Data / Bank failures / 1983 / Pan American National Bank
Pan American National Bank, Union City, NJ: failed March 18, 1983
Pan American National Bank in Union City, New Jersey, failed on March 18, 1983. Hudson United Bank of Union City, NJ, took over its deposits. It held $37.2 million in assets and $36.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $5 million (13.4% of its assets). By assets it was the 57th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- March 18, 1983
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Hudson United Bank, Union City, NJ
- Total assets
- $37,172,000
- Total deposits
- $36,307,000
- Estimated cost to the FDIC
- $4,966,978 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 20461
Other bank failures in New Jersey, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Orange Savings Bank (assistance) | Livingston | September 28, 1984 | $513.4 million | $498 million | $7.3 million | Hudson City Savings Bank |
| Suburban S&LA (assistance) | Wayne | August 31, 1983 | $2.02 billion | $1.75 billion | $60 million | Anchor SB FSB NJ |
| 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 Hudson United Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Connecticut Bank of Commerce | Stamford | CT | June 26, 2002 | $384.2 million | $344.4 million | $53.8 million | Hudson United Bank |
| Broadway Bank | Paterson | NJ | March 13, 1992 | $400.5 million | $383.3 million | $76.2 million | Hudson United Bank |
| Irving Savings & Loan | Paterson | NJ | January 18, 1991 | $222.5 million | $235.8 million | $25.7 million | Hudson United Bank |
All bank failures in 1983 · All bank failures in New Jersey · Every failed bank Hudson United 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.