# NORTH CAROLINA FS & LA

> **Failed bank** · CHARLOTTE, NC · failed 1990-03-02 · SL · FDIC cost $42M

## What happened

NORTH CAROLINA FS & LA of CHARLOTTE, NC was closed by state regulators on **1990-03-02**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **FIRST CITIZENS B&TC** (RALEIGH, NC). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 2686
- **FDIC Certificate:** 31744
- **FDIC FIN:** 7179
- **Bank name:** NORTH CAROLINA FS & LA
- **Location:** CHARLOTTE, NC
- **Failure date:** 1990-03-02
- **FDIC resolution date:** 1990-09-21
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $42M
- **Deposits at failure:** $455M
- **Assets at failure:** $628M
- **Acquiring bank:** FIRST CITIZENS B&TC (RALEIGH, NC)

## Other banks FIRST CITIZENS B&TC has acquired in FDIC resolutions

- SURETY FS & LA (MORGANTON, NC) — failed 1991-07-09 — /failed-bank/3136
- HERITAGE FS & LA (MONROE, NC) — failed 1989-03-30 — /failed-bank/2304

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=NORTH%20CAROLINA%20FS%20%26%20LA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, NORTH CAROLINA FS & LA (FDIC ID 2686), failed 1990-03-02. Retrieved via AI Analytics 2026-07-02 from https://api.ai-analytics.org/failed-bank/2686.

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