Bank failure · NY

Reliance Bank (White Plains, NY) — failed March 19, 2004

Reliance Bank of White Plains, New York was closed on March 19, 2004 and resolved through a purchase and assumption. Union State Bank (NY) took over its insured deposits. At failure it held $28.6M in assets and $27.9M in deposits. The FDIC's estimated loss on the failure is $919K (3.2% of assets).