Bank failure · NJ

First Fs&la of Hammonton (Hammonton, NJ) — failed May 25, 1988

First Fs&la of Hammonton of Hammonton, New Jersey was closed on May 25, 1988 and resolved through a a/a. Raritan Valley S&la (NJ) took over its insured deposits. At failure it held $237.6M in assets and $298.3M in deposits. The FDIC's estimated loss on the failure is $82.0M (34.5% of assets).