Bank failure · NJ

First S&la of New Brunswick (New Brunswick, NJ) — failed January 25, 1982

First S&la of New Brunswick of New Brunswick, New Jersey was closed on January 25, 1982 and resolved through a a/a. City Fs&la (NJ) took over its insured deposits. At failure it held $405.8M in assets and $265.8M in deposits. The FDIC's estimated loss on the failure is $9.5M (2.4% of assets).