Bank Failure
Volunteer FSA
BankRegReports is independent of Volunteer FSA and never asks for online banking logins or passwords.
Closed June 5, 1992 · Little Ferry, NJ · FDIC Cert #27728.
- Closing date
- June 5, 1992
- Headquarters
- Little Ferry, NJ
- FDIC Certificate
- 27728
- Total assets at closing
- $51.2M
- Total deposits at closing
- $49.4M
- Estimated loss to the insurance fund
- $5.2M
- Insurance fund
- Resolution Trust Corporation (RTC)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Interchange State Bank
Context
On June 5, 1992, regulators closed Volunteer FSA, headquartered in Little Ferry, NJ. At closing, the institution held approximately $51.2M in assets and $49.4M in deposits. The FDIC record names Interchange State Bank as the acquiring institution in the resolution. The estimated cost to the Resolution Trust Corporation (RTC) was approximately $5.2M.
By assets at closing this is the 1634th largest of the 3,526 bank failures in the FDIC record, and the 120th of 179 in 1992. 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 Volunteer FSA fail?
Volunteer FSA was closed by regulators on June 5, 1992.
Who acquired Volunteer FSA?
The FDIC record names Interchange State Bank as the acquiring institution in the resolution of Volunteer FSA.
How big was Volunteer FSA when it failed?
Volunteer FSA had approximately $51.2M in total assets and $49.4M in deposits at the time of failure.
Other failures in 1992
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 1992 | The Rushville National Bank | $41.6M |
| Dec 18, 1992 | The Bremen State Bank | $2.7M |
| Dec 11, 1992 | Meritor Savings Bank | $4.13B |
| Dec 11, 1992 | Eastland Savings Bank | $515.3M |
| Dec 11, 1992 | Eastland Bank | $85.4M |
| Dec 11, 1992 | Sailors & Merchants B&T Co. | $34.8M |
| Dec 8, 1992 | Palm Beach FSA | $59.4M |
| Dec 4, 1992 | Carteret FSB | $4.83B |
Explore: all failures · NJ bank events · 1992 events · events hub