Bank failure · NY

Island S&la (Hempstead, NY) — failed November 15, 1982

Island S&la of Hempstead, New York was closed on November 15, 1982 and resolved through a a/a. Empire of America Fsa (FL) took over its insured deposits. At failure it held $284.5M in assets and $221.0M in deposits. The FDIC's estimated loss on the failure is $12.1M (4.2% of assets).