Data / Bank failures / 1991 / Westerleigh Savings
Westerleigh Savings, Staten Island, NY: failed May 31, 1991
Westerleigh Savings in Staten Island, New York, failed on May 31, 1991. It held $147.8 million in assets and $145.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $9.9 million (6.7% of its assets). By assets it was the 103rd largest of 271 banks closed or assisted in 1991.
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The FDIC's record
- Closed
- May 31, 1991
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- None, NA
- Total assets
- $147,849,000
- Total deposits
- $145,160,000
- Estimated cost to the FDIC
- $9,850,284 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 28019
Other bank failures in New York, 1989 to 1993
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Jefferson National Bank | Watertown | February 26, 1993 | $256 million | $248.7 million | $43.5 million | Fleet Bank of New York |
| First New York Bank for Business | New York | November 13, 1992 | $530.7 million | $498.9 million | $164.6 million | Merchants Bank of New Yo |
| The Union Savings Bank | Patchogue | August 28, 1992 | $491.1 million | $529.5 million | $133.9 million | Home Federal Savings Ban |
| Columbia Banking Fed. | Rochester | June 12, 1992 | $1.28 billion | $1.08 billion | $40.6 million | |
| Riverhead Savings Bank | Riverhead | June 12, 1992 | $388.8 million | $316.6 million | Bank of New York | |
| American Savings Bank | White Plains | June 12, 1992 | $3.20 billion | $2.83 billion | $431.3 million | First Fidelity Bank NA N |
| Dollar Dry Dock Bank | White Plains | February 21, 1992 | $4.03 billion | $3.73 billion | $309.1 million | Emigrant Savings Bank |
| Crossland Savings Bank, FSB | Brooklyn | January 24, 1992 | $7.43 billion | $5.51 billion | $753.4 million | Public Stock Sale |
All bank failures in 1991 · All bank failures in New York · 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.