Bank failure · NJ

Highlands Community Bank, N.A. (Clinton Township, NJ) — failed September 25, 1992

Highlands Community Bank, N.A. of Clinton Township, New Jersey was closed on September 25, 1992 and resolved through a purchase and assumption. Somerset Trust Co (NJ) took over its insured deposits. At failure it held $19.7M in assets and $19.5M in deposits. The FDIC's estimated loss on the failure is $2.5M (12.7% of assets).