Data / Bank failures / 1992 / American Savings Bank
American Savings Bank, White Plains, NY: failed June 12, 1992
American Savings Bank in White Plains, New York, failed on June 12, 1992. First Fidelity Bank NA N of New York City, NY, took over its deposits. It held $3.20 billion in assets and $2.83 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $431.3 million (13.5% of its assets). By assets it was the 8th largest of 181 banks closed or assisted in 1992.
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The FDIC's record
- Closed
- June 12, 1992
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- First Fidelity Bank NA N, New York City, NY
- Total assets
- $3,202,492,000
- Total deposits
- $2,827,416,000
- Estimated cost to the FDIC
- $431,311,367 (estimate as of July 31, 2026)
- Charter
- Savings institution
- Insurance fund
- BIF
- FDIC certificate
- 16017
Other bank failures in New York, 1990 to 1994
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Jefferson National Bank | Watertown | February 26, 1993 | $256 million | $248.7 million | $43.5 million | Fleet Bank of New York |
| First New York Bank for Business | New York | November 13, 1992 | $530.7 million | $498.9 million | $164.6 million | Merchants Bank of New Yo |
| The Union Savings Bank | Patchogue | August 28, 1992 | $491.1 million | $529.5 million | $133.9 million | Home Federal Savings Ban |
| Columbia Banking Fed. | Rochester | June 12, 1992 | $1.28 billion | $1.08 billion | $40.6 million | |
| Riverhead Savings Bank | Riverhead | June 12, 1992 | $388.8 million | $316.6 million | Bank of New York | |
| Dollar Dry Dock Bank | White Plains | February 21, 1992 | $4.03 billion | $3.73 billion | $309.1 million | Emigrant Savings Bank |
| Crossland Savings Bank, FSB | Brooklyn | January 24, 1992 | $7.43 billion | $5.51 billion | $753.4 million | Public Stock Sale |
| American National Bank of New York | Fleischmanns | January 24, 1992 | $18 million | $17.8 million | $3.6 million |
Other failed banks First Fidelity Bank NA N took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Howard Savings Bank | Newark | NJ | October 2, 1992 | $3.46 billion | $3.38 billion | $68 million | First Fidelity Bank NA N |
All bank failures in 1992 · All bank failures in New York · Every failed bank First Fidelity Bank NA N took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.