Bank failure · PA
New World National Bank (Pittsburgh, PA) — failed October 22, 1987
New World National Bank of Pittsburgh, Pennsylvania was closed on October 22, 1987 and resolved through a purchase and assumption. Lincoln National Bank (PA) took over its insured deposits. At failure it held $14.7M in assets and $14.8M in deposits. The FDIC's estimated loss on the failure is $2.1M (14.3% of assets).
- Closing date
- October 22, 1987
- FDIC certificate #
- 21951
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Lincoln National Bank
- Insurance fund
- FDIC
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