Bank failure · NY

American S & L Association (New York, NY) — failed May 5, 1995

American S & L Association of New York, New York was closed on May 5, 1995 and resolved through a purchase and assumption. Interbank of New York (NY) took over its insured deposits. At failure it held $64.4M in assets and $57.7M in deposits. The FDIC's estimated loss on the failure is $6.0M (9.3% of assets).