Bank Failure
Cape Fear Bank
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Closed April 10, 2009 · Wilmington, NC · FDIC Cert #34639.
- Closing date
- April 10, 2009
- Headquarters
- Wilmington, NC
- FDIC Certificate
- 34639
- Total assets at closing
- $492.4M
- Total deposits at closing
- $402.8M
- Estimated loss to the insurance fund
- $118.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Federal Savings and Loan Association of Charleston
Context
On April 10, 2009, regulators closed Cape Fear Bank, headquartered in Wilmington, NC. At closing, the institution held approximately $492.4M in assets and $402.8M in deposits. The FDIC record names First Federal Savings and Loan Association of Charleston as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $118.6M.
By assets at closing this is the 382nd largest of the 3,526 bank failures in the FDIC record, and the 47th of 140 in 2009. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Cape Fear Bank fail?
Cape Fear Bank was closed by regulators on April 10, 2009.
Who acquired Cape Fear Bank?
The FDIC record names First Federal Savings and Loan Association of Charleston as the acquiring institution in the resolution of Cape Fear Bank.
How big was Cape Fear Bank when it failed?
Cape Fear Bank had approximately $492.4M in total assets and $402.8M in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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