Bank failure · NJ

Carteret FSB (Madison, NJ) — failed December 4, 1992

Carteret FSB of Madison, New Jersey was closed on December 4, 1992 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $4.8B in assets and $2.7B in deposits. The FDIC's estimated loss on the failure is $24.0M (0.5% of assets).