Bank failure · NJ
Irving Savings & Loan (Paterson, NJ) — failed January 18, 1991
Irving Savings & Loan of Paterson, New Jersey was closed on January 18, 1991 and resolved through a purchase and assumption. Hudson United Bank (NJ) took over its insured deposits. At failure it held $222.5M in assets and $235.8M in deposits. The FDIC's estimated loss on the failure is $25.7M (11.6% of assets).
- Closing date
- January 18, 1991
- FDIC certificate #
- 30138
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Hudson United Bank
- Insurance fund
- RTC
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