Full text of Federal Reserve Bank of New York Circulars : 10580. Closing of Hometown Bank and Highlands Community Bank, N.A.

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FEDERAL RESERVE BANK
OF NEW YORK

[

Circular No. 10580
October 1, 1992

~1

Closing of Hometown Bank and
Highlands Community Bank, N.A.

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

We have been advised of the following recent closings of depository
institutions:

Hometown Bank
On September 25, 1992, the Commissioner of Banking and Finance of the
State of New Jersey issued an order providing for the closing of Hometown Bank,
Edison, New Jersey (“Hometown”) (routing number 0212-0710-9). The Federal
Deposit Insurance Corporation (“FDIC”) was appointed receiver and, effective the
close of business September 25, 1992, transferred certain assets and liabilities of
Hometown to Somerset Trust Company, Somerville, New Jersey (“Somerset”).
Somerset has agreed to continue receiving certain payments transactions of Home­
town, including checks and automated clearinghouse transactions bearing the
routing number of Hometown.

Highlands Community Bank, N.A.
On September 25, 1992, the Comptroller of the Currency, Department of the
Treasury, declared Highlands Community Bank, N.A., Clinton, New Jersey
(“Highlands”) (routing number 0212-0674-4) insolvent and ordered it closed. The
FDIC was appointed receiver and, effective the close of business September 25,
1992, transferred certain assets and liabilities of Highlands to Somerset Trust Com­
pany, Somerville, New Jersey (“Somerset” ). Somerset has agreed to continue re­
ceiving certain payments transactions of Highlands including checks and automated
clearinghouse transactions bearing the routing number of Highlands.
E.

G e r a l d C o r r ig a n ,

President.