Bank failure · NJ
Pan American National Bank (Union City, NJ) — failed March 18, 1983
Pan American National Bank of Union City, New Jersey was closed on March 18, 1983 and resolved through a purchase and assumption. Hudson United Bank (NJ) took over its insured deposits. At failure it held $37.2M in assets and $36.3M in deposits. The FDIC's estimated loss on the failure is $5.0M (13.4% of assets).
- Closing date
- March 18, 1983
- FDIC certificate #
- 20461
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Hudson United Bank
- Insurance fund
- FDIC
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