Full text of Federal Reserve Bank of New York Circulars : 10523. Closing of Certain Depository Institutions

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FEDERAL RESERVE BANK
OF NEW YORK

[

Circular No. 10523 "I
March 17, 1992

Closing of Certain Depository Institutions

To All Depository Institutions, and Others
Concerned, in the Second Federal Reserve District:

Broadway Bank & TVust Company
On M arch 13, 1992, the Com m issioner of Banking and Finance of the State of New Jersey issued an order pro­
viding for the closing o f Broadway Bank & Trust Company, Paterson, New Jersey (“Broadway”) (routing num ber
0212-0605-8). The Federal D eposit Insurance Corporation (“FDIC”) was appointed receiver and, effective the close
of business March 13, 1992, transferred certain assets and liabilities of Broadway to Hudson United Bank, Union
City, New Jersey (“Hudson”). Hudson has agreed to continue receiving certain paym ents transactions o f Broadway,
including checks and autom ated clearinghouse transactions bearing the routing num ber o f Broadway.

Central Federal Savings Bank
On M arch 13, 1992, the D irector of the Office of T hrift Supervision, D epartm ent of the Treasury (“OTS”),
declared Central Federal Savings Bank, Long Beach, New York (“C entral”) (routing num ber 2214-7192-6) insolvent
and ordered it closed. The Resolution Trust Corporation (“RTC”) was appointed receiver and, effective the close
of business M arch 13, 1992, transferred certain assets and liabilities of Central to Chem ical Bank, New York, New
York (“C hem ical”). Chem ical has agreed to continue receiving certain paym ents transactions of C entral, including
checks and autom ated clearinghouse transactions bearing the routing num ber o f Central.

Danbury Federal Savings and Loan Association
On M arch 13, 1992, the OTS declared D anbury Federal Savings and Loan Association, Danbury, Connecticut
(“D anbury”) (routing num ber 2211-7249-0) insolvent and ordered it closed. The RTC was appointed receiver and,
effective the close of business M arch 13, 1992, transferred certain assets and liabilities of D anbury to Bristol Federal
Savings Bank, Bristol, Connecticut (“Bristol”). Bristol has agreed to continue receiving certain paym ents transac­
tions of Danbury, including checks and automated clearinghouse transactions bearing the routing num ber of
Danbury.

Dollar Dry Dock Bank
On February 21, 1992, the Superintendent of Banks of the State of New York closed D ollar D ry D ock Bank,
W hite Plains, New York (“Dollar D ry D ock”) (routing num ber 2260-7031-9) and appointed the FDIC as receiver.
Effective the sam e date, the FDIC transferred certain assets and liabilities of D ollar D ry Dock to Em igrant Savings
Bank, New York, New York (“Em igrant”). Em igrant has agreed to continue receiving certain paym ents transactions
of Dollar D ry D ock, including checks and autom ated clearinghouse transactions bearing the routing num ber of Dol­
lar Dry Dock.




(OVER)

Irving Federal Savings and Loan Association
On February 21, 1992, the OTS issued an order providing for the closing of Irving Federal Saving and Loan
Association, Paterson, New Jersey (“Irving”) (routing num ber 2212-7116-8). The RTC was appointed receiver and,
effective the close of business February 2 1 ,1 9 9 2 , transferred certain assets and liabilities o f Irving to Hudson United
Bank, Union City, New Jersey (“Hudson”). Hudson has agreed to continue receiving certain paym ents transactions
of Irving, including checks and automated clearinghouse transactions bearing the routing num ber of Irving.




E.

G

erald

C

o r r ig a n

,

President.