Data / Bank failures / 1992 / First New York Bank for Business
First New York Bank for Business, New York, NY: failed November 13, 1992
First New York Bank for Business in New York, New York, failed on November 13, 1992. Merchants Bank of New Yo of New York City, NY, took over its deposits. It held $530.7 million in assets and $498.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $164.6 million (31% of its assets). By assets it was the 30th largest of 181 banks closed or assisted in 1992.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- November 13, 1992
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- Merchants Bank of New Yo, New York City, NY
- Total assets
- $530,651,000
- Total deposits
- $498,907,000
- Estimated cost to the FDIC
- $164,561,479 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 22073
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 |
| 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 |
All bank failures in 1992 · All bank failures in New York · 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.