Data / Bank failures / 2011 / First State Bank
First State Bank, Cranford, NJ: failed October 14, 2011
First State Bank in Cranford, New Jersey, failed on October 14, 2011. Northfield Bank of Staten Island, NY, took over its deposits. It held $191.9 million in assets and $188.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $45.6 million (23.8% of its assets). By assets it was the 49th largest of 92 banks closed or assisted in 2011.
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The FDIC's record
- Closed
- October 14, 2011
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Northfield Bank, Staten Island, NY
- Total assets
- $191,852,000
- Total deposits
- $188,099,000
- Estimated cost to the FDIC
- $45,629,308 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 58046
Other bank failures in New Jersey, 2009 to 2013
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Fort Lee Federal Savings Bank, FSB | Fort Lee | April 20, 2012 | $48.9 million | $47.8 million | $11.9 million | Alma Bank |
| Isn Bank | Cherry Hill | September 17, 2010 | $81.6 million | $79.7 million | $18.9 million | New Century Bank |
| First Bankamericano | Elizabth | July 31, 2009 | $163.4 million | $155.5 million | $20 million | Crown 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 2011 · 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.