Bank failure · NJ
Suburban National Bank (Hillsborough Twns, NJ) — failed July 26, 1991
Suburban National Bank of Hillsborough Twns, New Jersey was closed on July 26, 1991 and resolved through a purchase and assumption. Provident Savings Bank (NJ) took over its insured deposits. At failure it held $91.1M in assets and $91.3M in deposits. The FDIC's estimated loss on the failure is $27.8M (30.5% of assets).
- Closing date
- July 26, 1991
- FDIC certificate #
- 27157
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Provident Savings Bank
- Insurance fund
- BIF
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