Failed Bank List

Closed Friday, November 1, 2019 · Newark, Essex County, New Jersey

City National Bank of New Jersey

City National Bank of New Jersey was the largest of the 4 bank failures in 2019. Its assets had shrunk 66% from their peak in the first quarter of 2012 by the last report before closing. It lost money in every one of the nine reporting years on file before it closed.

On the books, 2011 to 2019

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$100M$200M$300M$400M20122013201420152016201720182019Closed
Total assets peaked at $359 million. Equity capital went from 8.0% of assets in the fourth quarter of 2011 to 2.9% at the last report. The deepest annual loss, $7.8 million, was booked in 2013.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end−$8M2011: −$3.5 million20118.0%2012: −$6.0 million20126.7%2013: −$7.8 million20132.8%2014: −$7.2 million20141.7%2015: −$6.6 million20156.1%2016: −$6.8 million20163.8%2017: −$811 thousand20174.0%2018: −$4.8 million20182.3%2019: −$1.5 million2019*2.9%
* 2019: January to September only, the last report before closing.

Size against the other 2019 failures

Total assets of the 4 banks that failed in 2019, log scale$10M$100M$1B
Total assets of each 2019 failure, log scale; City National Bank of New Jersey in red.

Within New Jersey it ranks 33rd by size of the 98 failures recorded since 1934. Across the failures of 2019, the median estimated loss came to 11% of assets. The next-largest failure of that year was The Enloe State Bank of Cooper, Texas ($36.7 million, loss 50% of assets). Every 2019 failure in the explorer.

Failures in New Jersey

The previous failure there was Harvest Community Bank of Pennsville, on January 13, 2017. No bank in New Jersey has failed since. Essex County has 10 failed banks on FDIC record since 1934. Closest in time: Trident Federal Savings and Loan Association (1991), Nutley Savings Bank, SLA (1991), The Howard Savings Bank (1992), Carteret Savings Bank, FA (1992), Dollar Savings Bank (2004).

Bank failures in New Jersey per year, 1980 to 202604812161983: 11987: 11989: 51990: 141991: 161992: 102004: 12009: 22010: 12011: 12012: 12017: 12019: 119801990200020102020
Per year since 1980, 2019 in red. Every New Jersey failure

FDIC certificate 21111 · loss estimate as of July 31, 2026 · How to read this page