Bank failure · NJ
Action Federal Savings (Sommers Point, NJ) — failed November 15, 1990
Action Federal Savings of Sommers Point, New Jersey was closed on November 15, 1990 and resolved through a purchase and assumption. First FSB of De (DE) took over its insured deposits. At failure it held $262.0M in assets and $199.0M in deposits. The FDIC's estimated loss on the failure is $81.7M (31.2% of assets).
- Closing date
- November 15, 1990
- FDIC certificate #
- 30223
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First FSB of De
- Insurance fund
- RTC
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