Bank failure · NJ
Prospect Park, FSB (West Paterson, NJ) — failed April 19, 1991
Prospect Park, FSB of West Paterson, New Jersey was closed on April 19, 1991 and resolved through a purchase and assumption. Lakeview Sb (NJ) took over its insured deposits. At failure it held $511.5M in assets and $474.3M in deposits. The FDIC's estimated loss on the failure is $94.8M (18.5% of assets).
- Closing date
- April 19, 1991
- FDIC certificate #
- 29844
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Lakeview Sb
- Insurance fund
- RTC
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