Data / Bank failures / 1990 / Freedom National Bank of New York
Freedom National Bank of New York, New York, NY: failed November 9, 1990
Freedom National Bank of New York in New York, New York, failed on November 9, 1990. It held $110.4 million in assets and $101 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $12.3 million (11.2% of its assets). By assets it was the 149th largest of 382 banks closed or assisted in 1990.
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The FDIC's record
- Closed
- November 9, 1990
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $110,444,000
- Total deposits
- $101,021,000
- Estimated cost to the FDIC
- $12,326,611 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 19316
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 |
All bank failures in 1990 · 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.