Bank failure · NJ
Colonial Federal Savings Assoc. (Roselle Park, NJ) — failed November 9, 1989
Colonial Federal Savings Assoc. of Roselle Park, New Jersey was closed on November 9, 1989 and resolved through a payout (deposit payoff). Branch Sale (NA) took over its insured deposits. At failure it held $427.1M in assets and $338.0M in deposits. The FDIC's estimated loss on the failure is $103.5M (24.2% of assets).
- Closing date
- November 9, 1989
- FDIC certificate #
- 30190
- Resolution
- Payout (deposit payoff) (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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