Friday, April 20, 2012

Bank Failure #17 in 2012: Fort Lee Federal Savings Bank, FSB, Fort Lee, NJ

by Bill McBride on 4/20/2012 06:14:00 PM

Washed up on shore
Near the George Washington Bridge
Lies a Fort Lee Bank

by Soylent Green is People

From the FDIC: Alma Bank, Astoria, New York, Assumes All of the Deposits of Fort Lee Federal Savings Bank, FSB, Fort Lee, New Jersey
As of December 31, 2011, Fort Lee Federal Savings Bank, FSB had approximately $51.9 million in total assets and $50.7 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $14.0 million. ... Fort Lee Federal Savings Bank, FSB is the seventeenth FDIC-insured institution to fail in the nation this year, and the first in New Jersey.
I was wondering if the FDIC was taking April off ...

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