Bank Failure
UNITED SAVINGS FSB
Closed May 15, 1990 · PATERSON , NJ · FDIC Cert #30147 .
- Closing date
- May 15, 1990
- Headquarters
- PATERSON , NJ
- FDIC Certificate
- 30147
- Total assets at closing
- $245.8M
- Total deposits at closing
- $244.8M
- Estimated loss to DIF
- $21.1M
- Resolution type
- other
- Acquirer
- PAYOUT (FDIC Cert #7261)
Context
On May 15, 1990, regulators closed UNITED SAVINGS FSB , headquartered in PATERSON , NJ . At closing, the institution held approximately $245.8M in assets and $244.8M in deposits . The FDIC arranged a resolution under which PAYOUT acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $21.1M.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1990
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1990-12-28 | CAPITOL BANK AND TRUST COMPANY | BOSTON , MA | $485.6M |
| 1990-12-28 | SOUTHERN FS | NEW ORLEANS , LA | $230.8M |
| 1990-12-28 | FIRST FS & LA OF ANDALUSIA | ANDALUSIA , AL | $38.7M |
| 1990-12-27 | ENTERPRISE SAVINGS BANK, FA | CHICAGO , IL | $432.6M |
| 1990-12-21 | ARKANSAS FSB | LITTLE ROCK , AR | $71.7M |
| 1990-12-15 | MID-AMERICA FS & LA | COLUMBUS , OH | $1.21B |
| 1990-12-14 | COMMUNITY FS & LA | ST. LOUIS , MO | $1.98B |
| 1990-12-14 | COMFED SAVINGS BANK | LOWELL , MA | $1.40B |
Explore: all failures · NJ bank events · 1990 events · events hub