Bank failure · NY
The Park Avenue Bank (New York, NY) — failed March 12, 2010
The Park Avenue Bank of New York, New York was closed on March 12, 2010 and resolved through a purchase and assumption. Valley National Bank (NJ) took over its insured deposits. At failure it held $520.1M in assets and $494.5M in deposits. The FDIC's estimated loss on the failure is $76.4M (14.7% of assets).
- Closing date
- March 12, 2010
- FDIC certificate #
- 27096
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Valley National Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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