Bank failure · NJ

The Howard Savings Bank (Newark, NJ) — failed October 2, 1992

The Howard Savings Bank of Newark, New Jersey was closed on October 2, 1992 and resolved through a purchase and assumption. First Fidelity Bank NA N (NJ) took over its insured deposits. At failure it held $3.5B in assets and $3.4B in deposits. The FDIC's estimated loss on the failure is $68.0M (2.0% of assets).