Bank failure · NY
Empire of America FSB (Buffalo, NY) — failed January 24, 1990
Empire of America FSB of Buffalo, New York was closed on January 24, 1990 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $8.2B in assets and $8.0B in deposits. The FDIC's estimated loss on the failure is $1.2B (15.2% of assets).
- Closing date
- January 24, 1990
- FDIC certificate #
- 30321
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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