Bank failure · NJ
Mainstay Federal Savings (Red Bank, NJ) — failed July 20, 1990
Mainstay Federal Savings of Red Bank, New Jersey was closed on July 20, 1990 and resolved through a purchase and assumption. Bankers Savings (NJ) took over its insured deposits. At failure it held $226.1M in assets and $165.9M in deposits. The FDIC's estimated loss on the failure is $52.5M (23.2% of assets).
- Closing date
- July 20, 1990
- FDIC certificate #
- 30140
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bankers Savings
- Insurance fund
- RTC
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