Bank failure · NJ

First Jersey S & LA Assoc. (Wyckoff, NJ) — failed February 8, 1991

First Jersey S & LA Assoc. of Wyckoff, New Jersey was closed on February 8, 1991 and resolved through a purchase and assumption. Valley Nb (NJ) took over its insured deposits. At failure it held $287.7M in assets and $257.4M in deposits. The FDIC's estimated loss on the failure is $37.8M (13.1% of assets).