Bank failure · NJ

United States Bk of Newark, N.J. (Newark, NJ) — failed March 11, 1982

United States Bk of Newark, N.J. of Newark, New Jersey was closed on March 11, 1982 and resolved through a a/a. Hudson City Savings Bank (NJ) took over its insured deposits. At failure it held $688.5M in assets and $576.4M in deposits. The FDIC's estimated loss on the failure is $77.3M (11.2% of assets).