Data / Bank failures / 1993 / Jefferson National Bank
Jefferson National Bank, Watertown, NY: failed February 26, 1993
Jefferson National Bank in Watertown, New York, failed on February 26, 1993. Fleet Bank of New York of Albany, NY, took over its deposits. It held $256 million in assets and $248.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $43.5 million (17% of its assets). By assets it was the 6th largest of 50 banks closed or assisted in 1993.
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The FDIC's record
- Closed
- February 26, 1993
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- Fleet Bank of New York, Albany, NY
- Total assets
- $256,014,000
- Total deposits
- $248,652,000
- Estimated cost to the FDIC
- $43,540,066 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 7135
Other bank failures in New York, 1991 to 1995
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| American S & L Association | New York | May 5, 1995 | $64.4 million | $57.7 million | $6 million | Interbank of New York |
| 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 |
All bank failures in 1993 · 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.