Data / Bank failures / 1981 / Union Dime Savings Bank
Union Dime Savings Bank, New York, NY: received FDIC assistance December 18, 1981
Union Dime Savings Bank in New York, New York, received open bank assistance from the FDIC on December 18, 1981. It held $1.45 billion in assets and $1.26 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $61.5 million (4.2% of its assets). By assets it was the 4th largest of 40 banks closed or assisted in 1981.
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The FDIC's record
- Closed
- December 18, 1981
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- The Buffalo Savings Bank, Buffalo, NY
- Total assets
- $1,452,985,000
- Total deposits
- $1,261,434,000
- Estimated cost to the FDIC
- $61,503,440 (estimate as of July 31, 2026)
- Insurance fund
- FDIC
- FDIC certificate
- 16051
Other bank failures in New York, 1979 to 1983
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 |
| Mechanics Savings Bank (assistance) | Elmira | October 15, 1982 | $55.3 million | $50.6 million | Syracuse Savings Bank | |
| United Mutual Savings Bank (assistance) | New York | September 24, 1982 | $832.9 million | $777.9 million | $33.1 million | American Savings Bank |
| First FS&LA of New York (assistance) | New York City | September 20, 1982 | $658.9 million | $462.6 million | First FS&LA of Rochester |
Other failed banks The Buffalo Savings Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The New York BK for Savings (assistance) | New York | NY | March 26, 1982 | $3.50 billion | $2.90 billion | $751.4 million | The Buffalo Savings Bank |
| The Western New York Savings BK (assistance) | Buffalo | NY | January 15, 1982 | $1.03 billion | $874.6 million | $30.2 million | The Buffalo Savings Bank |
All bank failures in 1981 · All bank failures in New York · Every failed bank The Buffalo 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.