PREFFERED SAVINGS AND LOAN Failed 1991
What happened
PREFFERED SAVINGS AND LOAN of HIGH POINT, NC was closed on 1991-03-08. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to SOUTHERN NB OF NC (LUMBERTON, NC). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3036
- FDIC Certificate
- 32340
- FDIC FIN
- 2122
- Bank name
- PREFFERED SAVINGS AND LOAN
- Location
- HIGH POINT, NC
- Failure date
- 1991-03-08
- FDIC resolution date
- 1991-09-27
- Charter type
- SL
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $19M
- Deposits at failure
- $175M
- Assets at failure
- $224M
- Acquiring bank
- SOUTHERN NB OF NC (LUMBERTON, NC)