Bank failure · NY

The Seamen'S Bank of Savings, Fs (New York, NY) — failed April 18, 1990

The Seamen'S Bank of Savings, Fs of New York, New York was closed on April 18, 1990 and resolved through a purchase and assumption. The Chase Manhattan Bank(Na (NY) took over its insured deposits. At failure it held $3.4B in assets and $2.1B in deposits. The FDIC's estimated loss on the failure is $148.0M (4.4% of assets).