Data / Bank failures / 1991 / Nutley Savings & Loan
Nutley Savings & Loan, Nutley, NJ: failed September 27, 1991
Nutley Savings & Loan in Nutley, New Jersey, failed on September 27, 1991. Valley NB of Wayne, NJ, took over its deposits. It held $188.6 million in assets and $178.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $17.9 million (9.5% of its assets). By assets it was the 92nd largest of 271 banks closed or assisted in 1991.
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
- September 27, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Valley NB, Wayne, NJ
- Total assets
- $188,649,000
- Total deposits
- $178,510,000
- Estimated cost to the FDIC
- $17,887,405 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 28742
Other bank failures in New Jersey, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Security Federal | Vineland | December 4, 1992 | $1.19 billion | $857.6 million | $41.4 million | Meridian Bank, NJ |
| Carteret FSB | Madison | December 4, 1992 | $4.83 billion | $2.72 billion | $24 million | |
| Polifly FS & La | New Milford | November 20, 1992 | $458 million | $374 million | $35.1 million | |
| The Howard Savings Bank | Newark | October 2, 1992 | $3.46 billion | $3.38 billion | $68 million | First Fidelity Bank NA N |
| Hometown Bank | Edison | September 25, 1992 | $25.2 million | $24.8 million | $7.3 million | Somerset Trust Co |
| Highlands Community Bank, N.A. | Clinton Township | September 25, 1992 | $19.7 million | $19.5 million | $2.5 million | Somerset Trust Co |
| Volunteer Fsa | Little Ferry | June 5, 1992 | $51.2 million | $49.4 million | $5.2 million | Interchange State Bank |
| Powder Mill Bank | Morris Plains | May 22, 1992 | $49.6 million | $47.9 million | $6.9 million | Valley National Bank |
Other failed banks Valley NB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Jersey S & La Assoc. | Wyckoff | NJ | February 8, 1991 | $287.7 million | $257.4 million | $37.8 million | Valley NB |
| North Jersey Federal Sav. Assoc. | Passaic | NJ | February 17, 1989 | $278.1 million | $304.3 million | $131.5 million | Valley NB |
All bank failures in 1991 · All bank failures in New Jersey · Every failed bank Valley NB 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.