Data / Bank failures / 1991 / The First National Bank of Toms River
The First National Bank of Toms River, Toms River, NJ: failed May 22, 1991
The First National Bank of Toms River in Toms River, New Jersey, failed on May 22, 1991. First Fidelity Bank, Nation of Newark, NJ, took over its deposits. It held $1.42 billion in assets and $1.38 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $115.6 million (8.2% of its assets). By assets it was the 21st largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- May 22, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Fidelity Bank, Nation, Newark, NJ
- Total assets
- $1,417,531,000
- Total deposits
- $1,380,815,000
- Estimated cost to the FDIC
- $115,612,171 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 6499
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 First Fidelity Bank, Nation took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Capitol Bank & Trust | Oklahoma City | OK | August 16, 1990 | $33.1 million | $32.5 million | $4.1 million | First Fidelity Bank, Nation |
All bank failures in 1991 · All bank failures in New Jersey · Every failed bank First Fidelity Bank, Nation 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.