The Graveyard › Banks › 1992
The Howard Savings Bank
Newark, NJ · failed October 2, 1992 · FDIC certificate 16146
The Howard Savings Bank of Newark, NJ failed on October 2, 1992. It opened on May 5, 1857, 135 years before. At its last report before that it held $3.5 billion in assets and $3.4 billion in deposits. At its largest in the FDIC's quarterly reports, on December 31, 1988, it held $5.2 billion. The FDIC estimates that the Bank Insurance Fund lost $68.0 million on it.
1984-031992-06
Assets at the end$3.5 billionlast report before October 2, 1992
Deposits at the end$3.4 billion
Estimated loss to the fund$68.0 millionBIF
Largest in the quarterly reports$5.2 billionDecember 31, 1988
Equity to assets1.9%June 30, 1992
Loans not being repaid17.2%noncurrent, June 30, 1992
Return on assets-1.39%a year's rate, June 30, 1992
Staff1,158full time, June 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
- Transohio, FSB · Cleveland, OH · $3.4 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.