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Friday, September 17, 2010

Bank Failure #120: ISN Bank, Cherry Hill, New Jersey

by Calculated Risk on 9/17/2010 04:18:00 PM

Bankers "found their thrill",
Wild times had with Cherry Hill
Never meant to be.

by Soylent Green is People

From the FDIC: New Century Bank, Phoenixville, Pennsylvania, Assumes All of the Deposits of ISN Bank, Cherry Hill, New Jersey
As of June 30, 2010, ISN Bank had approximately $81.6 million in total assets and $79.7 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be approximately $23.9 million. Compared ... ISN Bank is the 120th FDIC-insured institution to fail in the nation this year, and the first in New Jersey. The last FDIC-insured institution closed in the state was First BankAmericano, Elizabeth, on July 31, 2009.
Off to a quick start ...