Bank failure · NJ
Newton Savings Bank, Fsa (Fairfield, NJ) — failed May 3, 1991
Newton Savings Bank, Fsa of Fairfield, New Jersey was closed on May 3, 1991 and resolved through a purchase and assumption. Sussex County State Bank (NJ) took over its insured deposits. At failure it held $40.9M in assets and $38.4M in deposits. The FDIC's estimated loss on the failure is $3.6M (8.8% of assets).
- Closing date
- May 3, 1991
- FDIC certificate #
- 31179
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Sussex County State Bank
- Insurance fund
- RTC
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