Bank failure · NY

American Savings Bank (White Plains, NY) — failed June 12, 1992

American Savings Bank of White Plains, New York was closed on June 12, 1992 and resolved through a purchase and assumption (insured deposits). First Fidelity Bank NA N (NY) took over its insured deposits. At failure it held $3.2B in assets and $2.8B in deposits. The FDIC's estimated loss on the failure is $431.3M (13.5% of assets).