First New York Bank for Business
New York, NY
$531M
total assets, September 30, 1992
$531M
total assets, September 30, 1992
First New York Bank for Business was a state nonmember bank in New York, NY. It failed on Nov 13, 1992, and Merchants Bank Of New Yo took over its deposits. At its last report it held $530.7 million in assets.
Updated Oct 11, 2026 · numbers as of September 30, 1992
This bank failed
- Failed on
- Nov 13, 1992
- Assets
- $531M
- Deposits
- $499M
- Estimated cost
- $165M
- Deposits went to
- Merchants Bank Of New Yo, New York City, NY
Total assets
$531M
-20.3% in a year · -7.8% in a quarter
Deposits
$499M
-19.2% in a year · -9.8% in a quarter
Loans
$418M
-17.8% in a year · -4.2% in a quarter
Profit so far
-$19.2M
Jan 1 to Sep 30, 1992
Capital ratio
0.58%
-2.05 pts in a year
Return on assets
-4.33%
-1.48 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 28 West 23rd Street, New York, NY, 10010
- County
- New York
- Established
- Jul 28, 1975
- Failed
- Nov 13, 1992
- Employees
- 152
- Id
- b22073
Quarter by quarter
March 31, 1984 to September 30, 1992
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is First New York Bank for Business?
$530.7 million in total assets and $498.9 million in deposits as of September 30, 1992, with assets down 20.3% from a year before. Its loans were $418.5 million.
Is First New York Bank for Business profitable?
No: it lost $19.2 million from January 1 to September 30, 1992. Its return on assets was -4.33% a year; about 1% is typical.
When did First New York Bank for Business fail?
Nov 13, 1992. Merchants Bank Of New Yo of New York City, NY took over its deposits. The estimated cost of the failure was $164.6 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.