The Graveyard › Banks › 1992
Powder Mill Bank
Morris Plains, NJ · failed May 22, 1992 · FDIC certificate 27001
Powder Mill Bank of Morris Plains, NJ failed on May 22, 1992. It opened on June 29, 1987, 4 years before. At its last report before that it held $49.6 million in assets and $47.9 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1990, it held $74.0 million. The FDIC estimates that the Bank Insurance Fund lost $6.9 million on it.
1987-061992-03
Assets at the end$49.6 millionlast report before May 22, 1992
Deposits at the end$47.9 million
Estimated loss to the fund$6.9 millionBIF
Largest in the quarterly reports$74.0 millionMarch 31, 1990
Equity to assets1.8%March 31, 1992
Loans not being repaid12.0%noncurrent, March 31, 1992
Return on assets-2.13%a year's rate, March 31, 1992
Staff27full time, March 31, 1992
Also ended in 1992
- Homefed Bank, FA · San Diego, CA · $12.2 billion in assets
- Crossland Savings Bank, FSB · Brooklyn, NY · $7.4 billion in assets
- Carteret FSB · Madison, NJ · $4.8 billion in assets
- Meritor Savings Bank · Philadelphia, PA · $4.1 billion in assets
- Dollar Dry Dock Bank · White Plains, NY · $4.0 billion in assets
- The Howard Savings Bank · Newark, NJ · $3.5 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.