Bank failure · NJ

Mid-Jersey National Bank (Somerville, NJ) — failed September 20, 1991

Mid-Jersey National Bank of Somerville, New Jersey was closed on September 20, 1991 and resolved through a insured deposit transfer. United Jersey Bank/Central, (NJ) took over its insured deposits. At failure it held $29.5M in assets and $28.5M in deposits. The FDIC's estimated loss on the failure is $6.0M (20.4% of assets).