Bank failure · PA

Metrobank of Philadelphia (Philadelphia, PA) — failed March 8, 1996

Metrobank of Philadelphia of Philadelphia, Pennsylvania was closed on March 8, 1996 and resolved through a purchase and assumption (insured deposits). Jefferson Bank (PA) took over its insured deposits. At failure it held $40.4M in assets and $39.2M in deposits. The FDIC's estimated loss on the failure is $7.7M (19.1% of assets).