Bank failure · NJ

Community Guardian Bank (Elmwood Park, NJ) — failed July 19, 1991

Community Guardian Bank of Elmwood Park, New Jersey was closed on July 19, 1991 and resolved through a purchase and assumption. Interchange State Bank (NJ) took over its insured deposits. At failure it held $55.3M in assets and $55.0M in deposits. The FDIC's estimated loss on the failure is $16.0M (28.9% of assets).