Bank failure · NY

The Union Savings Bank (Patchogue, NY) — failed August 28, 1992

The Union Savings Bank of Patchogue, New York was closed on August 28, 1992 and resolved through a purchase and assumption (insured deposits). Home Federal Savings Ban (NY) took over its insured deposits. At failure it held $491.1M in assets and $529.5M in deposits. The FDIC's estimated loss on the failure is $133.9M (27.3% of assets).