The Graveyard › Banks › 1990
Mountain Ridge State Bank
West Orange, NJ · failed October 5, 1990 · FDIC certificate 21619
Mountain Ridge State Bank of West Orange, NJ failed on October 5, 1990. It opened on June 10, 1974, 16 years before. At its last report before that it held $51.4 million in assets and $50.2 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1989, it held $70.7 million. The FDIC estimates that the Bank Insurance Fund lost $12.8 million on it.
1984-031990-06
Assets at the end$51.4 millionlast report before October 5, 1990
Deposits at the end$50.2 million
Estimated loss to the fund$12.8 millionBIF
Largest in the quarterly reports$70.7 millionJune 30, 1989
Equity to assets1.5%June 30, 1990
Loans not being repaid15.9%noncurrent, June 30, 1990
Return on assets0.02%a year's rate, June 30, 1990
Staff31full time, June 30, 1990
Also ended in 1990
- Imperial Federal Savings Association · San Diego, CA · $9.6 billion in assets
- Franklin Fsa · Ottawa · $9.3 billion in assets
- Centrust Bank, SB · Miami, FL · $8.2 billion in assets
- Empire of America FSB · Buffalo, NY · $8.2 billion in assets
- Merabank FSB · Phoenix, AZ · $6.3 billion in assets
- Southwest Savings Association · Dallas, TX · $5.3 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.