Bank failure · NJ

City National Bank of New Jersey (Newark, NJ) — failed November 1, 2019

City National Bank of New Jersey of Newark, New Jersey was closed on November 1, 2019 and resolved through a purchase and assumption. Industrial Bank (DC) took over its insured deposits. At failure it held $120.6M in assets and $111.2M in deposits. The FDIC's estimated loss on the failure is $1.2M (1.0% of assets).