Bank failure · NJ
Polifly Fs & LA (New Milford, NJ) — failed November 20, 1992
Polifly Fs & LA of New Milford, New Jersey was closed on November 20, 1992 and resolved through a purchase and assumption. Branch Sale (NA) took over its insured deposits. At failure it held $458.0M in assets and $374.0M in deposits. The FDIC's estimated loss on the failure is $35.1M (7.7% of assets).
- Closing date
- November 20, 1992
- FDIC certificate #
- 28394
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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