Bank failure · NJ
Empire Savings Bank (Hammonton, NJ) — failed December 14, 1990
Empire Savings Bank of Hammonton, New Jersey was closed on December 14, 1990 and resolved through a purchase and assumption. United Jersey Bank/So., NA (NJ) took over its insured deposits. At failure it held $219.3M in assets and $193.7M in deposits. The FDIC's estimated loss on the failure is $28.3M (12.9% of assets).
- Closing date
- December 14, 1990
- FDIC certificate #
- 28473
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- United Jersey Bank/So., NA
- Insurance fund
- RTC
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