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FEDERAL RESERVE BANK OF NEW YORK [ Circular No. 10456 " 1 May 7, 1991 Closing of Newton Savings Bank, SLA To All Depository Institutions, and Others Concerned, in the Second Federal Reserve District: We have been advised that effective May 3, 1991 the Director o f the Office o f Thrift Supervision, Department of the Treasury, declared Newton Savings Bank, SLA, Newton, New Jersey, (“Old Newton”) insolvent and ordered it closed. The Resolution Trust Corporation (the “RTC”) was appointed receiver. Upon its ap pointment, the receiver took possession of all o f the assets of Old Newton. The re ceiver entered into a purchase and assumption agreement with Newton Savings Bank, FSB, Newton, New Jersey, (“New Newton”), a newly chartered federal sav ings association, whereby New Newton acquired certain assets and accepted the transfer o f certain liabilities of the failed Old Newton. The RTC has been appointed conservator o f New Newton. New Newton has agreed to accept presentment o f cash items payable by, through, or at Old Newton and to accept the return of cash items originally deposited at Old Newton. New Newton will use the routing number previously used by Old Newton (2212-7207-3). E. G e r a l d C o r r i g a n , President.
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