Data / Bank failures / 1990 / Central Federal Savings
Central Federal Savings, Mineola, NY: failed December 7, 1990
Central Federal Savings in Mineola, New York, failed on December 7, 1990. Chemical Bank of New York, NY, took over its deposits. It held $890.8 million in assets and $848.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $247.6 million (27.8% of its assets). By assets it was the 35th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- December 7, 1990
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Chemical Bank, New York, NY
- Total assets
- $890,776,000
- Total deposits
- $848,439,000
- Estimated cost to the FDIC
- $247,558,808 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- RTC
- FDIC certificate
- 29827
Other bank failures in New York, 1988 to 1992
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 | |
| American Savings Bank | White Plains | June 12, 1992 | $3.20 billion | $2.83 billion | $431.3 million | First Fidelity Bank NA N |
| 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 Chemical Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Community National Bank and Trust | New York | NY | November 7, 1991 | $333.8 million | $354.2 million | $95.9 million | Chemical Bank |
All bank failures in 1990 · All bank failures in New York · Every failed bank Chemical Bank 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.