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Failures by State

Bank Failures in North Carolina

26 FDIC-insured banks headquartered in North Carolina have failed since 1937. The most recent was Pisgah Community Bank on May 10, 2013. The worst year was 1990, with 4 failures. Failed banks held $5.98B in assets at closing.

26
Failures
1937 to 2013
$5.98B
Failed assets
At closing
$860.6M
Estimated DIF loss
FDIC estimate
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Largest bank failures in North Carolina

Date Bank City Assets Acquirer or resolution
Jun 19, 2009 Cooperative Bank Wilmington $966.8M First Bank
Jun 5, 1992 First American FSB Greensboro $804.3M Centura Bank
Mar 2, 1990 North Carolina FS & La Charlotte $628.1M First Citizens B&TC
Jun 8, 2012 Waccamaw Bank Whiteville $533.1M First Community Bank
Dec 7, 1990 First Federal Savings Raleigh $520.4M Branch sale
Apr 10, 2009 Cape Fear Bank Wilmington $492.4M First Federal Savings and Loan Association of Charleston
Nov 16, 1990 Southeastern Savings Bank Charlotte $422.3M Branch sale
Mar 30, 1989 Heritage FS & La Monroe $311.7M First Citizens B&TC
Jul 9, 1991 Surety FS & La Morganton $224.8M First Citizens B&TC
Mar 8, 1991 Preffered Savings and Loan High Point $224.5M Southern NB of NC

North Carolina bank failures by year

Year Failures Failed assets
2013 2 $131.5M
2012 1 $533.1M
2011 2 $366.4M
2009 2 $1.46B
1993 1 $26.3M
1992 1 $804.3M
1991 3 $497.5M
1990 4 $1.62B
1989 2 $438.5M
1988 1 $93.9M
1950 1 $1.3M
1943 1 $855K
1942 1 $129K
1938 3 —
1937 1 —

Every bank failure in North Carolina

Date Bank City Assets Acquirer or resolution
May 10, 2013 Pisgah Community Bank Asheville $21.9M Capital Bank, N.A.
Apr 26, 2013 Parkway Bank Lenoir $109.6M Certusbank, N.A.
Jun 8, 2012 Waccamaw Bank Whiteville $533.1M First Community Bank
Oct 14, 2011 Blue Ridge Savings Bank, Inc. Asheville $161.4M Bank of North Carolina
Jan 21, 2011 The Bank of Asheville Asheville $204.9M First Bank
Jun 19, 2009 Cooperative Bank Wilmington $966.8M First Bank
Apr 10, 2009 Cape Fear Bank Wilmington $492.4M First Federal Savings and Loan Association of Charleston
May 20, 1993 Crown National Bank Charlotte $26.3M Lincoln Bank of NC
Jun 5, 1992 First American FSB Greensboro $804.3M Centura Bank
Oct 25, 1991 First Hanover Bank Wilmington $48.2M Central Carolina Bank and T
Jul 9, 1991 Surety FS & La Morganton $224.8M First Citizens B&TC
Mar 8, 1991 Preffered Savings and Loan High Point $224.5M Southern NB of NC
Dec 7, 1990 First Federal Savings Raleigh $520.4M Branch sale
Nov 16, 1990 Southeastern Savings Bank Charlotte $422.3M Branch sale
Jul 27, 1990 Guaranty Savings Bank FSB Fayetteville $53.9M Branch sale
Mar 2, 1990 North Carolina FS & La Charlotte $628.1M First Citizens B&TC
Mar 30, 1989 Heritage FS & La Monroe $311.7M First Citizens B&TC
Mar 30, 1989 Great Atlantic Savings Bank Manteo $126.8M NCNB NB of NC
May 13, 1988 Cardinal Savings Bank Newport $93.9M —
Jul 24, 1950 The Bank of Aurora Aurora $1.3M —
Mar 18, 1943 Bank of Black Mountain Black Moutain $855K —
Feb 6, 1942 Bank of Draper Draper $129K —
Jun 24, 1938 The Bank of Ashe Jefferson — —
Apr 9, 1938 Bank of Ellenboro Ellenboro — —
Jan 29, 1938 The Bank of Fremont Fremont — —
Dec 2, 1937 Peoples United Bank Southport — —

Source: FDIC failed-bank list. Counts are real closures by headquarters state; FDIC open-bank assistance transactions are not failures and are excluded. Assets and deposits are as reported at closing.

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