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FEDERAL RESERVE BANK OF NEW YORK [ Circular No. 10385 September 27, 1990 J R ECEIV ER SH IP OF YORKVILLE FEDERAL SAVINGS AND LOAN ASSO C. CLOSING OF CITY SAVINGS BANK To All Depository Institutions, and Others Concerned, in the Second Federal Reserve District: Yorkville Federal Savings and Loan Association We have been advised that, effective Septem ber 21, 1990, the Director of the Office of T hrift Supervision, D epartm ent o f the Treasury, determ ined that a ground for the appointm ent of a receiver existed for Yorkville Federal Savings and Loan Association, 1754 Hobart Avenue, Bronx, New York (“Old Yorkville”). Resolution Trust C orpo ration (the “RTC”) was appointed receiver for the purpose of liquidation. Yorkville Federal Savings Association, Bronx, New York (“New Yorkville”), a newly chartered Federal savings association, has been organized to take over the assets and liabilities of Old Yorkville. The RTC has been appointed the conservator of New Yorkville. New Yorkville has agreed to accept presentm ent of cash items payable by, through, or at Old Yorkville and to accept the return of cash items originally deposited at Old Yorkville. New Yorkville will use the routing num ber previously used by Old Yorkville (2260-7232-0). City Savings Bank We have also been advised that, on Septem ber 21, 1990, the D irector of the Office of T hrift Supervision declared City Savings Bank, FSB , Som erset, New Jersey (“Old City Savings”) insolvent and ordered it closed. The RTC was appointed receiver and entered into an agreem ent with Great W estern Federal Savings Bank, Beverly Hills, C alifornia (“Great W estern”) under which Great W estern acquired certain assets and accepted the transfer of certain liabilities with respect to the Florida branches of Old City Savings. The RTC also entered into an agreem ent with First Fidelity Bank, N .A ., Newark, New Jersey (“First Fidelity”) under which First Fidelity acquired certain assets and accepted the transfer of certain liabilities with respect to the nine branches of Old City Savings located in Burlington, Cam den, and G loucester Counties, New Jersey. City Savings, FSB , Som erset, New Jersey (“New City Savings”), a newly chartered Federal savings association, has been organized to take over certain assets and liabilities associated with the remaining branches of Old City Savings. The RTC has been appointed conservator of New City Savings. New City Savings will continue to accept the presentm ent of checks and other cash items bearing the routing num ber o f Old City Savings (2212-7001-7). E. G erald C orrigan , President.
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