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Bad investments in junk bonds lead to the bank collapsing, and the buy out of all of the assets and most of the branches by First Fidelity bank in 1991. Most branches remained opened at as First Fidelity Bank, a few, such as the branch in Bass River Township, NJ were closed out right.
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∙ 12y agoThis answer is:
Lisa WitcheyPoo
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∙ 5mo agoI understand that bad real estate loans combined with a run on its assets by depositors also played a part.
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