Bank failure · NJ

Reliance Fs&la (Rahway, NJ) — failed November 2, 1988

Reliance Fs&la of Rahway, New Jersey was closed on November 2, 1988 and resolved through a a/a. Crossland Savings FSB (UT) took over its insured deposits. At failure it held $64.3M in assets and $82.5M in deposits. The FDIC's estimated loss on the failure is $11.4M (17.7% of assets).