The Graveyard › Banks › 1992
Security Federal
Vineland, NJ · failed December 4, 1992 · FDIC certificate 30217
Security Federal of Vineland, NJ failed on December 4, 1992. It opened in 1942, 50 years before. At its last report before that it held $1.2 billion in assets and $857.6 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 1989, it held $1.6 billion. The FDIC estimates that the Resolution Trust Corporation lost $41.4 million on it.
1984-031992-09
Assets at the end$1.2 billionlast report before December 4, 1992
Deposits at the end$857.6 million
Estimated loss to the fund$41.4 millionRTC
Largest in the quarterly reports$1.6 billionMarch 31, 1989
Equity to assets3.3%September 30, 1992
Loans not being repaid6.9%noncurrent, September 30, 1992
Return on assets-2.79%a year's rate, September 30, 1992
Staff332full time, September 30, 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.