Data / Bank failures / 1982 / Mechanics Savings Bank
Mechanics Savings Bank, Elmira, NY: received FDIC assistance October 15, 1982
Mechanics Savings Bank in Elmira, New York, received open bank assistance from the FDIC on October 15, 1982. It held $55.3 million in assets and $50.6 million in deposits at its last report. By assets it was the 64th largest of 119 banks closed or assisted in 1982.
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The FDIC's record
- Closed
- October 15, 1982
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Syracuse Savings Bank, Syracuse, NY
- Total assets
- $55,254,000
- Total deposits
- $50,608,000
- Insurance fund
- FDIC
- FDIC certificate
- 15931
Other bank failures in New York, 1980 to 1984
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Suburbia FS&LA (assistance) | Garden City | October 1, 1984 | $660.2 million | $630.8 million | $16 million | Fidelity New York FA |
| Century FS&LA (assistance) | Cedarhurst | August 10, 1984 | $651.7 million | $724.5 million | $6.5 million | Home Savings of America FA |
| Auburn Savings Bank (assistance) | Auburn | October 1, 1983 | $133.2 million | $131.4 million | Syracuse Savings Bank | |
| Washington FS&LA (assistance) | New York | August 31, 1983 | $645 million | $548.3 million | $11.8 million | Ensign Bank FSB |
| Dry Dock Savings Bank (assistance) | New York | February 9, 1983 | $2.45 billion | $2.04 billion | $59.4 million | Dollar-Dry SB of Ny |
| South Shore FS&LA (assistance) | Massapequa | November 15, 1982 | $366.1 million | $272.2 million | $19.5 million | Empire of America Fsa |
| Island S&LA (assistance) | Hempstead | November 15, 1982 | $284.5 million | $221 million | $12.1 million | Empire of America Fsa |
| United Mutual Savings Bank (assistance) | New York | September 24, 1982 | $832.9 million | $777.9 million | $33.1 million | American Savings Bank |
Other failed banks Syracuse Savings Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Syracuse Savings Bank (assistance) | Syracuse | NY | May 13, 1987 | $1.18 billion | $1.10 billion | Syracuse Savings Bank | |
| Auburn Savings Bank (assistance) | Auburn | NY | October 1, 1983 | $133.2 million | $131.4 million | Syracuse Savings Bank |
All bank failures in 1982 · All bank failures in New York · Every failed bank Syracuse Savings Bank took over · 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.