91,287,000
- Estimated loss to DIF
- $27,794,000
- Resolution type
- other
- Acquirer
- PROVIDENT SAVINGS BANK (FDIC Cert #4380)
Context
On July 26, 1991, regulators closed SUBURBAN NATIONAL BANK, headquartered in HILLSBOROUGH TWNS, NJ. At closing, the institution held approximately $91,091,000 in assets and $91,287,000 in deposits. The FDIC arranged a resolution under which PROVIDENT SAVINGS BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $27,794,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1991
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1991-12-20 | NORTH RIDGE BANK | OAKLAND PARK, FL | $94,332,000 |
| 1991-12-13 | INVESTORS FSB | RICHMOND, VA | $2,057,643,000 |
| 1991-12-13 | THE BANK MART | BRIDGEPORT, CT | $578,220,000 |
| 1991-12-13 | MERCHANTS NATIONAL BANK | LEOMINSTER, MA | $153,615,000 |
| 1991-12-13 | BANK OF EAST HARTFORD | EAST HARTFORD, CT | $36,581,000 |
| 1991-12-13 | FEDERAL FINANCE & MORTGAGE, LTD | HONOLULU, HI | $7,732,000 |
| 1991-12-12 | GRANITE CO-OPERATIVE BANK | QUINCY, MA | $103,814,000 |
| 1991-12-06 | SAYBROOK BANK AND TRUST COMPANY | OLD SAYBROOK, CT | $77,287,000 |
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