Bank failure · NJ

Broadway Bank (Paterson, NJ) — failed March 13, 1992

Broadway Bank of Paterson, New Jersey was closed on March 13, 1992 and resolved through a insured deposit transfer. Hudson United Bank (NJ) took over its insured deposits. At failure it held $400.5M in assets and $383.3M in deposits. The FDIC's estimated loss on the failure is $76.2M (19.0% of assets).