The Graveyard › Banks › 2011
First State Bank
Cranford, NJ · failed October 14, 2011 · FDIC certificate 58046
First State Bank of Cranford, NJ failed on October 14, 2011. It opened on January 18, 2006, 5 years before. At its last report before that it held $191.9 million in assets and $188.1 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 2010, it held $263.2 million. The FDIC estimates that the Deposit Insurance Fund lost $45.6 million on it.
2006-032011-09
Assets at the end$191.9 millionlast report before October 14, 2011
Deposits at the end$188.1 million
Estimated loss to the fund$45.6 millionDIF
Largest in the quarterly reports$263.2 millionMarch 31, 2010
Equity to assets1.1%September 30, 2011
Loans not being repaid13.4%noncurrent, September 30, 2011
Return on assets-0.82%a year's rate, September 30, 2011
Staff25full time, September 30, 2011
Also ended in 2011
- Superior Bank · Birmingham, AL · $3.0 billion in assets
- First Community Bank · Taos, NM · $2.2 billion in assets
- United Western Bank · Denver, CO · $2.2 billion in assets
- Integra Bank National Association · Evansville, IN · $2.0 billion in assets
- Lydian Private Bank · Palm Beach, FL · $1.7 billion in assets
- Community Banks of Colorado · Greenwood Village, CO · $1.3 billion in assets
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.