Bank failure · NJ

Mohawk S&la (Newark, NJ) — failed December 9, 1981

Mohawk S&la of Newark, New Jersey was closed on December 9, 1981 and resolved through a a/a. City Fs&la (NJ) took over its insured deposits. At failure it held $91.1M in assets and $76.3M in deposits. The FDIC's estimated loss on the failure is $4.7M (5.2% of assets).