Bank failure · NJ
City Savings, FSB (Somerset, NJ) — failed December 8, 1989
City Savings, FSB of Somerset, New Jersey was closed on December 8, 1989 and resolved through a insured deposit transfer. Branch Sale (NA) took over its insured deposits. At failure it held $9.8B in assets and $7.3B in deposits. The FDIC's estimated loss on the failure is $1.6B (16.0% of assets).
- Closing date
- December 8, 1989
- FDIC certificate #
- 28406
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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