Data / Bank failures / 2009 / First Bankamericano
First Bankamericano, Elizabth, NJ: failed July 31, 2009
First Bankamericano in Elizabth, New Jersey, failed on July 31, 2009. Crown Bank of Brick, NJ, took over its deposits. It held $163.4 million in assets and $155.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $20 million (12.3% of its assets). By assets it was the 103rd largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- July 31, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Crown Bank, Brick, NJ
- Total assets
- $163,372,000
- Total deposits
- $155,463,000
- Estimated cost to the FDIC
- $20,048,318 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 34270
Other bank failures in New Jersey, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First State Bank | Cranford | October 14, 2011 | $191.9 million | $188.1 million | $45.6 million | Northfield Bank |
| Isn Bank | Cherry Hill | September 17, 2010 | $81.6 million | $79.7 million | $18.9 million | New Century Bank |
| Citizens Community Bank | Ridgewood | May 1, 2009 | $40.7 million | $40.7 million | $18.2 million | North Jersey Community Bank |
All bank failures in 2009 · All bank failures in New Jersey · 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.