Data / Bank failures / 1981 / Mohawk S&LA
Mohawk S&LA, Newark, NJ: received FDIC assistance December 9, 1981
Mohawk S&LA in Newark, New Jersey, received open bank assistance from the FDIC on December 9, 1981. It held $91.1 million in assets and $76.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.7 million (5.2% of its assets). By assets it was the 21st largest of 40 banks closed or assisted in 1981.
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
- December 9, 1981
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- City FS&LA, Elizabeth, NJ
- Total assets
- $91,082,275
- Total deposits
- $76,252,498
- Estimated cost to the FDIC
- $4,711,095 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 28337
Other bank failures in New Jersey, 1979 to 1983
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Suburban S&LA (assistance) | Wayne | August 31, 1983 | $2.02 billion | $1.75 billion | $60 million | Anchor SB FSB NJ |
| Pan American National Bank | Union City | March 18, 1983 | $37.2 million | $36.3 million | $5 million | Hudson United Bank |
| Barton S&LA (assistance) | Newark | October 1, 1982 | $170.4 million | $123 million | $11.8 million | Carteret S&LA FA |
| River Edge S&LA (assistance) | River Edge | August 2, 1982 | $61.7 million | $47.5 million | $4.6 million | Carteret S&LA |
| Princeton S&LA (assistance) | Princeton | July 31, 1982 | $249.6 million | $197.2 million | Security S&LA | |
| First FS&LA of Burlington Cty (assistance) | Cinnamonson | July 31, 1982 | $135.2 million | $104.8 million | $4 million | Security SAVINGS&LOAN Assn |
| United States BK of Newark, N.J. (assistance) | Newark | March 11, 1982 | $688.5 million | $576.4 million | $77.3 million | Hudson City Savings Bank |
| First S&LA of New Brunswick (assistance) | New Brunswick | January 25, 1982 | $405.8 million | $265.8 million | $9.5 million | City FS&LA |
Other failed banks City FS&LA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First S&LA of New Brunswick (assistance) | New Brunswick | NJ | January 25, 1982 | $405.8 million | $265.8 million | $9.5 million | City FS&LA |
| Boca Raton FS&LA (assistance) | Boca Raton | FL | December 9, 1981 | $275.8 million | $236.2 million | $8.8 million | City FS&LA |
All bank failures in 1981 · All bank failures in New Jersey · Every failed bank City FS&LA 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.