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North Jersey Federal Savings Association

Passaic · failed February 17, 1989 · FDIC certificate 30050

North Jersey Federal Savings Association of Passaic failed on February 17, 1989. It opened on April 1, 1939, 49 years before. At its last report before that it held $278.1 million in assets and $304.3 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 1984, it held $466.8 million. The FDIC estimates that the Resolution Trust Corporation lost $131.5 million on it.

1984-031988-12

Assets at the end$278.1 millionlast report before February 17, 1989

Deposits at the end$304.3 million

Estimated loss to the fund$131.5 millionRTC

Largest in the quarterly reports$466.8 millionSeptember 30, 1984

Equity to assets-29.1%December 31, 1988

Loans not being repaid9.0%noncurrent, December 31, 1988

Return on assets-5.42%a year's rate, December 31, 1988

On the FDIC's list: NORTH JERSEY FEDERAL SAV. ASSOC..

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Also ended in 1989

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City Savings, FSB · Somerset, NJ · $9.8 billion in assets
MBank Dallas, National Association · Dallas, TX · $6.6 billion in assets
Western Savings & Loan · Phoenix, AZ · $5.7 billion in assets
Lincoln Savings & Loan · Irvine, CA · $4.9 billion in assets
University Federal Savings · Houston, TX · $4.5 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.