Bank Failure
UNITED STATES BK OF NEWARK, N.J.
Closed March 11, 1982 · NEWARK, NJ · FDIC Cert #12015.
- Closing date
- March 11, 1982
- Headquarters
- NEWARK, NJ
- FDIC Certificate
- 12015
- Total assets at closing
- $688,491,000
- Total deposits at closing
- $576,360,000
- Estimated loss to DIF
- $77,340,000
- Resolution type
- other
- Acquirer
- HUDSON CITY SAVINGS BANK (FDIC Cert #1906)
Context
On March 11, 1982, regulators closed UNITED STATES BK OF NEWARK, N.J., headquartered in NEWARK, NJ. At closing, the institution held approximately $688,491,000 in assets and $576,360,000 in deposits. The FDIC arranged a resolution under which HUDSON CITY SAVINGS BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $77,340,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 1982
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 1982-12-20 | SOUTH EAST FS&LA | LOUISVILLE, KY | $132,146,000 |
| 1982-12-20 | PEACHTREE FS&LA | ATLANTA, GA | $104,979,000 |
| 1982-12-20 | FIRST HOME FS&LA | OWENSBORO, KY | $83,632,000 |
| 1982-12-20 | GARFIELD FS&LA | POTTSTOWN, PA | $70,419,000 |
| 1982-12-20 | MID-CITY FS&LA | NORTH WALES, PA | $47,779,000 |
| 1982-12-20 | SECURITY FS&LA | MAYFIELD, KY | $45,862,000 |
| 1982-12-20 | FIRST FS&LA OF CRISP COUNTY | CORDELE, GA | $44,595,000 |
| 1982-12-20 | CLAY COUNTY FS&LA | WEST POINT, MS | $14,082,000 |
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